17B-2a-607 - Contracts with other corporations. - Utah Statutes

17B-2a-607. Contracts with other corporations.
(1) A metropolitan water district may:
(a) contract with one or more corporations, public or private, for the purpose of:
(i) financing acquisitions, constructions, or operations of the district; or
(ii) carrying out any of the district's powers;
(b) in a contract under Subsection (1)(a), obligate itself severally or jointly with the othercorporation or corporations; and
(c) secure, guarantee, or become surety for the payment of an indebtedness or theperformance of a contract or other obligation incurred or entered into by a corporation whoseshares of stock the district has acquired.
(2) A contract under Subsection (1)(a) may:
(a) provide for:
(i) contributions to be made by each contracting party;
(ii) the division and apportionment of:
(A) the expenses of acquisitions and operations; and
(B) the contractual benefits, services, and products; and
(iii) an agency to make acquisitions and carry on operations under the contract; and
(b) contain covenants and agreements as necessary or convenient to accomplish thepurposes of the contract.

Enacted by Chapter 329, 2007 General Session