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H.B. 5 Enrolled

             1     

REVENUE BOND, CAPITAL FACILITY, AND

             2     
PROPERTY ACQUISITION AUTHORIZATIONS

             3     
2008 GENERAL SESSION

             4     
STATE OF UTAH

             5     
Chief Sponsor: Kevin S. Garn

             6     
Senate Sponsor: Scott K. Jenkins

             7     
             8      LONG TITLE
             9      General Description:
             10          This bill authorizes certain state agencies and higher education institutions to issue
             11      revenue bonds, build capital facilities using agency or institutional funds, transfer capital
             12      facilities monies between funds, or acquire or exchange property.
             13      Highlighted Provisions:
             14          This bill:
             15          .    authorizes the issuance of revenue bonds by the State Building Ownership Authority
             16      and the State Board of Regents;
             17          .    authorizes other capital facility construction to be funded from agency or
             18      institutional funds;
             19          .    authorizes the transfer of certain higher education capital facilities monies from one
             20      fund to another; and
             21          .    authorizes the acquisition or exchange of certain state property.
             22      Monies Appropriated in this Bill:
             23          None
             24      Other Special Clauses:
             25          None
             26      Utah Code Sections Affected:
             27      ENACTS:
             28          63B-17-101, Utah Code Annotated 1953
             29          63B-17-102, Utah Code Annotated 1953


             30          63B-17-201, Utah Code Annotated 1953
             31          63B-17-202, Utah Code Annotated 1953
             32          63B-17-301, Utah Code Annotated 1953
             33     
             34      Be it enacted by the Legislature of the state of Utah:
             35          Section 1. Section 63B-17-101 is enacted to read:
             36     
Part 1. 2008 Revenue Bond Authorizations

             37          63B-17-101. Revenue bond authorizations -- State Building Ownership Authority.
             38          (1) The Legislature intends that:
             39          (a) the State Building Ownership Authority, under the authority of Title 63B, Chapter
             40      1, Part 3, State Building Ownership Authority Act, may issue or execute obligations, or enter
             41      into or arrange for a lease purchase agreement in which participation interests may be created,
             42      to provide up to $90,000,000 for the acquisition and construction of phase II-B of a cancer
             43      clinical research hospital facility adjacent to the University of Utah Medical Center, together
             44      with additional amounts necessary to pay costs of issuance, pay capitalized interest, and fund
             45      any debt service reserve requirements;
             46          (b) the University of Utah use institutional funds as the primary revenue source for
             47      repayment of any obligation created under authority of this section;
             48          (c) the university may plan, design, and construct phase II-B of a cancer clinical
             49      research hospital facility subject to the requirements of Section 63A-5-206 ; and
             50          (d) the university may not request state funds for operation and maintenance costs or
             51      capital improvements.
             52          (2) The Legislature intends that:
             53          (a) the State Building Ownership Authority, under the authority of Title 63B, Chapter
             54      1, Part 3, State Building Ownership Authority Act, may issue or execute obligations, or enter
             55      into or arrange for a lease-purchase agreement in which participation interests may be created,
             56      to provide up to $23,700,000 for the acquisition and construction of five stores for the
             57      Department of Alcoholic Beverage Control, together with additional amounts necessary to pay


             58      costs of issuance, pay capitalized interest, and fund any debt service reserve requirements;
             59          (b) the stores to be addressed through this authorization are:
             60          (i) the replacement of a liquor store in Cedar City;
             61          (ii) a new Utah County North liquor store;
             62          (iii) a new Utah County South liquor store;
             63          (iv) a new Washington County South liquor store; and
             64          (v) a new Summit County Heber/Midway liquor store;
             65          (c) the Department of Alcoholic Beverage Control use increased sales revenues as the
             66      primary revenue source for repayment of any obligation created under authority of this section;
             67      and
             68          (d) the Department of Alcoholic Beverage Control may request operation and
             69      maintenance funding from sales revenues.
             70          Section 2. Section 63B-17-102 is enacted to read:
             71          63B-17-102. Revenue bond authorizations -- Board of Regents.
             72          (1) The Legislature intends that:
             73          (a) the Board of Regents, on behalf of the University of Utah, may issue, sell, and
             74      deliver revenue bonds or other evidences of indebtedness of the University of Utah to borrow
             75      money on the credit, revenues, and reserves of the university, other than appropriations of the
             76      Legislature, to finance the cost of constructing a northwest campus parking structure;
             77          (b) the University of Utah use parking fees and donations as the primary revenue source
             78      for repayment of any obligation created under authority of this section;
             79          (c) the maximum amount of revenue bonds or other evidences of indebtedness
             80      authorized by this section is $21,280,000, together with other amounts necessary to pay costs
             81      of issuance, pay capitalized interest, and fund any debt service reserve requirements;
             82          (d) the university may plan, design, and construct the northwest campus parking
             83      structure subject to the requirements of Section 63A-5-206 ; and
             84          (e) the university may not request state funds for operation and maintenance costs or
             85      capital improvements.


             86          (2) The Legislature intends that:
             87          (a) the Board of Regents, on behalf of Utah State University, may issue, sell, and
             88      deliver revenue bonds or other evidences of indebtedness of Utah State University to borrow
             89      money on the credit, revenues, and reserves of the university, other than appropriations of the
             90      Legislature, to finance the cost of constructing an early childhood education research center;
             91          (b) Utah State University use institutional funds as the primary revenue source for
             92      repayment of any obligation created under authority of this section;
             93          (c) the maximum amount of revenue bonds or other evidences of indebtedness
             94      authorized by this section is $15,828,000, together with other amounts necessary to pay costs
             95      of issuance, pay capitalized interest, and fund any debt service reserve requirements;
             96          (d) the university may plan, design, and construct the early childhood education
             97      research center subject to the requirements of Section 63A-5-206 ; and
             98          (e) the university may request state funds for operation and maintenance costs and
             99      capital improvements to the extent that the university is able to demonstrate to the Board of
             100      Regents that the facility meets approved academic and training purposes under Board of
             101      Regents policy R710.
             102          (3) It is the intent of the Legislature that:
             103          (a) the Board of Regents, on behalf of Southern Utah University, may issue, sell, and
             104      deliver revenue bonds or other evidences of indebtedness of Southern Utah University to
             105      borrow money on the credit, revenues, and reserves of the university, other than appropriations
             106      of the Legislature, to finance the cost of constructing a Shakespearean theater;
             107          (b) Southern Utah University institutional funds be used as the primary revenue source
             108      for repayment of any obligation created under authority of this section;
             109          (c) the bonds or other evidences of indebtedness authorized by this section may provide
             110      up to $5,000,000, together with other amounts necessary to pay costs of issuance, pay
             111      capitalized interest, and fund any debt service reserve requirements;
             112          (d) the university may plan, design, and construct the theater subject to the
             113      requirements of Section 63A-5-206 ; and


             114          (e) the university may request state funds for operation and maintenance costs and
             115      capital improvements to the extent that the university is able to demonstrate to the Board of
             116      Regents that the facility meets approved academic and training purposes under Board of
             117      Regents policy R710.
             118          Section 3. Section 63B-17-201 is enacted to read:
             119     
Part 2. Capital Facility Construction and Capital Facility Accounting Authorizations

             120          63B-17-201. Authorizations to construct capital facilities using institutional or
             121      agency funds.
             122          (1) The Legislature intends that:
             123          (a) the University of Utah may, subject to requirements in Section 63A-5-206 , use
             124      clinical fees and donations to plan, design, and construct a neuropsychiatric institute expansion;
             125          (b) no state funds be used for any portion of this project; and
             126          (c) the university may not request state funds for operation and maintenance costs or
             127      capital improvements.
             128          (2) The Legislature intends that:
             129          (a) the University of Utah may, subject to the requirements of Section 63A-5-206 , use
             130      donations to plan, design, and construct an arboretum visitor center addition;
             131          (b) no state funds be used for any portion of this project; and
             132          (c) the university may request state funds for operation and maintenance costs and
             133      capital improvements to the extent that the university is able to demonstrate to the Board of
             134      Regents that the facility meets approved academic and training purposes under Board of
             135      Regents policy R710.
             136          (3) The Legislature intends that:
             137          (a) Utah State University may, subject to the requirements of Section 63A-5-206 , use
             138      donations to plan, design, and construct a business building addition;
             139          (b) no state funds be used for any portion of this project; and
             140          (c) the university may request state funds for operation and maintenance costs and
             141      capital improvements to the extent that the university is able to demonstrate to the Board of


             142      Regents that the facility meets approved academic and training purposes under Board of
             143      Regents policy R710.
             144          (4) The Legislature intends that:
             145          (a) Utah State University may, subject to the requirements of Section 63A-5-206 , use
             146      donations to plan, design, and construct a Vernal entrepreneurship and energy research center;
             147          (b) no state funds be used for any portion of this project; and
             148          (c) the university may request state funds for operation and maintenance costs and
             149      capital improvements to the extent that the university is able to demonstrate to the Board of
             150      Regents that the facility meets approved academic and training purposes under Board of
             151      Regents policy R710.
             152          (5) The Legislature intends that:
             153          (a) Utah State University may, subject to the requirements of Section 63A-5-206 , use
             154      research grants and other institutional funds to plan, design, and construct a hydraulics
             155      laboratory addition to the water laboratory;
             156          (b) no state funds be used for any portion of this project; and
             157          (c) the university may not request state funds for operation and maintenance costs or
             158      capital improvements.
             159          (6) The Legislature intends that:
             160          (a) Utah State University may, subject to the requirements of Section 63A-5-206 , use
             161      insurance claim funds and other institutional funds to plan, design, and construct a structures
             162      laboratory enclosure;
             163          (b) no state funds be used for any portion of this project; and
             164          (c) the university may not request state funds for operation and maintenance costs or
             165      capital improvements.
             166          (7) The Legislature intends that:
             167          (a) Utah Valley University may, subject to the requirements of Section 63A-5-206 , use
             168      donations to plan, design, and construct a children's theater;
             169          (b) no state funds be used for any portion of this project; and


             170          (c) the university may request state funds for operation and maintenance costs and
             171      capital improvements to the extent that the university is able to demonstrate to the Board of
             172      Regents that the facility meets approved academic and training purposes under Board of
             173      Regents policy R710.
             174          (8) The Legislature intends that:
             175          (a) Southern Utah University may, subject to the requirements of Section 63A-5-206 ,
             176      use donations to plan and design a science center addition;
             177          (b) this authorization and the existence of plans and designs do not guarantee nor
             178      improve the chances for legislative approval of the remainder of the building in any subsequent
             179      year; and
             180          (c) no state funds be used for any portion of this planning and design.
             181          Section 4. Section 63B-17-202 is enacted to read:
             182          63B-17-202. Capital facility accounting authorizations.
             183          The Legislature intends that Utah State University transfer $225,000 from its Capital
             184      Contingency Reserve Fund for State Funded Projects into its Capital Project Reserve Fund.
             185          Section 5. Section 63B-17-301 is enacted to read:
             186     
Part 3. 2008 Property Acquisition Authorizations

             187          63B-17-301. Authorizations to acquire or exchange property.
             188          The Legislature intends that:
             189          (1) the Division of Facilities Construction and Management, acting on behalf of the
             190      Department of Natural Resources, may enter into a lease purchase agreement with Uintah
             191      County to provide needed space for agency programs in the area;
             192          (2) the agreement shall involve a trade at fair market value between the Division of
             193      Facilities Construction and Management and Uintah County of the following two properties:
             194          (a) that portion of the current Uintah County complex that is owned by the state,
             195      located at 147 East Main Street, Vernal, Utah, which currently houses the Department of
             196      Natural Resources and other state agencies; and
             197          (b) a parcel of land owned by Uintah County, located at approximately 318 North


             198      Vernal Avenue, Vernal, Utah, which would become the location of the needed space under the
             199      lease purchase agreement;
             200          (3) before entering into an agreement with Uintah County, the Division of Facilities
             201      Construction and Management shall ensure that all other state agencies in the Uintah County
             202      complex stay in their current location or receive adequate replacement space, with the terms of
             203      any replacement space acceptable to each state agency;
             204          (4) before entering into an agreement with Uintah County, the Department of Natural
             205      Resources shall obtain the approval of the State Building Board;
             206          (5) the State Building Board may approve the agreement only if the Department of
             207      Natural Resources demonstrates that the lease purchase will be a benefit to the state; and
             208          (6) before entering into an agreement with Uintah County, and after obtaining the
             209      approval of the State Building Board, the Department of Natural Resources shall report the
             210      terms of the agreement to the legislative Executive Appropriations Committee.


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