11-17-8 - Items included in cost of project.
11-17-8. Items included in cost of project.
The cost of acquiring or improving any project includes the following:
(1) the actual cost of acquiring or improving real estate;
(2) the actual cost of enlarging, constructing, reconstructing, improving, maintaining,equipping, or furnishing all or any part of a project which may be constructed, includingarchitects' or engineers' fees;
(3) all expenses in connection with the authorization, sale, and issuance of the bonds tofinance such acquisition or improvement, enlargement, construction, reconstruction,improvement, maintenance, equipping, or furnishing, including legal fees, financial advisers fees,letter of credit fees, line of credit or other liquidity agreement fees, bank acceptance fees, fees oftender agents, remarketing agents and indexing agents, premiums for bond insurance or insuranceof the obligations of users under security agreements, printing costs, underwriters' discount,reserves to pay principal and interest on the bonds, and the interest on bonds for a reasonable timeprior to construction, during construction, and for a reasonable period of time after completion ofconstruction; and
(4) amounts to pay or discharge, or provide for the payment and discharge of, anyexisting indebtedness incurred to finance or refinance hospital, nursing home, or extended carefacility property owned by a user for which a project is to be undertaken under this chapter.
Amended by Chapter 128, 1985 General Session