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First Substitute H.B. 242

Representative Wayne A. Harper proposes the following substitute bill:


             1     
TRANSPORTATION FUNDING REVISIONS

             2     
2008 GENERAL SESSION

             3     
STATE OF UTAH

             4     
Chief Sponsor: Wayne A. Harper

             5     
Senate Sponsor: Michael G. Waddoups

             6     
             7      LONG TITLE
             8      General Description:
             9          This bill modifies provisions relating to the use of monies in the County of the First
             10      Class State Highway Projects Fund.
             11      Highlighted Provisions:
             12          This bill:
             13          .    provides that $30,000,000 of certain bond proceeds previously authorized shall be
             14      used to pay for or to provide funds to a municipality or county to pay for the costs of
             15      right-of-way acquisition, construction, reconstruction, renovations, or improvements
             16      to certain highways within Salt Lake County;
             17          .    requires that, for the fiscal year 2008-2009 only, the Executive Director of the
             18      Department of Transportation shall use monies in the County of the First Class State
             19      Highway Projects Fund to pay for or to provide a municipality or county funds to
             20      pay for the costs of right-of-way acquisition, construction, reconstruction,
             21      renovations, or improvements to certain highways within Salt Lake County; and
             22          .    makes technical changes.
             23      Monies Appropriated in this Bill:
             24          None
             25      Other Special Clauses:


             26          This bill takes effect on July 1, 2008.
             27      Utah Code Sections Affected:
             28      AMENDS:
             29          63B-16-102, as enacted by Laws of Utah 2007, Chapter 201
             30          72-2-121, as last amended by Laws of Utah 2007, Chapter 201
             31     
             32      Be it enacted by the Legislature of the state of Utah:
             33          Section 1. Section 63B-16-102 is amended to read:
             34           63B-16-102. Highway bonds -- Maximum amount -- Projects authorized.
             35          (1) (a) The total amount of bonds issued under this section may not exceed
             36      $100,000,000.
             37          (b) When the Department of Transportation certifies to the commission the amount of
             38      bond proceeds that it needs to provide funding for the highway construction project described
             39      in Subsection (2) for the next fiscal year, the commission may issue and sell general obligation
             40      bonds in an amount equal to the certified amount plus costs of issuance.
             41          (2) (a) As used in this Subsection (2), "Mountain View Corridor" means the land area
             42      of Salt Lake County running from Interstate 80 south between SR-154 and SR-111 to 12600
             43      South and then south and southeasterly to the northern portion of Utah County west of SR-15.
             44          (b) [Proceeds] Except as provided in Subsection (3), proceeds from the issuance of
             45      bonds shall be provided to the Department of Transportation to pay for the costs of acquiring
             46      rights-of-way and constructing a highway construction project within the Mountain View
             47      Corridor.
             48          (c) The Department of Transportation shall use bond proceeds to pay for the portion of
             49      the highway construction project described in Subsection (2) that is located in Salt Lake
             50      County.
             51          (d) The costs under this Subsection (2) may include the cost of acquiring land, interests
             52      in land, easements and rights-of-way, improving sites, and making all improvements necessary,
             53      incidental, or convenient to the facilities, interest estimated to accrue on these bonds during the
             54      period to be covered by construction of the projects plus a period of six months after the end of
             55      the construction period, interest estimated to accrue on any bond anticipation notes issued
             56      under the authority of this title, and all related engineering, architectural, and legal fees.


             57          (3) (a) $30,000,000 of the bond proceeds issued under this section shall be provided to
             58      the Department of Transportation and funds under Subsection 72-2-121 (4)(c) shall be used by
             59      the Department of Transportation to pay for or to provide funds to a municipality or county to
             60      pay for the costs of right-of-way acquisition, construction, reconstruction, renovations, or
             61      improvements to highways described in Subsection (3)(b).
             62          (b) Bond proceeds described under Subsection (3)(a) and funds under Subsection
             63      72-2-121 (4)(c) shall be used to pay the amounts described in this Subsection (3)(b) for the
             64      following highways in Salt Lake County:
             65          (i) $6,500,000 to Taylorsville City for 6200 South and Redwood Road intersection,
             66      interchange, and highway improvements;
             67          (ii) $3,000,000 to West Valley City for 7200 West;
             68          (iii) $4,000,000 to West Jordan City for 7800 South and Airport Road intersection and
             69      highway improvements;
             70          (iv) $6,500,000 to Sandy City for 1300 East, 9000 South to 11400 South, and State
             71      Street to Interstate 15;
             72          (v) $1,500,000 to Riverton City for right-of-way acquisition between Mountain View
             73      Corridor and Bangerter Highway north of 13400 South;
             74          (vi) $3,500,000 for highway and bridge construction and reconstruction on 14600
             75      South;
             76          (vii) $11,000,000 to Draper City for the costs of highway improvements in the Salt
             77      Lake County portion of Draper City;
             78          (viii) $1,000,000 to Murray City for highway and intersection improvements for 6400
             79      South and Cottonwood Street; and
             80          (ix) $1,000,000 to Cottonwood Heights for Fort Union Boulevard between 1300 East
             81      and Highland Drive.
             82          [(3)] (4) The commission or the state treasurer may make any statement of intent
             83      relating to a reimbursement that is necessary or desirable to comply with federal tax law.
             84          [(4)] (5) The Department of Transportation may enter into agreements related to the
             85      project before the receipt of proceeds of bonds issued under this chapter.
             86          Section 2. Section 72-2-121 is amended to read:
             87           72-2-121. County of the First Class State Highway Projects Fund.


             88          (1) There is created a special revenue fund entitled the County of the First Class State
             89      Highway Projects Fund.
             90          (2) The fund consists of monies generated from the following revenue sources:
             91          (a) any voluntary contributions received for new construction, major renovations, and
             92      improvements to state highways within a county of the first class;
             93          (b) the portion of the sales and use tax described in Subsection 59-12-502 (5)(a)[(ii)]
             94      deposited in or transferred to the fund;
             95          (c) the portion of the sales and use tax described in Subsection 59-12-1703 (4)(a)(ii)
             96      and required by Subsection 59-12-1703 (7)(b)(ii) to be deposited in or transferred to the fund;
             97      and
             98          (d) a portion of the local option transportation corridor preservation fee imposed in a
             99      county of the first class under Section 41-1a-1222 deposited in or transferred to the fund.
             100          (3) (a) The fund shall earn interest.
             101          (b) All interest earned on fund monies shall be deposited into the fund.
             102          (4) The executive director [may] shall use fund monies only:
             103          (a) to pay debt service and bond issuance costs for bonds issued under Section
             104      63B-16-102 ; [and]
             105          (b) for right-of-way acquisition, new construction, major renovations, and
             106      improvements to state highways within a county of the first class and to pay any debt service
             107      and bond issuance costs related to those projects[.]; and
             108          (c) for fiscal year 2008-09 only, to pay for or to provide funds to a municipality or
             109      county to pay for right-of-way acquisition, construction, reconstruction, renovations, and
             110      improvements to highways described in Subsection 63B-16-102 (3).
             111          (5) The revenues described in Subsections (2)(b), (c), and (d) that are deposited in the
             112      fund and bond proceeds from bonds issued under Section 63B-16-102 are considered a local
             113      matching contribution for the purposes described under Section 72-2-123 .
             114          (6) The additional administrative costs of the department to administer this fund shall
             115      be paid from the monies in the fund.
             116          Section 3. Effective date.
             117          This bill takes effect on July 1, 2008.


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