79-3-402 - Utah Geological Survey Sample Library Fund.
79-3-402. Utah Geological Survey Sample Library Fund.
(1) There is created a restricted special revenue fund known as the "Utah GeologicalSurvey Sample Library Fund."
(2) The fund consists of money from the following revenue sources:
(a) donations or contributions from individuals, companies, organizations, or governmententities; and
(b) interest generated by the fund.
(3) The director shall administer the fund.
(4) (a) Donations and other contributions to the fund and unallocated interest as providedin Subsection (5)(c) shall constitute the fund's principal.
(b) The principal may be expended only with the concurrence of the board.
(5) (a) Interest generated by the fund may be expended to support the sample library asprovided in Subsections (5)(b) and (c).
(b) An amount of money equal to or less than the interest generated by the fund in theprevious fiscal year may be expended annually in support of the sample library.
(c) Funds that are eligible to be spent, but remain unallocated at the end of any fiscalyear, revert to the fund and become part of the fund's principle.
Renumbered and Amended by Chapter 344, 2009 General Session