9-4-702 - Creation and administration. - Utah Statutes

9-4-702. Creation and administration.
(1) (a) There is created an enterprise fund known as the Olene Walker Housing LoanFund, administered by the executive director or his designee.
(b) The department shall be the administrator of the fund.
(2) There shall be deposited into the fund:
(a) grants, paybacks, bonuses, entitlements, and other money received by the departmentfrom the federal government to preserve, rehabilitate, build, restore, or renew housing or otheractivities authorized by the fund;
(b) transfers, grants, gifts, bequests, or any money made available from any source toimplement this part; and
(c) money appropriated to the fund by the Legislature.
(3) The money in the fund shall be invested by the state treasurer according to theprocedures and requirements of Title 51, Chapter 7, except that all interest or other earningsderived from the fund money shall be deposited in the fund.

Amended by Chapter 175, 2001 General Session