63B-4-301 - Bonds for golf course at Wasatch Mountain State Park.
63B-4-301. Bonds for golf course at Wasatch Mountain State Park.
(1) The State Building Ownership Authority under authority of Title 63B, Chapter 1, Part3, State Building Ownership Authority Act, may issue or execute obligations, or enter into orarrange for a lease purchase agreement in which participation interests may be created, to provideup to $2,500,000 for a new nine-hole golf course at Wasatch Mountain State Park for theDivision of Parks and Recreation, together with additional amounts necessary to:
(a) pay costs of issuance;
(b) pay capitalized interest; and
(c) fund any debt service reserve requirements.
(2) (a) The State Building Ownership Authority shall work cooperatively with theDivision of Parks and Recreation to seek out the most cost effective and prudent lease purchaseplan available.
(b) The state treasurer, the director of the Division of Finance, and the director of theGovernor's Office of Planning and Budget shall provide technical assistance to accomplish thepurpose specified in Subsection (2)(a).
Amended by Chapter 382, 2008 General Session