2006 Utah Code - 63B-13-301 — Lease-purchase authorizations.

     63B-13-301.   Lease-purchase authorizations.
     (1) It is the intent of the Legislature that the Mountainland Applied Technology Campus of the Utah College of Applied Technology may use existing funds to enter into a lease-purchase agreement with Alpine School District for the acquisition of the Pacific Avenue Applied Technology Facility costing up to $2,900,000.
     (2) It is further the intent of the Legislature that a lease may not be executed until the State Building Board has determined that the lease-purchase option is less costly to the state than the current lease.

Enacted by Chapter 364, 2004 General Session