Utah Code 73-28-404. Repayments returned to Water Resources Conservation and Development Fund — Establishment of an enterprise fund
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(1) The board shall deposit, in accordance with Section 51-4-1 , into the Water Resources Conservation and Development Fund:
Terms Used In Utah Code 73-28-404
- Board: means the Board of Water Resources. See Utah Code 73-28-103
- Committee: means the Project Management Committee created in Section
73-28-105 . See Utah Code 73-28-103 - Construction costs: means all costs related to the construction of the project, including the environmental mitigation costs. See Utah Code 73-28-103
- Developed water: means surface water developed by the project. See Utah Code 73-28-103
- Project: means the Lake Powell Pipeline project and associated facilities, including:(9)(a)(i) facilities associated with environmental mitigation;(9)(a)(ii) hydroelectric generating works and incidental electrical facilities;(9)(a)(iii) pipelines; and(9)(a)(iv) pumping stations. See Utah Code 73-28-103
- 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) repayments of preconstruction and construction costs; and(1)(b) the interest charged.
(2)
(2)(a) There is created an enterprise fund, as defined in Subsection 51-5-4(8) , entitled the “Lake Powell Pipeline Project Operation and Maintenance Fund.”
(2)(b) The fund consists of:
(2)(b)(i) revenues received from the sale of developed water that is designated for project operation, maintenance, repair, and replacement costs;
(2)(b)(ii) revenues received from the sale of electricity that are deposited in the fund in accordance with Subsection 73-28-203(3) ; and
(2)(b)(iii) all interest earned by the fund.
(3) Notwithstanding Section 63J-1-211 , the Legislature may not appropriate any money from the Lake Powell Pipeline Project Operation and Maintenance Fund.
(4) The state treasurer shall:
(4)(a) invest the money in the enterprise fund by following the procedures and requirements of Title 51, Chapter 7, State Money Management Act ; and
(4)(b) deposit all interest or other earnings derived from those investments into the Lake Powell Pipeline Operation and Maintenance Fund.
(5) The committee shall approve the expenditure of fund money to cover the project operation, maintenance, repair, and replacement costs, subject to:
(5)(a) money available in the fund; and
(5)(b) rules established by the board under Subsection 73-28-104(2) .
(6) If title to the project is transferred under Section 73-28-405 , the agreement shall direct the disposition of the money remaining in the fund.