63B-7-503 - Highway revenue bond authorization.
63B-7-503. Highway revenue bond authorization.
It is the intent of the Legislature that:
(1) the State Building Ownership Authority, under the authority of Title 63B, Chapter 1,Part 3, State Building Ownership Authority Act, may issue or execute obligations to provide upto $10,000,000 for the acquisition of real property or any interests in real property for state,county, or municipal transportation corridors as provided in Section 72-2-117; and
(2) revenues of the Transportation Corridor Preservation Revolving Loan Fund be usedas the primary revenue source for the repayment of any obligation created under authority of thissection.
Amended by Chapter 382, 2008 General Session