State Codes and Statutes

Statutes > Utah > Title-63m > Chapter-05 > 63m-5-304

63M-5-304. Department of Transportation and county executives -- Cooperation indevelopment or utilization -- Written agreements authorized -- Survey and location work.
(1) The Department of Transportation and county executives shall cooperate withpersons engaged in industrial development or the development of or utilization of naturalresources in this state through a natural resource or industrial facility who desire to assist thisstate or its counties in obtaining financing through prepaid sales or use taxes for improvements toexisting state or county roads or the construction of new state or county roads which arenecessary to provide access to areas of natural resource or industrial facilities.
(2) Where it is determined that the improvements or construction referred to cannot befinanced with existing public funds or when the necessary improvement or construction would beunduly delayed by postponing the improvements or construction until funds are otherwiseavailable and the Legislature has appropriated the necessary funds pursuant to Section63M-5-302, the Department of Transportation or any county executive may enter into writtenagreements with the person engaged or to be engaged in industrial development or thedevelopment or utilization of natural resources through a natural resource or industrial facilityproviding for the necessary improvements or construction if that person agrees to the prepaymentof sales or use taxes as provided in this chapter to the extent necessary to provide the fundsneeded to finance the necessary improvements or construction.
(3) The agreements shall include the assurances necessary to provide the state or thecounty adequate funds for the payment of all obligations incurred by the state or county for thenecessary improvements or construction and for the transfer of funds and all necessaryadjustments, if the funds prepaid exceed the actual expenditures made for the improvements orconstruction.
(4) If the actual expenditures made by the state, its agencies, or political subdivisions forthe improvements or construction exceed the amount of prepaid sales and use taxes actuallyimposed by Title 59, Chapter 12, Sales and Use Tax Act, then no refund shall be allowed for theexcess amount prepaid as sales or use taxes.
(5) Initial survey and location work by the Department of Transportation or a county mayproceed prior to the execution of any agreements if otherwise authorized and funded.

Renumbered and Amended by Chapter 382, 2008 General Session