63B-15-202 - Revenue bond authorizations -- Board of Regents. - Utah Statutes

63B-15-202. Revenue bond authorizations -- Board of Regents.
It is the intent of the Legislature that:
(1) the Board of Regents, on behalf of Dixie State College, may issue, sell, and deliverrevenue bonds or other evidences of indebtedness of Dixie State College to borrow money on thecredit, revenues, and reserves of Dixie State College, other than appropriations of the Legislature,to finance the cost of acquiring the Abby Apartment complex;
(2) housing rental fees be used as the primary revenue source for repayment of anyobligation created under authority of this section;
(3) the bonds or other evidences of indebtedness authorized by this section may provideup to $1,275,000, together with other amounts necessary to pay costs of issuance, pay capitalizedinterest, and fund any debt service reserve requirements; and
(4) the college may not request state funds for operations and maintenance.

Enacted by Chapter 169, 2006 General Session