February 23, 2007 (6:13pm)
Mr. Speaker:
The Rules Committee recommends that, under suspension of the rules, H.B. 473,
Revenue Bond and Capital Facilities Authorizations (Rep. D. G. Buxton) be considered read for
the second time and placed on the Third Reading Calendar with the following amendments:
Respectfully,
Rep. Stephen H. Urquhart
1. Page
2, Lines 35 through 48
:
35
Authority.
(a) the State Building Ownership Authority, under the authority of Title
63B, Chapter 1, Part 3, State Building Ownership Authority Act, may issue or
execute obligations, or enter into or arrange for a lease-purchase agreement
in which participation interests may be created, to provide up to $5,662,000
for the acquisition and construction of three stores for the Department of
Alcoholic Beverage Control, together with additional amounts necessary to
pay costs of issuance, pay capitalized interest, and fund any debt service
reserve requirements;
(b) the stores to be addressed through this authorization are:
(i) expansion of the North Temple store in Salt Lake County;
(ii) expansion of the Taylorsville store in Salt Lake County; and
(iii) reconstruction of the Bountiful store in Davis County;
(c) increased sales revenues be used as the primary revenue source for
repayment of any obligation created under authority of this section; and
(d) the Department of Alcoholic Beverage Control may request operation
and maintenance funding from sales revenues.
36
37
(1)
}
(a)
the State Building Ownership Authority, under the authority of
Title 63B, Chapter
38
1, Part 3, State Building Ownership Authority Act, may issue or execute obligations, or
enter
39
into or arrange for a lease purchase agreement in which participation interests may be
created,
40
to provide up to $1,476,000 for the acquisition and construction of a production
warehouse for
41
Utah Correctional Industries, together with additional amounts necessary to pay costs of
42
issuance, pay capitalized interest, and fund any debt service reserve requirements;
43
(2)
}
(b)
Utah Correctional Industries' revenues be used as the primary
revenue source for
44
repayment of any obligation created under authority of this section;
45
(3)
}
(c)
Utah Correctional Industries may plan, design, and construct the
production
46
warehouse subject to requirements in Section
63A-5-206
; and
47
(4)
}
(d)
Utah Correctional Industries may not request state funds for
operation and
48
maintenance costs or capital improvements.
2. Page
2, Line 51 through Page 3, Line 65
:
51
(a) when the University of Utah certifies to the Board of Regents that the
university has obtained reliable commitments, convertible to cash, of $15,000,000 or
more in nonstate funds to construct an on-campus student life center, the Board of
Regents, on behalf of the University of Utah, may issue, sell, and deliver revenue
bonds or other evidences of indebtedness of the University of Utah to borrow money
on the credit, revenues, and reserves of the University of Utah, other than
appropriations of the Legislature, to finance the cost of constructing an on-campus
student life center;
(b) student recreation fees be used as the primary revenue source for
repayment of any obligation created under authority of this section;
(c) the University of Utah may increase student recreation fees to not more
than $60 per semester for not more than 20 years to service the student life center
revenue bond debt;
(d) the bonds or other evidences of indebtedness authorized by this section
may provide up to $42,500,000, together with other amounts necessary to pay costs
of issuance, pay capitalized interest, and fund any debt service reserve
requirements;
(e) the University of Utah may plan, design, and construct the on-campus
student dormitories subject to requirements in UCA 63A-5-206; and
(f) the university may not request state funds for operation and maintenance
costs or capital improvements.
(2)
It is the intent of the Legislature that:
(1)
}
(a)
the Board of Regents, on behalf of Southern Utah University, may
issue, sell, and
53
deliver revenue bonds or other evidences of indebtedness of Southern Utah University to
54
borrow money on the credit, revenues, and reserves of Southern Utah University, other
than
55
appropriations of the Legislature, to finance the cost of constructing on-campus student
56
dormitories;
57
(2)
}
(b)
student housing rental fees be used as the primary revenue source
for repayment of
58
any obligation created under authority of this section;
59
(3)
}
(c)
the bonds or other evidences of indebtedness authorized by this
section may
60
provide up to $17,500,000, together with other amounts necessary to pay costs of
issuance, pay
61
capitalized interest, and fund any debt service reserve requirements;
62
(4)
}
(e)
Southern Utah University may plan, design, and construct the
on-campus student
63
dormitories subject to requirements in Section
63A-5-206
; and
64
(5)
}
(f)
the university may not request state funds for operation and
maintenance costs or
65
capital improvements.
Chair