63B-9-102 - State Building Ownership Authority revenue bond authorizations. - Utah Statutes

63B-9-102. State Building Ownership Authority revenue bond authorizations.
(1) It is the intent of the Legislature that the State Building Ownership Authority, underthe authority of Title 63B, Chapter 1, Part 3, State Building Ownership Authority Act, may issueor execute obligations, or enter into or arrange for a lease purchase agreement in whichparticipation interests may be created, to provide up to $10,500,000 for the construction of amultipurpose building for the state fair park, together with additional amounts necessary to:
(a) pay costs of issuance;
(b) pay capitalized interest; and
(c) fund any debt service reserve requirements.
(2) The State Building Ownership Authority shall work cooperatively with the board ofdirectors of the Utah State Fair Corporation to seek out the most effective and prudent leasepurchase plan available.

Amended by Chapter 382, 2008 General Session