Utah § 53H-9-605 Technical Colleges Capital Projects Fund -- Use of money in fund -- Appropriations to fund -- Administration of fund.

Utah Statutes

§ 53H-9-605 — Technical Colleges Capital Projects Fund -- Use of money in fund -- Appropriations to fund -- Administration of fund.

Utah·Title 53H Higher Education·Ch. 53H-9 Property and Facilities·Part 53H-9-6 Technical College Leasing and Capital Development

(1)As used in this section, "fund" means the Technical Colleges Capital Projects Fund created in this section.

(2)There is created a capital projects fund known as the Technical Colleges Capital Projects Fund.

(3)Subject to appropriation, money in the fund shall be used:

(3)(a) for a dedicated project approved in accordance with Section 53H-9-604; or

(3)(b) to pay debt service in accordance with Subsection (4).

(4)Money in the fund may be used to pay debt service:

(4)(a) on a general obligation bond issued for a capital development project in accordance with Title 63B, Chapter 1a, Master General Obligation Bond Act; and

(4)(b) if the Legislature approves the use by a vote of two-thirds of all members elected to each house.

(5)The fund shall be funded by appropriations.

(6)The fund sh

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(1) As used in this section, "fund" means the Technical Colleges Capital Projects Fund created in this section.
(2) There is created a capital projects fund known as the Technical Colleges Capital Projects Fund.
(3) Subject to appropriation, money in the fund shall be used:
(3)(a) for a dedicated project approved in accordance with Section 53H-9-604; or
(3)(b) to pay debt service in accordance with Subsection (4).
(4) Money in the fund may be used to pay debt service:
(4)(a) on a general obligation bond issued for a capital development project in accordance with Title 63B, Chapter 1a, Master General Obligation Bond Act; and
(4)(b) if the Legislature approves the use by a vote of two-thirds of all members elected to each house.
(5) The fund shall be funded by appropriations.
(6) The fund shall accrue interest, which shall be deposited into the fund.
(7) The Division of Finance shall administer the fund in accordance with this section.

Utah § 53H-9-605 (Technical Colleges Capital Projects Fund -- Use of money in fund -- Appropriations to fund -- Administration of fund.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.