H.B. 2004

1

TRANSPORTATION GENERAL OBLIGATION
2 BOND MODIFICATIONS
3 2008 SECOND SPECIAL SESSION
4 STATE OF UTAH
5 Chief Sponsor: Wayne A. Harper
6 Senate Sponsor: Michael G. Waddoups
7
8 LONG TITLE
9 General Description:
10 This bill modifies general obligation bond provisions relating to the use of bond
11 proceeds for certain transportation projects.
12 Highlighted Provisions:
13 This bill:
14 . provides that a portion of certain general obligation bond proceeds previously
15 authorized that were allocated for certain transportation projects within Taylorsville
16 City may also be used for an environmental study and preliminary engineering at
17 5400 South and Interstate 215; and
18 . makes technical changes.
19 Monies Appropriated in this Bill:
20 None
21 Other Special Clauses:
22 This bill provides an immediate effective date.
23 Utah Code Sections Affected:
24 AMENDS:
25 63B-16-102, as last amended by Laws of Utah 2008, Chapter 337
26
27 Be it enacted by the Legislature of the state of Utah:

28 Section 1. Section 63B-16-102 is amended to read:
29 63B-16-102. Highway bonds -- Maximum amount -- Projects authorized.
30 (1) (a) The total amount of bonds issued under this section may not exceed
31 $100,000,000.
32 (b) When the Department of Transportation certifies to the commission the amount of
33 bond proceeds that it needs to provide funding for the highway construction project described
34 in Subsection (2) for the next fiscal year, the commission may issue and sell general obligation
35 bonds in an amount equal to the certified amount plus costs of issuance.
36 (2) (a) As used in this Subsection (2), "Mountain View Corridor" means the land area
37 of Salt Lake County running from Interstate 80 south between SR-154 and SR-111 to 12600
38 South and then south and southeasterly to the northern portion of Utah County west of SR-15.
39 (b) Except as provided in Subsection (3), proceeds from the issuance of bonds shall be
40 provided to the Department of Transportation to pay for the costs of acquiring rights-of-way
41 and constructing a highway construction project within the Mountain View Corridor.
42 (c) The Department of Transportation shall use bond proceeds to pay for the portion of
43 the highway construction project described in this Subsection (2) that is located in Salt Lake
44 County.
45 (d) The costs under this Subsection (2) may include the cost of acquiring land, interests
46 in land, easements and rights-of-way, improving sites, and making all improvements necessary,
47 incidental, or convenient to the facilities, interest estimated to accrue on these bonds during the
48 period to be covered by construction of the projects plus a period of six months after the end of
49 the construction period, interest estimated to accrue on any bond anticipation notes issued
50 under the authority of this title, and all related engineering, architectural, and legal fees.
51 (3) (a) Thirty million dollars of the bond proceeds issued under this section shall be
52 provided to the Department of Transportation and funds under Subsection 72-2-121 (4)(c) shall
53 be used by the Department of Transportation to pay for or to provide funds to a municipality or
54 county to pay for the costs of right-of-way acquisition, construction, reconstruction,
55 renovations, or improvements to highways described in Subsection (3)(b).
56 (b) Bond proceeds described under Subsection (3)(a) and funds under Subsection
57 72-2-121 (4)(c) shall be used to pay the amounts described in this Subsection (3)(b) for the
58 following highways in Salt Lake County:

59 (i) $6,500,000 to Taylorsville City for:
60 (A) 6200 South and Redwood Road intersection, interchange, and highway
61 improvements; and
62 (B) an environmental study and preliminary engineering at 5400 South and Interstate
63 215;
64 (ii) $2,000,000 to West Valley City for 7200 West;
65 (iii) $4,000,000 to West Jordan City for 7800 South and Airport Road intersection and
66 highway improvements;
67 (iv) $6,250,000 to Sandy City for 1300 East, 9000 South to 11400 South, and State
68 Street to Interstate 15;
69 (v) $1,500,000 to Riverton City for right-of-way acquisition between Mountain View
70 Corridor and Bangerter Highway north of 13400 South;
71 (vi) $3,500,000 for highway and bridge construction and reconstruction on 14600
72 South;
73 (vii) $11,000,000 to Draper City for the costs of highway improvements in the Salt
74 Lake County portion of Draper City;
75 (viii) $1,000,000 to Murray City for highway improvements for Cottonwood Street;
76 (ix) $1,000,000 to Cottonwood Heights for Fort Union Boulevard between 1300 East
77 and Highland Drive;
78 (x) $1,000,000 to Midvale City for State Street between 7200 South and 9000 South;
79 and
80 (xi) $250,000 to Salt Lake County for 2300 East.
81 (c) Prior to a municipality or county receiving funds described in this Subsection (3),
82 the municipality or county shall sign and file a written certification with the department
83 certifying that it will use the funds provided under this Subsection (3) solely for the projects
84 described in Subsection (3)(b).
85 (4) The commission or the state treasurer may make any statement of intent relating to
86 a reimbursement that is necessary or desirable to comply with federal tax law.
87 (5) The Department of Transportation may enter into agreements related to the project
88 before the receipt of proceeds of bonds issued under this chapter.
89 Section 2. Effective date.

90 If approved by two-thirds of all the members elected to each house, this bill takes effect
91 upon approval by the governor, or the day following the constitutional time limit of Utah
92 Constitution Article VII, Section 8, without the governor's signature, or in the case of a veto,
93 the date of veto override.




Legislative Review Note
as of 9-26-08 9:16 AM

Office of Legislative Research and General Counsel