Utah § 53H-9-305 Deposit of bond proceeds -- Division of Facilities Construction and Management responsibilities and approval.

Utah Statutes

§ 53H-9-305 — Deposit of bond proceeds -- Division of Facilities Construction and Management responsibilities and approval.

Utah·Title 53H Higher Education·Ch. 53H-9 Property and Facilities·Part 53H-9-3 Revenue Bonds

(1)The board treasurer or other fiscal officer, with the approval of the state treasurer, deposits the proceeds from the sale of bonds under this part into a special Construction Trust Fund Account established in compliance with Title 51, Chapter 7, State Money Management Act.

(2)The proceeds are credited to the board on behalf of the institution of higher education for which the bonds were issued.

(3)The proceeds are kept in a separate fund and used solely for the purpose for which they were authorized by the board.

(4)The Division of Facilities Construction and Management makes all contracts and executes all instruments which it considers necessary to provide for the projects referred to in Section 53H-9-302.

(5)The proceeds in the special Construction Trust Fund Account shall be di

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(1) The board treasurer or other fiscal officer, with the approval of the state treasurer, deposits the proceeds from the sale of bonds under this part into a special Construction Trust Fund Account established in compliance with Title 51, Chapter 7, State Money Management Act.
(2) The proceeds are credited to the board on behalf of the institution of higher education for which the bonds were issued.
(3) The proceeds are kept in a separate fund and used solely for the purpose for which they were authorized by the board.
(4) The Division of Facilities Construction and Management makes all contracts and executes all instruments which it considers necessary to provide for the projects referred to in Section 53H-9-302.
(5) The proceeds in the special Construction Trust Fund Account shall be disbursed only upon receipt of written statements supported by itemized estimates and claims presented to the Division of Facilities Construction and Management as provided in the resolution authorizing the issuance of the bonds.

Utah § 53H-9-305 (Deposit of bond proceeds -- Division of Facilities Construction and Management responsibilities and approval.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.