73-10d-7 - Agreements by political subdivisions for privatization projects -- Joint interests. - Utah Statutes

73-10d-7. Agreements by political subdivisions for privatization projects -- Jointinterests.
(1) Any one or more political subdivisions, or the United States or any of its agencies,may enter into long-term agreements with any person for joint or cooperative action related to theacquisition, construction, maintenance, ownership, operation, and improvement of privatizationprojects in accordance with the terms, conditions, and consideration provided in any long-termagreements. Any payments made by a political subdivision under a long-term agreement forjoint or cooperative action may not be construed to be an indebtedness of or a lending of thecredit of the political subdivision within the meaning of any constitutional or statutory restriction,and, except as required by this chapter and the constitution, no election is necessary for theauthorization of any long-term agreement for joint or cooperative action.
(2) Any one or more political subdivisions may construct, purchase, or otherwise acquirejoint interests in any privatization project or any part of a privatization project, for common usewith any private entity or other political subdivision, or may sell or lease to any other politicalsubdivision or person a partial interest in a privatization project. Political subdivisions mayfinance their joint interests in privatization projects in the manner provided for and subject toTitle 11, Chapter 14, Local Government Bonding Act, if otherwise eligible thereunder to financecapital improvement.

Amended by Chapter 105, 2005 General Session