Utah § 73-28-402 Agreement for delivery -- Period for repayment of costs.

Utah Statutes

§ 73-28-402 — Agreement for delivery -- Period for repayment of costs.

Utah·Title 73 Water and Irrigation·Ch. 73-28 Lake Powell Pipeline Development Act·Part 73-28-4 Financing and Cost Recovery

(1)The board and each district shall establish by contract the timing and amount of developed water to be delivered to the district.

(2)If a contract was made before the project's completion, the district shall repay the preconstruction and construction costs within 50 years from the date of:

(2)(a) the delivery of developed water to the district during the first 10 years after the project is completed; or

(2)(b) the project's completion for any developed water delivered to the district after the tenth anniversary date of the project's completion.

(3)If a contract was made after the project's completion date, the district shall repay the preconstruction and construction costs within a period not to exceed 50 years from the date that the contract was made.

(4)The board shall establish

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(1) The board and each district shall establish by contract the timing and amount of developed water to be delivered to the district.
(2) If a contract was made before the project's completion, the district shall repay the preconstruction and construction costs within 50 years from the date of:

(2)(a) the delivery of developed water to the district during the first 10 years after the project is completed; or
(2)(b) the project's completion for any developed water delivered to the district after the tenth anniversary date of the project's completion.
(3) If a contract was made after the project's completion date, the district shall repay the preconstruction and construction costs within a period not to exceed 50 years from the date that the contract was made.
(4) The board shall establish and charge a reasonable interest rate for the unpaid balance of reimbursable preconstruction and construction costs.

Utah § 73-28-402 (Agreement for delivery -- Period for repayment of costs.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.