2006 Utah Code - 63B-9-202 — Maximum amount -- Projects authorized.

     63B-9-202.   Maximum amount -- Projects authorized.
     (1) In addition to any other bonds issued under this part, upon a written request from the Department of Transportation the State Bonding Commission may issue bonds that may not exceed $6,000,000.
     (2) (a) (i) Proceeds from the issuance of bonds shall be provided to the Department of Transportation to provide funds to pay all or part of the costs of state highway construction or reconstruction of the interchange on Interstate 80 at 5600 West and approximately one mile of 5600 West both north and south of Interstate 80 in Salt Lake County.
     (ii) The interchange and highway construction or reconstruction shall conform to the proposed design standards and configurations for the future 5600 West Legacy Highway profile.
     (b) These costs may include the cost of acquiring land, interests in land, easements and rights-of-way, improving sites, and making all improvements necessary, incidental, or convenient to the facilities, interest estimated to accrue on these bonds during the period to be covered by construction of the projects plus a period of six months after the end of the construction period, and all related engineering, architectural, and legal fees.
     (3) If, after completion of the projects authorized under Subsection (2)(a) and payment of the costs of issuing and selling the bonds under Section 63B-9-203, any bond proceeds remain unexpended, the Department of Transportation may use those unexpended proceeds to pay all or part of the costs of construction projects approved and prioritized by the Transportation Commission.
     (4) The commission may, by resolution, make any statement of intent relating to a reimbursement that is necessary or desirable to comply with federal tax law.
     (5) The Department of Transportation may enter into agreements related to that project before the receipt of proceeds of bonds issued under this chapter.

Enacted by Chapter 354, 2000 General Session