2-17-1201. Short title

2-17-1201. Short title. This part may be cited as the “State Building Construction Loan Act of 2021”. History: En. Sec. 1, Ch. 333, L. 2021.

2-17-1202. Definitions

2-17-1202. Definitions. As used in this part, unless the context clearly indicates otherwise, the following definitions apply: (1) ”Building” has the meaning given in 18-2-101. (2) ”Financial institution” means a bank as defined in 32-1-102 or other regulated lender as defined in 31-1-111(1) and (2). (3) ”Physical branch” means a physical location of a financial institution that accepts deposits […]

2-17-1203. Authority to use state building construction loans

2-17-1203. Authority to use state building construction loans. (1) If a public agency is otherwise authorized to borrow money by obtaining a loan to finance the construction of one or more of its buildings, the public agency may obtain a state building construction loan in accordance with this part to finance all or a portion of […]

2-17-1204. Selecting lender for state building construction loan — process

2-17-1204. Selecting lender for state building construction loan — process. (1) Except as provided in subsections (2) and (3), when selecting a financial institution to be the lender for a state building construction loan, a public agency shall select the financial institution that is the lowest responsible bidder in terms of interest rate, without regard to […]