Utah Code 53F-9-601. Small School District Capital Projects Fund
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(1) As used in this section:
Terms Used In Utah Code 53F-9-601
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
(1)(a) “Capital development project” means the same as that term is defined in Section 63A-5b-401.
(1)(b) “Fund” means the Small School District Capital Projects Fund created in this section.
(2)
(2)(a) There is created a capital projects fund known as the Small School District Capital Projects Fund.
(2)(b) Subject to legislative appropriations, and except as provided in Subsection (4), money in the fund shall be used for a capital development project in accordance with this section and Title 53F, Chapter 10, State Funding — Capital Projects.
(2)(c) The fund shall:
(2)(c)(i) be funded by:
(2)(c)(i)(A) one-time appropriations; and
(2)(c)(i)(B) repayment and interest on loans described in Section 53F-10-302; and
(2)(c)(ii) accrue interest, which shall be deposited into the fund.
(3) The state board shall authorize disbursements from the fund.
(4) The state board shall administer the fund in accordance with this section.