Utah Code 63B-11-302. Maximum amount — Projects authorized
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(1) The total amount of bonds issued under this part may not exceed $159,000,000.
Terms Used In Utah Code 63B-11-302
- Commission: means the State Bonding Commission created in Section 63B-1-201. See Utah Code 63B-1-101
- Highway: includes :(15)(a) a public bridge;(15)(b) a county way;(15)(c) a county road;(15)(d) a common road; and(15)(e) a state road. See Utah Code 68-3-12.5
- Land: includes :
(18)(a) land;(18)(b) a tenement;(18)(c) a hereditament;(18)(d) a water right;(18)(e) a possessory right; and(18)(f) a claim. See Utah Code 68-3-12.5- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- 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
(2)(2)(a) Proceeds from the issuance of bonds shall be provided to the Department of Transportation to provide funds to pay all or part of the costs of state highway construction or reconstruction projects.(2)(b) These costs may include the cost of acquiring land, interests in land, easements and rights-of-way, improving sites, and making all improvements necessary, incidental, or convenient to the facilities, interest estimated to accrue on these bonds during the period to be covered by construction of the projects plus a period of six months after the end of the construction period, interest estimated to accrue on any bond anticipation notes issued under the authority ofChapter 11, Part 4, 2002 Highway General Obligation Bond Anticipation Notes Authorization, and all related engineering, architectural, and legal fees.(3) The commission or the state treasurer may make any statement of intent relating to a reimbursement that is necessary or desirable to comply with federal tax law.(4) The Department of Transportation may enter into agreements related to that project before the receipt of proceeds of bonds issued under this chapter. - Land: includes :