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H.C.R. 4
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9 LONG TITLE
10 General Description:
11 This concurrent resolution of the Legislature and the Governor encourages state
12 colleges and universities and the School and Institutional Trust Lands Administration to
13 work together as natural resources, located on School and Institutional Trust Lands, are
14 identified and developed to maximize the economic benefits of the trust beneficiaries.
15 Highlighted Provisions:
16 This resolution:
17 . encourages state colleges and universities to notify the School and Institutional
18 Trust Lands Administration whenever research results uncover innovative ways in
19 which resources with the potential to provide significant revenues, such as
20 hydrocarbons, precious and industrial metals, and renewable energy sources, could
21 be utilized to maximize the economic benefits in the best interests of the trust
22 beneficiaries; and
23 . encourages the development of resources on lands administered by the School and
24 Institutional Trust Lands Administration as a critical source to build the permanent
25 State School Fund to provide greater future education funding.
26 Special Clauses:
27 None
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29 Be it resolved by the Legislature of the state of Utah, the Governor concurring therein:
30 WHEREAS, Utah is a state endowed with abundant natural resources;
31 WHEREAS, the production of minerals benefits Utah's economy, communities,
32 government, and people;
33 WHEREAS, when that production occurs on school and institutional trust lands, there
34 is additional benefit to Utah's schools, universities, and other institutions that are the
35 beneficiaries of the land trusts established at statehood for their support;
36 WHEREAS, identifying new uses of natural resources from trust lands and developing
37 the minerals needed for their creative use are key steps to ensuring that the economic benefits
38 from the production of the resources will be optimized in the best interests of the beneficiaries
39 of the trust lands, to increasing the standard of living for all, to improving Utah's tax base, and
40 to providing greater economic independence of our country;
41 WHEREAS, the production of resources from trust lands generates substantial wealth
42 for Utah's schools and institutions, whose annual revenues have increased significantly and
43 whose permanent funds have increased from $19 million in 1983 to over $800 million today;
44 WHEREAS, the annual increases from trust lands to the permanent State School Fund
45 now exceed the increases that had accumulated during the first century after statehood, and the
46 endeavors of the School and Institutional Trust Lands Administration and Board of Trustees,
47 the State Treasurer, the Investment Advisory Committee, and the beneficiaries have been
48 highly successful;
49 WHEREAS, the School and Institutional Trust Lands Administration continuously
50 improves its database of the mineral, wind, and natural resources available on trust lands and
51 their uses for the benefit of Utah's school children and other beneficiaries of the trust lands;
52 WHEREAS, there have been numerous mutually advantageous collaborations between
53 Utah's colleges and universities and the School and Institutional Trust Lands Administration
54 since 1994 for many traditional uses of land such as the studies by Utah State University of the
55 Cinnamon Creek block, the recoverable timber in the Book Cliffs, the development plan for
56 Big Water, the University of Utah's studies of the permanent trust funds, and a market analysis
57 of the trust lands in St. George; and
58 WHEREAS, Utah's colleges and universities could, through research and
59 experimentation, identify and develop new, innovative uses for resources found on trust lands
60 whenever possible when applying for federal and institutional research grant projects:
61 NOW, THEREFORE, BE IT RESOLVED that the Legislature of the State of Utah, the
62 Governor concurring therein, encourage state colleges and universities to notify the School and
63 Institutional Trust Lands Administration whenever research results uncover innovative ways in
64 which resources with the potential to provide significant revenues, such as hydrocarbons,
65 precious and industrial metals, and renewable energy sources could be utilized to maximize the
66 economic benefits in the best interests of the trust beneficiaries.
67 BE IT FURTHER RESOLVED that the Legislature and the Governor encourage the
68 development of resources on lands administered by the School and Institutional Trust Lands
69 Administration as a critical source to build the permanent State School Fund to provide greater
70 future education funding.
71 BE IT FURTHER RESOLVED that the Legislature and the Governor recognize the
72 efforts of all parties named above that have contributed to the phenomenal growth of both the
73 revenue from Utah's trust lands and the growth of the trust funds that have led to the greatly
74 increased revenues to Utah's public schools and higher education beneficiaries.
75 BE IT FURTHER RESOLVED that a copy of this resolution be sent to all Utah public
76 universities, the Governor's Office of Economic Development, the Utah State Board of
77 Education, the Utah State Office of Education, the Utah State Board of Regents, the Board of
78 Trustees of the School and Institutional Trust Lands, and the School and Institutional Trust
79 Lands Administration.
Legislative Review Note
as of 1-11-07 10:59 AM