Section 106 – Financial reports — Audit — Surety bonds.
63H-6-106. Financial reports — Audit — Surety bonds. (1) (a) The corporation shall, following the close of each fiscal year, submit an annual report of its activities for the preceding year to the governor and the Legislature. (b) The report shall contain: (i) a complete operating report detailing the corporation’s activities; and (ii) financial statements […]
Section 107 – Enterprise fund — Creation — Revenue — Uses.
Effective 5/10/2016 63H-6-107. Enterprise fund — Creation — Revenue — Uses. (1) (a) There is created an enterprise fund entitled the Utah State Fair Fund. (b) The executive director shall administer the fund under the direction of the board. (2) The fund consists of money generated from the following revenue sources: (a) lease payments from […]
Section 108 – Operation of the state fair park.
Effective 5/4/2022 63H-6-108. Operation of the state fair park. (1) The corporation shall: (a) operate and maintain the state fair park in accordance with the facility maintenance standards approved by the division; (b) pay for all costs associated with operating and maintaining the state fair park; (c) obtain approval from the division before the corporation […]
Section 109 – Tax — Exemption — Tax equivalent payment.
Effective 5/10/2016 63H-6-109. Tax — Exemption — Tax equivalent payment. (1) The possession or beneficial use of property within the state fair park is exempt from taxation under Title 59, Chapter 4, Privilege Tax. (2) (a) Any agreement between the corporation and a person to develop property within the state fair park shall provide that […]
Section 202 – Resolution authorizing issuance of corporation bond — Presentation to Executive Appropriations Committee — Characteristics of bond.
Effective 5/10/2016 63H-6-202. Resolution authorizing issuance of corporation bond — Presentation to Executive Appropriations Committee — Characteristics of bond. (1) (a) The corporation may: (i) issue bonds on which the principal and interest are payable: (A) exclusively from the income, purchase or lease payments, and revenues of the corporation; or (B) from the corporation’s revenues […]
Section 203 – Sources from which a corporation bond may be made payable — Corporation powers regarding corporation bond.
Effective 5/10/2016 63H-6-203. Sources from which a corporation bond may be made payable — Corporation powers regarding corporation bond. (1) The principal and interest on a corporation bond may be made payable from the income and revenues of the corporation. (2) In connection with the issuance of a corporation bond, the corporation may: (a) pledge […]
Section 204 – Purchaser of a corporation bond.
Effective 5/10/2016 63H-6-204. Purchaser of a corporation bond. (1) The following may purchase a corporation bond with funds owned or controlled by the purchaser: (a) a person; (b) a political subdivision of the state; (c) another entity; or (d) a public or private officer. (2) Nothing in this part may be construed to relieve a […]
Section 205 – Obligee rights.
Effective 5/10/2016 63H-6-205. Obligee rights. In addition to a right that is conferred on an obligee of a corporation bond and subject to contractual restrictions binding on the obligee, an obligee may: (1) by mandamus, suit, action, or other proceeding: (a) compel the corporation and the corporation’s board, officers, agents, or employees to perform every […]
Section 105 – Executive director.
63H-6-105. Executive director. (1) (a) The board shall: (i) hire an executive director for the corporation as provided in this subsection; (ii) conduct a national search to find applicants for the position of executive director; and (iii) establish the salary, benefits, and other compensation of the executive director. (b) The board may appoint an interim […]
Section 103 – Utah State Fair Corporation — Legal status — Powers.
Effective 5/4/2022 63H-6-103. Utah State Fair Corporation — Legal status — Powers. (1) There is created an independent public nonprofit corporation known as the “Utah State Fair Corporation.” (2) The board shall file articles of incorporation for the corporation with the Division of Corporations and Commercial Code. (3) The corporation, subject to this chapter, has […]