53B-22-111 - Southern Utah University revenue bonds -- Stadium expansion.
53B-22-111. Southern Utah University revenue bonds -- Stadium expansion.
(1) The State Board of Regents, on behalf of Southern Utah University, may issue, sell,and deliver revenue bonds or other evidences of indebtedness of Southern Utah University toborrow money on the credit of the income and revenues of Southern Utah University, other thanappropriations of the Legislature, to finance the phased expansion of the stadium at the university.
(2) The bonds or other evidences of indebtedness authorized by this section may notexceed $5,500,000 and shall be issued in accordance with Title 53B, Chapter 21, RevenueBonds, under terms and conditions and in amounts that the board, by resolution, determines arereasonable and necessary.
Enacted by Chapter 209, 1994 General Session