Utah Code 63B-22-101. Revenue bond authorizations — Board of Regents
Current as of: 2024 | Check for updates
|
Other versions
(1) The Legislature intends that:
Terms Used In Utah Code 63B-22-101
- 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
(1)(a) the Board of Regents, on behalf of Utah State University, may issue, sell, and deliver revenue bonds or other evidences of indebtedness of Utah State University to borrow money on the credit, revenues, and reserves of the university, other than appropriations of the Legislature, to finance the cost of constructing the Aggie Life & Wellness Center;
(1)(b) Utah State University use student fees as the primary revenue sources for repayment of any obligation created under authority of this section;
(1)(c) the maximum amount of revenue bonds or evidences of indebtedness authorized by this section is $30,000,000, together with other amounts necessary to pay costs of issuance, pay capitalized interest, and fund any debt service reserve requirements;
(1)(d) the university shall plan, design, and construct the Aggie Life & Wellness Center subject to the requirements of Title 63A, Chapter 5b, Administration of State Facilities ; and
(1)(e) the university may not request state funds for operation and maintenance costs or capital improvements.
(2) The Legislature intends that:
(2)(a) the Board of Regents, on behalf of Utah State University, may issue, sell, and deliver revenue bonds or other evidences of indebtedness of Utah State University to borrow money on the credit, revenues, and reserves of the university, other than appropriations of the Legislature, to finance the cost of constructing the Blanding Recreational Center at Utah State University: College of Eastern Utah: Blanding Campus;
(2)(b) Utah State University use student fees as the primary revenue sources for repayment of any obligation created under authority of this section;
(2)(c) the maximum amount of revenue bonds or evidences of indebtedness authorized by this section is $900,000, together with other amounts necessary to pay costs of issuance, pay capitalized interest, and fund any debt service reserve requirements;
(2)(d) the university shall plan, design, and construct the Blanding Recreational Center subject to the requirements of Title 63A, Chapter 5b, Administration of State Facilities ; and
(2)(e) the university may not request state funds for operation and maintenance costs or capital improvements.
(3) The Legislature intends that:
(3)(a) the Board of Regents, on behalf of Utah State University, may issue, sell, and deliver revenue bonds or other evidences of indebtedness of Utah State University to borrow money on the credit, revenues, and reserves of the university, other than appropriations of the Legislature, to finance the cost of constructing the Space Dynamics Laboratory;
(3)(b) Utah State University use reimbursement from research projects as the primary revenue sources for repayment of any obligation created under authority of this section;
(3)(c) the maximum amount of revenue bonds or evidences of indebtedness authorized by this section is $20,532,000, together with other amounts necessary to pay costs of issuance, pay capitalized interest, and fund any debt service reserve requirements;
(3)(d) the university shall plan, design, and construct the Space Dynamics Laboratory subject to the requirements of Title 63A, Chapter 5b, Administration of State Facilities ; and
(3)(e) the university may not request state funds for operation and maintenance costs or capital improvements.
(4) The Legislature intends that:
(4)(a) the Board of Regents, on behalf of the University of Utah, may issue, sell, and deliver revenue bonds or other evidences of indebtedness of the University of Utah to borrow money on the credit, revenues, and reserves of the university, other than appropriations of the Legislature, to finance the cost of constructing the Basketball Training Center – HPER Addition;
(4)(b) the University of Utah use athletic revenues from ticket sales and television revenues as the primary revenue sources for repayment of any obligation created under authority of this section;
(4)(c) the maximum amount of revenue bonds or evidences of indebtedness authorized by this section is $23,600,000, together with other amounts necessary to pay costs of issuance, pay capitalized interest, and fund any debt service reserve requirements;
(4)(d) the university shall plan, design, and construct the Basketball Training Center – HPER Addition subject to the requirements of Title 63A, Chapter 5b, Administration of State Facilities ; and
(4)(e) the university may not request state funds for operation and maintenance costs or capital improvements.
(5) The Legislature intends that:
(5)(a) the Board of Regents, on behalf of Utah State University, may issue, sell, and deliver revenue bonds or other evidences of indebtedness of Utah State University to borrow money on the credit, revenues, and reserves of the university, other than appropriations of the Legislature, to finance the cost of constructing the Utah State University Athletic Complex/Training Center;
(5)(b) Utah State University use donations as the primary revenue sources for repayment of any obligation created under authority of this section;
(5)(c) the maximum amount of revenue bonds or evidences of indebtedness authorized by this section is $7,500,000, together with other amounts necessary to pay costs of issuance, pay capitalized interest, and fund any debt service reserve requirements;
(5)(d) the university shall plan, design, and construct the Utah State University Athletic Complex/Training Center subject to the requirements of Title 63A, Chapter 5b, Administration of State Facilities ; and
(5)(e) the university may not request state funds for operation and maintenance costs or capital improvements.