63B-17-201 - Revenue bond authorizations -- State Building Ownership Authority.
63B-17-201. Revenue bond authorizations -- State Building Ownership Authority.
(1) The Legislature intends that:
(a) 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, or enter into orarrange for a lease purchase agreement in which participation interests may be created, to provideup to $90,000,000 for the acquisition and construction of phase II-B of a cancer clinical researchhospital facility adjacent to the University of Utah Medical Center, together with additionalamounts necessary to pay costs of issuance, pay capitalized interest, and fund any debt servicereserve requirements;
(b) the University of Utah use institutional funds as the primary revenue source forrepayment of any obligation created under authority of this section;
(c) the university may plan, design, and construct phase II-B of a cancer clinical researchhospital facility subject to the requirements of Section 63A-5-206; and
(d) the university may not request state funds for operation and maintenance costs orcapital improvements.
(2) The Legislature intends that:
(a) 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, or enter into orarrange for a lease-purchase agreement in which participation interests may be created, to provideup to $23,700,000 for the acquisition and construction of five stores for the Department ofAlcoholic Beverage Control, together with additional amounts necessary to pay costs of issuance,pay capitalized interest, and fund any debt service reserve requirements;
(b) the stores to be addressed through this authorization are:
(i) the replacement of a liquor store in Cedar City;
(ii) a new Utah County North liquor store;
(iii) a new Utah County South liquor store;
(iv) a new Washington County South liquor store; and
(v) a new Wasatch County Heber/Midway liquor store;
(c) the Department of Alcoholic Beverage Control use increased sales revenues as theprimary revenue source for repayment of any obligation created under authority of this section;and
(d) the Department of Alcoholic Beverage Control may request operation andmaintenance funding from sales revenues.
Amended by Chapter 150, 2009 General Session