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S.B. 86 Enrolled

                 

2004 GENERAL OBLIGATION BOND

                 
AMENDMENTS

                 
2005 GENERAL SESSION

                 
STATE OF UTAH

                 
Chief Sponsor: Peter C. Knudson

                 
House Sponsor: Craig W. Buttars

                 
                  LONG TITLE
                  General Description:
                      This bill eliminates a project authorized by the Legislature to be built or purchased from
                  the proceeds of the 2004 General Obligation Bond.
                  Highlighted Provisions:
                      This bill:
                      .    removes the monies earmarked in the 2004 General Obligation Bond Authorization
                  for the Oxbow Jail purchase.
                  Monies Appropriated in this Bill:
                      None
                  Other Special Clauses:
                      None
                  Utah Code Sections Affected:
                  AMENDS:
                      63B-13-101, as enacted by Chapter 310, Laws of Utah 2004
                 
                  Be it enacted by the Legislature of the state of Utah:
                      Section 1. Section 63B-13-101 is amended to read:
                       63B-13-101. Capital facilities bonds -- Maximum amount -- Projects authorized.
                      (1) The total amount of bonds issued under this section may not exceed $87,400,000.
                      (2) (a) Proceeds from the issuance of bonds shall be provided to the division to provide
                  funds to pay all or part of the cost of acquiring and constructing the projects listed in this


                  Subsection (2).
                      (b) These costs may include the cost of acquiring land, interests in land, easements and
                  rights-of-way, improving sites, and acquiring, constructing, equipping, and furnishing facilities
                  and all structures, roads, parking facilities, utilities, and improvements necessary, incidental, or
                  convenient to the facilities, interest estimated to accrue on these bonds during the period to be
                  covered by construction of the projects plus a period of six months after the end of the
                  construction period, and all related engineering, architectural, and legal fees.
                      (c) For the division, proceeds shall be provided for the following:
                  -------------------------------------------------------------------------------------------------------------------
                  CAPITAL DEVELOPMENT PROJECTS
                                      Estimated        
                                      Operations        Project
                  Project                and            Amount
                  Description                Maintenance        Funded
                  ----------------------------         ----------------- ----------------
                  State Capitol Remodel        $0            $50,000,000
                  Weber State University -
                  Swenson Building Remodel    $75,400        $5,569,000
                  Salt Lake Community College -
                  Health Sciences Building
                  (West Jordan)            $762,000        $21,000,000
                  Utah National Guard -
                  North Salt Lake
                  Readiness Center            $42,500        $2,719,000
                  College of Eastern Utah
                  San Juan Library            $127,200        $2,400,000
                  [Oxbow Prison Purchase]        [$0]            [$4,800,000]
                          


                  TOTAL CAPITAL
                  DEVELOPMENT
                  PROJECTS                                $86,488,000        
                  -------------------------------------------------------------------------------------------------------------------
                  TOTAL GENERAL OBLIGATION BOND AUTHORIZATION
                  FOR CAPITAL DEVELOPMENT PROJECTS                 $86,488,000
                  -------------------------------------------------------------------------------------------------------------------
                      (d) For purposes of this section, operations and maintenance costs:
                      (i) are estimates only;
                      (ii) may include any operations and maintenance costs already funded in existing agency
                  budgets; and
                      (iii) are not commitments by this Legislature or future Legislatures to fund those
                  operations and maintenance costs.
                      (3) (a) The amounts funded as listed in Subsection (2) are estimates only and do not
                  constitute a limitation on the amount that may be expended for any project.
                      (b) The board may revise these estimates and redistribute the amount estimated for a
                  project among the projects authorized.
                      (c) The commission, by resolution and in consultation with the board, may delete one or
                  more projects from this list if the inclusion of that project or those projects in the list could be
                  construed to violate state law or federal law or regulation.
                      (4) (a) The division may enter into agreements related to these projects before the receipt
                  of proceeds of bonds issued under this chapter.
                      (b) The division shall make those expenditures from unexpended and unencumbered
                  building funds already appropriated to the Capital Projects Fund.
                      (c) The division shall reimburse the Capital Projects Fund upon receipt of the proceeds
                  of bonds issued under this chapter.
                      (d) The state intends to use proceeds of tax-exempt bonds to reimburse itself for
                  expenditures for costs of the projects listed in Subsection (2)(c).


                      (5) It is the intent of the Legislature that:
                      (a) the funding authorized for projects in Subsection (2) includes funds for public art,
                  except for the following projects:
                      (i) state capitol remodel; and
                      (ii) Utah National Guard North Salt Lake Readiness Center; [and]
                      [(iii) Oxbow prison;]
                      (b) no state funds may be expended for the National Guard North Salt Lake Readiness
                  Center project until the United States Congress appropriates monies for the project; and
                      (c) the Bonding Commission may not issue bonds for the National Guard North Salt
                  Lake Readiness Center project until the United States Congress appropriates monies for the
                  project.


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