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Utah Code
2025 Utah Code
Title 72 - Transportation Code
Chapter 2 - Transportation Finances Act
Part 3 - County of the First Class Infrastructure Bank Fund
Section 301 - Definitions.
Universal Citation:
UT Code § 72-2-301 (2025)
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Effective 7/1/2024
72-2-301. Definitions.
As used in this part:
Enacted by Chapter 501, 2024 General Session
72-2-301. Definitions.
As used in this part:
- (1)"Fund" means the County of the First Class Infrastructure Bank Fund created under Section 72-2-402.
- (2)"Infrastructure assistance" means any use of fund money, except an infrastructure loan, to provide financial assistance for transportation projects or publicly owned infrastructure projects, including:
- (a)capital reserves and other security for bond or debt instrument financing; or
- (b)any letters of credit, lines of credit, bond insurance, or loan guarantees obtained by a public entity to finance transportation projects.
- (3)"Infrastructure loan" means a loan of fund money to finance a transportation project or publicly owned infrastructure project.
- (4)"Public entity" means a county of the first class or any of the following located within a county of the first class:
- (a)a municipality;
- (b)a special district;
- (c)a special service district; or
- (d)an intergovernmental entity organized under state law.
- (5)"Publicly owned infrastructure project" means a project to improve sewer or water infrastructure that is owned by a public entity.
- (6)"Transportation project" means a project:
- (a)to improve a state or local highway;
- (b)to improve a public transportation facility or nonmotorized transportation facility;
- (c)to construct or improve parking facilities;
- (d)that is subject to a transportation reinvestment zone agreement pursuant to Section 11-13-227 if the state is party to the agreement; or
- (e)that is part of a housing and transit reinvestment zone created pursuant to Title 63N, Chapter 3, Part 6, Housing and Transit Reinvestment Zone Act.
- (7)"Transportation project" includes the costs of acquisition, construction, reconstruction, rehabilitation, equipping, and fixturing.
- (8)"Transportation project" may only include a project if the project is part of:
- (a)the statewide long range plan;
- (b)a regional transportation plan of the area metropolitan planning organization if a metropolitan planning organization exists for the area; or
- (c)a local government general plan or economic development initiative.
Enacted by Chapter 501, 2024 General Session
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