§ 11-59-205 — Authority funds.

Utah § 11-59-205

• Jurisdiction: Utah
• Title 11: Cities, Counties, and Local Taxing Units
• Ch. 11-59: Point of the Mountain State Land Authority Act
• Part 11-59-2: Point of the Mountain State Land Authority

Text

(1) Authority funds consist of all money that the authority receives from any source, including:

(1)(a) money appropriated by the Legislature;
(1)(b) money from lease revenue;
(1)(c) revenue from fees or other charges imposed by the authority; and
(1)(d) other money paid to or acquired by the authority, as provided in this chapter or other applicable law.
(2) The authority may use authority funds to carry out any of the powers of the authority under this chapter or for any purpose authorized under this chapter, including:

(2)(a) providing long-term benefits to the state from the development or use of point of the mountain state land;
(2)(b) investment in authority projects;
(2)(c) repayment of point of the mountain infrastructure loans;
(2)(d) repayment of or collateral for authority bonds;
(2)(e) the sharing of money with other governmental entities under an interlocal agreement; and
(2)(f) paying any consulting fees, staff salaries, and other administrative, overhead, legal, and operating expenses of the authority.

Legislative History

Amended by Chapter 263, 2023 General Session