2006 Utah Code - 63B-14-101 — Capital facilities bonds -- Maximum amount -- Projects authorized.

     63B-14-101.   Capital facilities bonds -- Maximum amount -- Projects authorized.
     (1) The total amount of bonds issued under this section may not exceed $4,600,000.
     (2) (a) Proceeds from the issuance of bonds shall be provided to the division to provide funds to pay all or part of the cost of acquiring and constructing the projects listed in this Subsection (2).
     (b) These costs may include the cost of acquiring land, interests in land, easements and rights-of-way, improving sites, and acquiring, constructing, equipping, and furnishing facilities and all structures, roads, parking facilities, utilities, and 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.
     (c) For the division, proceeds shall be provided for the following:
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CAPITAL DEVELOPMENT PROJECTS
                     Estimated
                     Operations            Project
Project                and                Amount
Description                Maintenance            Funded
----------------------------        -----------------            ----------------
Veterans' Nursing Home -
Ogden                    $0                $4,500,000
TOTAL CAPITAL
DEVELOPMENT
PROJECTS                                $4,500,000
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TOTAL GENERAL OBLIGATION BOND AUTHORIZATION
FOR CAPITAL DEVELOPMENT PROJECTS            $4,500,000
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     (d) For purposes of this section, operations and maintenance costs:
     (i) are estimates only;
     (ii) may include any operations and maintenance costs already funded in existing agency budgets; and
     (iii) are not commitments by this Legislature or future Legislatures to fund those operations and maintenance costs.
     (3) (a) The amounts funded as listed in Subsection (2) are estimates only and do not constitute a limitation on the amount that may be expended for the project.
     (b) The commission, by resolution and in consultation with the board, may delete the project if the inclusion of that project could be construed to violate state law or federal law or regulation.
     (4) (a) The division may enter into agreements related to the project before the receipt of proceeds of bonds issued under this chapter.
     (b) The division shall make those expenditures from unexpended and unencumbered building funds already appropriated to the Capital Projects Fund.
     (c) The division shall reimburse the Capital Projects Fund upon receipt of the proceeds of bonds issued under this chapter.

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     (d) The state intends to use proceeds of tax-exempt bonds to reimburse itself for expenditures for costs of the projects listed in Subsection (2)(c).
     (5) It is the intent of the Legislature that the funding authorized for projects in Subsection (2) include no funds for public art.
     (6) It is the intent of the Legislature that the State Bonding Commission may not issue bonds for the Veterans' Nursing Home in Ogden until the State Bonding Commission receives a letter from the adjutant general of the National Guard certifying that federal funds for the Veterans' Nursing Home in Ogden have been authorized, approved, and are available for expenditure.

Enacted by Chapter 7, 2005 Special Session 1