Utah Code 63B-14-201. Revenue bond authorizations — State Building Ownership Authority
Current as of: 2024 | Check for updates
|
Other versions
(1) It is the intent of the Legislature that the State Building Ownership Authority, under the authority of Title 63B, Chapter 1, Part 3, State Building Ownership Authority Act, may issue or execute obligations, or enter into or arrange for a lease-purchase agreement in which participation interests may be created, to provide up to $7,867,000 for the acquisition and construction of three stores for the Department of Alcoholic Beverage Services, together with additional amounts necessary to pay costs of issuance, pay capitalized interest, and fund any debt service reserve requirements.
Terms Used In Utah Code 63B-14-201
- City: includes , depending on population, a metro township as defined in Section
10-3c-102 . 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) It is the intent of the Legislature that the stores to be addressed through this authorization are:
(2)(a) a new wine store in the downtown Salt Lake City area;
(2)(b) a new store in Washington County; and
(2)(c) a new store in southwest Salt Lake County.
(3) It is the intent of the Legislature that:
(3)(a) increased sales revenues be used as the primary revenue source for repayment of any obligation created under authority of this subsection; and
(3)(b) the Department of Alcoholic Beverage Services may request operation and maintenance funding from sales revenues.