Affected by 63I-1-211 on 1/1/2029
Effective 5/4/2022
11-59-205. Authority funds.
- (1) Authority funds consist of all money that the authority receives from any source, including:
- (a) money appropriated by the Legislature;
- (b) money from lease revenue;
- (c) revenue from fees or other charges imposed by the authority; and
- (d) other money paid to or acquired by the authority, as provided in this chapter or other applicable law.
- (2) The authority may use authority funds to carry out any of the powers of the authority under this chapter or for any purpose authorized under this chapter, including:
- (a) providing long-term benefits to the state from the development or use of point of the mountain state land;
- (b) investment in authority projects;
- (c) repayment of point of the mountain infrastructure loans;
- (d) repayment of or collateral for authority bonds;
- (e) the sharing of money with other governmental entities under an interlocal agreement; and
- (f) paying any consulting fees, staff salaries, and other administrative, overhead, legal, and operating expenses of the authority.
- (3) The authority may not spend or use any money the authority receives under Section 10-1-304, 11-59-206, 11-59-207, or 11-59-208 until after June 30, 2023.
Enacted by Chapter 237, 2022 General Session