State Codes and Statutes

Statutes > Utah > Title-63b > Chapter-12 > 63b-12-201

63B-12-201. Revenue bond authorizations.
(1) (a) 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, mayissue or execute obligations, or enter into or arrange for a lease purchase agreement in whichparticipation interests may be created, to provide up to $14,099,000 for the construction of a statecourthouse in the City of West Jordan together with additional amounts necessary to pay costs ofissuance, pay capitalized interest, and fund any debt service reserve requirements.
(b) It is the intent of the Legislature that, before entering into the obligations authorizedby this Subsection (1), the State Building Ownership Authority shall confirm that the projectedamount of fees in the Courts Complex Fund, Fund 106, along with other funds in existingbudgets of the courts are adequate to cover the repayment of any obligation created underauthority of this Subsection (1).
(c) It is further the intent of the Legislature that when Sandy City has entered into abinding agreement with the Division of Facilities Construction and Management to purchase theexisting Sandy Courthouse at an amount that will provide sale proceeds, net of any rent that maybe charged to the courts for occupying the Sandy Courthouse during construction of the newcourthouse, of not less than $4,500,000, those proceeds may be used to include replacementspace for the district court in the new courthouse.
(2) (a) 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,issue or execute obligations, or enter into or arrange for a lease purchase agreement in whichparticipation interests may be created, to provide up to $1,242,000 for the construction of a driverlicense office in West Valley City, together with additional amounts necessary to pay costs ofissuance, pay capitalized interest, and fund any debt service reserve requirements.
(b) It is further the intent of the Legislature that fees for driver licenses be used as theprimary revenue source for repayment of any obligation created under authority of thisSubsection (2).

Amended by Chapter 382, 2008 General Session