2006 Utah Code - 9-10-104 — Duties -- Loans -- Interest.

     9-10-104.   Duties -- Loans -- Interest.
     (1) The board shall:
     (a) subject to an agreement entered into under the Interlocal Cooperation Act among the state, Duchesne and Uintah Counties and the Tribe make recommendations to the division for grants and loans from the Revitalization Fund to county agencies and the Tribe that are or may be socially or economically impacted, directly or indirectly, by mineral resource development;
     (b) establish procedures for application for and award of grants and loans including:
     (i) eligibility criteria;
     (ii) a preference that capital projects, including subsidized and low-income housing, and other one-time need projects and programs have priority over other projects;
     (iii) preference to projects and programs that are associated with the geographic area where the oil and gas were produced; and
     (iv) coordination of projects and programs with other projects and programs funded by federal, state, and local governmental entities;
     (c) determine the order in which projects will be funded;
     (d) qualify for, accept, and administer grants, gifts, loans, or other funds from the federal government and from other sources, public or private; and
     (e) perform other duties assigned to it under the Interlocal Cooperation Act agreement that are not prohibited by law.
     (2) The board shall ensure that loan repayments and interest are deposited into the Revitalization Fund.

Enacted by Chapter 341, 1995 General Session