9-4-301. Legislative intent -- Purpose and policy.
(1) It is the intent of the Legislature to make available funds received by the state from
federal mineral lease revenues under Section 59-21-2, bonus payments on federal oil shale lease
tracts U-A and U-B, and all other bonus payments on federal mineral leases to be used for the
alleviation of social, economic, and public finance impacts resulting from the development of
natural resources in this state, subject to the limitations provided for in Section 35 of the Mineral
Leasing Act of 1920 (41 Stat. 450, 30 U.S.C. Sec. 191).
(2) The purpose of this part is to maximize the long term benefit of funds derived from
these lease revenues and bonus payments by fostering funding mechanisms which will, consistent
with sound financial practices, result in the greatest use of financial resources for the greatest
number of citizens of this state, with priority given to those communities designated as impacted
by the development of natural resources covered by the Mineral Leasing Act.
(3) The policy of this state is to promote cooperation and coordination between the state
and its agencies and political subdivisions with individuals, firms, and business organizations
engaged in the development of the natural resources of this state. The purpose of such efforts
should include private sector participation, financial and otherwise, in the alleviation of impacts
associated with resources development activities.
Renumbered and Amended by Chapter 241, 1992 General Session
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Last revised: Thursday, May 28, 2009