63B-13-301 - Lease-purchase authorizations.
63B-13-301. Lease-purchase authorizations.
(1) It is the intent of the Legislature that the Mountainland Applied Technology Campusof the Utah College of Applied Technology may use existing funds to enter into a lease-purchaseagreement with Alpine School District for the acquisition of the Pacific Avenue AppliedTechnology Facility costing up to $2,900,000.
(2) It is further the intent of the Legislature that a lease may not be executed until theState Building Board has determined that the lease-purchase option is less costly to the state thanthe current lease.
(1) It is the intent of the Legislature that the Mountainland Applied Technology Campusof the Utah College of Applied Technology may use existing funds to enter into a lease-purchaseagreement with Alpine School District for the acquisition of the Pacific Avenue AppliedTechnology Facility costing up to $2,900,000.
(2) It is further the intent of the Legislature that a lease may not be executed until theState Building Board has determined that the lease-purchase option is less costly to the state thanthe current lease.
Enacted by Chapter 364, 2004 General Session