Utah Code 63B-29-101. Revenue bond authorizations — State Building Ownership Authority
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(1) The Legislature intends that:
Terms Used In Utah Code 63B-29-101
- 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
(1)(a) the State Building Ownership Authority, under the authority of Chapter 1, Part 3, State Building Ownership Authority Act, may issue or execute obligations, or may enter into or arrange for a lease-purchase agreement in which participation interests may be created, to provide up to $14,591,000 for the downtown liquor store relocation, together with additional amounts necessary to pay costs of issuance, pay capitalized interest, and fund any existing debt service reserve requirements;
(1)(b) the Department of Alcoholic Beverage Services use sales revenue as the primary revenue source for repayment of any obligation created under authority of this Subsection (1); and
(1)(c) the Department of Alcoholic Beverage Services may request operation and maintenance funding from sales revenue.
(2) The Legislature intends that:
(2)(a) the State Building Ownership Authority, under the authority of Chapter 1, Part 3, State Building Ownership Authority Act, may issue or execute obligations, or may enter into or arrange for a lease-purchase agreement in which participation interests may be created, to provide up to $14,000,000 for two liquor stores in the Taylorsville and West Valley City market areas, together with additional amounts necessary to pay costs of issuance, pay capitalized interest, and fund any existing debt service reserve requirements;
(2)(b) the Department of Alcoholic Beverage Services use sales revenue as the primary revenue source for repayment of any obligation created under authority of this Subsection (2); and
(2)(c) the Department of Alcoholic Beverage Services may request operation and maintenance funding from sales revenue.