2023 Utah Code › Title 63B - Bonds › Chapter 29 - 2019 Bonding and Financing Authorizations › Part 1 - 2019 Revenue Bond Authorizations › Section 102 - Revenue bond authorizations -- Board of Regents.

Effective 5/14/2019
63B-29-102.
Revenue bond authorizations -- Board of Regents.
(1) The Legislature intends that:
(a) the Board of Regents, on behalf of the University of Utah, may issue, sell, and deliver revenue bonds or other evidences of indebtedness of the University of Utah to borrow money on the credit, revenue, and reserves of the university, other than appropriations of the Legislature, to finance the cost of constructing the Kathryn F. Kirk Center for Comprehensive Cancer Care and Women's Cancers;
(b) the University of Utah use hospital revenue and donations as the primary revenue sources for repayment of any obligation created under authority of this Subsection (1);
(c) the maximum amount of revenue bonds or evidences of indebtedness authorized by this Subsection (1) may not exceed $40,000,000 for acquisition and construction proceeds, together with other amounts necessary to pay costs of issuance, pay capitalized interest, and fund any debt service reserve requirements;
(d) the university may, subject to the requirements of Title 63A, Chapter 5b, Administration of State Facilities, use up to $89,000,000 in donations and other Huntsman Cancer Institute funds together with proceeds authorized under Subsection (1)(c) to plan, design, and construct the Kathryn F. Kirk Center for Comprehensive Cancer Care and Women's Cancers; and
(e) the university may not request state funds for operation and maintenance costs or capital improvements.
(2) The Legislature intends that:
(a) the Board of Regents, on behalf of the University of Utah, may issue, sell, and deliver revenue bonds or other evidences of indebtedness of the University of Utah to borrow money on the credit, revenue, and reserves of the university, other than appropriations of the Legislature, to finance the cost of constructing the Rice-Eccles Stadium South End Zone upgrade;
(b) the University of Utah use athletic revenue and other institutional funds as the primary revenue sources for repayment of any obligation created under authority of this Subsection (2);
(c) the maximum amount of revenue bonds or evidences of indebtedness authorized by this Subsection (2) may not exceed $80,000,000 for acquisition and construction proceeds, together with other amounts necessary to pay costs of issuance, pay capitalized interest, and fund any debt service reserve requirements;
(d) the university may plan, design, and construct the Rice-Eccles Stadium South End Zone upgrade, subject to the requirements of Title 63A, Chapter 5b, Administration of State Facilities; and
(e) the university may not request state funds for operation and maintenance costs or capital improvements.
(3) The Legislature intends that:
(a) the Board of Regents, on behalf of Utah State University, may issue, sell, and deliver revenue bonds or other evidences of indebtedness of Utah State University to borrow money on the credit, revenue, and reserves of the university, other than appropriations of the Legislature, to finance the cost of constructing the Mountain View Residence Hall replacement;
(b) Utah State University use student housing rental fees and other auxiliary revenue as the primary revenue sources for repayment of any obligation created under authority of this Subsection (3);
(c) the maximum amount of revenue bonds or evidences of indebtedness authorized by this Subsection (3) may not exceed $41,600,000 for acquisition and construction proceeds, together with other amounts necessary to pay costs of issuance, pay capitalized interest, and fund any debt service reserve requirements;
(d) the university may plan, design, and construct the Mountain View Residence Hall replacement, subject to the requirements of Title 63A, Chapter 5b, Administration of State Facilities; and
(e) the university may not request state funds for operation and maintenance costs or capital improvements.
(4) The Legislature intends that:
(a) the Board of Regents, on behalf of Utah State University, may issue, sell, and deliver revenue bonds or other evidences of indebtedness of Utah State University to borrow money on the credit, revenue, and reserves of the university, other than appropriations of the Legislature, to finance the cost of constructing the East Parking Terrace;
(b) Utah State University use parking fees and other auxiliary revenue as the primary revenue sources for repayment of any obligation created under authority of this Subsection (4);
(c) the maximum amount of revenue bonds or evidences of indebtedness authorized by this Subsection (4) may not exceed $11,700,000 for acquisition and construction proceeds, together with other amounts necessary to pay costs of issuance, pay capitalized interest, and fund any debt service reserve requirements;
(d) the university may plan, design, and construct the East Parking Terrace, subject to the requirements of Title 63A, Chapter 5b, Administration of State Facilities; and
(e) the university may not request state funds for operation and maintenance costs or capital improvements.
(5) The Legislature intends that:
(a) the Board of Regents, on behalf of Utah State University, may issue, sell, and deliver revenue bonds or other evidences of indebtedness of Utah State University to borrow money on the credit, revenue, and reserves of the university, other than appropriations of the Legislature, to finance the cost of constructing the Space Dynamics Laboratory Research Building;
(b) Utah State University use reimbursement from research projects as the primary revenue sources for repayment of any obligation created under authority of this Subsection (5);
(c) the maximum amount of revenue bonds or evidences of indebtedness authorized by this Subsection (5) may not exceed $37,700,000 for acquisition and construction proceeds, together with other amounts necessary to pay costs of issuance, pay capitalized interest, and fund any debt service reserve requirements;
(d) the university may plan, design, and construct the Space Dynamics Laboratory Research Building, subject to the requirements of Title 63A, Chapter 5b, Administration of State Facilities; and
(e) the university may not request state funds for operation and maintenance costs or capital improvements.
(6) The Legislature intends that:
(a) the Board of Regents, on behalf of Utah State University, may issue, sell, and deliver revenue bonds or other evidences of indebtedness of Utah State University to borrow money on the credit, revenue, and reserves of the university, other than appropriations of the Legislature, to finance the cost of constructing the Space Dynamics Laboratory High Bay Building;
(b) Utah State University use reimbursement from research projects as the primary revenue sources for repayment of any obligation created under authority of this Subsection (6);
(c) the maximum amount of revenue bonds or evidences of indebtedness authorized by this Subsection (6) may not exceed $15,000,000 for acquisition and construction proceeds, together with other amounts necessary to pay costs of issuance, pay capitalized interest, and fund any debt service reserve requirements;
(d) the university may plan, design, and construct the Space Dynamics Laboratory High Bay Building, subject to the requirements of Title 63A, Chapter 5b, Administration of State Facilities; and
(e) the university may not request state funds for operation and maintenance costs or capital improvements.
(7) The Legislature intends that:
(a) the Board of Regents, on behalf of Dixie State University, may issue, sell, and deliver revenue bonds or other evidences of indebtedness of Dixie State University to borrow money on the credit, revenue, and reserves of the university, other than appropriations of the Legislature, to finance the cost of constructing a student housing facility;
(b) Dixie State University use student housing rental fees and other auxiliary revenues as the primary revenue sources for repayment of any obligation created under authority of this Subsection (7);
(c) the maximum amount of revenue bonds or evidences of indebtedness authorized by this Subsection (7) may not exceed $41,835,000 for acquisition and construction proceeds, together with other amounts necessary to pay costs of issuance, pay capitalized interest, and fund any debt service reserve requirements;
(d) the university may plan, design, and construct a student housing facility, subject to the requirements of Title 63A, Chapter 5b, Administration of State Facilities; and
(e) the university may not request state funds for operation and maintenance costs or capital improvements.
(8) The Legislature intends that:
(a) the Board of Regents, on behalf of Utah Valley University, may issue, sell, and deliver revenue bonds or other evidences of indebtedness of Utah Valley University to borrow money on the credit, revenue, and reserves of the university, other than appropriations of the Legislature, to finance the cost of remodeling and expanding the Sorensen Center;
(b) Utah Valley University use student fees and auxiliary revenue as the primary revenue sources for repayment of any obligation created under authority of this Subsection (8);
(c) the maximum amount of revenue bonds or evidences of indebtedness authorized by this Subsection (8) may not exceed $24,560,000 for acquisition and construction proceeds, together with other amounts necessary to pay costs of issuance, pay capitalized interest, and fund any debt service reserve requirements;
(d) the university may plan, design, and construct the remodel and expansion of the Sorensen Center, subject to the requirements of Title 63A, Chapter 5b, Administration of State Facilities; and
(e) the university may not request state funds for operation and maintenance costs or capital improvements.
Enacted by Chapter 410, 2019 General Session