63B-11-102 - Maximum amount -- Projects authorized.
63B-11-102. Maximum amount -- Projects authorized.
(1) The total amount of bonds issued under this part may not exceed $236,000,000.
(2) (a) Proceeds from the issuance of bonds shall be provided to the division to providefunds to pay all or part of the cost of acquiring and constructing the projects listed in thisSubsection (2).
(b) These costs may include the cost of acquiring land, interests in land, easements andrights-of-way, improving sites, and acquiring, constructing, equipping, and furnishing facilitiesand all structures, roads, parking facilities, utilities, and improvements necessary, incidental, orconvenient to the facilities, interest estimated to accrue on these bonds during the period to becovered by construction of the projects plus a period of six months after the end of theconstruction period, and all related engineering, architectural, and legal fees.
(c) For the division, proceeds shall be provided for the following:
PROJECT AMOUNT ESTIMATED
DESCRIPTION FUNDED OPERATIONS
AND
MAINTENANCE
Brigham City Education Center Purchase $2,741,000 $52,000
Dixie State College
Eccles/Graff Performing Arts Center $14,396,800 $281,200
Snow College Performing Arts Center $15,583,000 $200,000
Weber State University Classroom Building
-- Davis Campus $20,500,000 $558,200
University of Utah Health Sciences Building $33,000,000 $676,000
Capitol Restoration Design/Parking Structure $25,970,000 $ 0
Utah Valley State College Wasatch Campus $9,587,000 $324,600
Capitol Remodel - Extension Buildings $40,991,600 $600,000
Classroom Package (CEU, USU, UVSC) $44,813,500 $1,005,000
Utah Fieldhouse of Natural History $5,741,000 $0
Snow College Performing Arts Design $986,800 $0
Youth Corrections - Washington County $1,792,700 $272,200
Youth Corrections - Canyonlands $3,125,000 $167,500
Utah National Guard - Maintenance Projects $1,074,700 $0
Utah State University Merrill Library $800,000 $0
Planning and Design
Courts - Salt Lake Courts $475,000 $0
Planning
Courts - Logan Courts $11,793,800 $403,300
TOTAL CAPITAL AND
ECONOMIC DEVELOPMENT $233,371,900
(d) For purposes of this section, operations and maintenance costs:
(i) are estimates only;
(ii) may include any operations and maintenance costs already funded in existing agencybudgets; and
(iii) are not commitments by this Legislature or future Legislatures to fund thoseoperations and maintenance costs.
(3) (a) The amounts funded as listed in Subsection (2) are estimates only and do notconstitute a limitation on the amount that may be expended for any project.
(b) The board may revise these estimates and redistribute the amount estimated for aproject among the projects authorized.
(c) The commission, by resolution and in consultation with the board, may delete one ormore projects from this list if the inclusion of that project or those projects in the list could beconstrued to violate state law or federal law or regulation.
(4) (a) The division may enter into agreements related to these projects before the receiptof proceeds of bonds issued under this chapter.
(b) The division shall make those expenditures from unexpended and unencumberedbuilding funds already appropriated to the Capital Projects Fund.
(c) The division shall reimburse the Capital Projects Fund upon receipt of the proceedsof bonds issued under this chapter.
(d) The commission may, by resolution, make any statement of intent relating to thatreimbursement that is necessary or desirable to comply with federal tax law.
(5) It is the intent of the Legislature that the funding of the Capitol RestorationDesign/Parking Structure does not bind this Legislature, or future Legislatures, to wholly orpartially fund the capitol remodel.
Amended by Chapter 4, 2002 Special Session 6