9-10-104. Duties -- Loans -- Interest.
(1) The board shall:
(a) subject to the other provisions of this chapter and an agreement entered into under
Title 11, Chapter 13, Interlocal Cooperation Act, among the state, the counties, and the Tribe,
make recommendations to the division for grants and loans from the revitalization fund to county
agencies and the Tribe that are or may be socially or economically impacted, directly or
indirectly, by mineral resource development;
(b) establish procedures for application for and award of grants and loans including:
(i) eligibility criteria;
(ii) subject to Subsection 9-10-106(2)(b), a preference that capital projects, including
subsidized and low-income housing, and other one-time need projects and programs have priority
over other projects;
(iii) a preference for projects and programs that are associated with the geographic area
where the oil and gas were produced; and
(iv) coordination of projects and programs with other projects and programs funded by
federal, state, and local governmental entities;
(c) determine the order in which projects will be funded;
(d) allocate the amount to be distributed from the revitalization fund for grants or loans
to each county and the Tribe during a fiscal year as follows:
(i) up to and including the first $3,000,000 that is approved for distribution by the board
during a fiscal year, the board may allocate the amount in accordance with the interlocal
agreement described by Subsection (1)(a), except that the board may not allocate less than 75%
of the amount under the interlocal agreement to the Tribe unless the interlocal agreement is
further modified by statute; and
(ii) beginning with fiscal year 2007-08, any amount approved for distribution by the
board during that fiscal year in excess of $3,000,000 shall be allocated equally amongst each
county and the Tribe so that each receives 1/3 of the amount approved for distribution by the
board in excess of $3,000,000;
(e) qualify for, accept, and administer grants, gifts, loans, or other funds from the federal
government and from other sources, public or private; and
(f) perform other duties assigned to it under the interlocal agreement described in
Subsection (1)(a) that are not prohibited by law or otherwise modified by this chapter.
(2) The board shall ensure that loan repayments and interest are deposited into the
revitalization fund.
(3) The interlocal agreement described in Subsection (1)(a) shall be consistent with the
following statutes, including any subsequent amendments to those statutes:
(a) this chapter;
(b) Title 11, Chapter 13, Interlocal Cooperation Act;
(c) Section 59-5-116; and
(d) any other applicable provision of this Utah Code.
Amended by Chapter 104, 2007 General Session
Download Code Section Zipped WordPerfect 09_10_010400.ZIP 3,502 Bytes
Sections in this Chapter|Chapters in this Title|All Titles|Legislative Home Page
Last revised: Thursday, May 28, 2009