53F-9-601. Small School District Capital Projects Fund.
| (1) |
As used in this section:
Terms Used In Utah Code 53F-9-601- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
| (a) |
“Capital development project” means the same as that term is defined in Section 63A-5b-401. |
| (b) |
“Fund” means the Small School District Capital Projects Fund created in this section. |
|
| (2) |
| (a) |
There is created a capital projects fund known as the Small School District Capital Projects Fund. |
| (c) |
The fund shall:
| (i) |
be funded by:
| (A) |
one-time appropriations; and |
| (B) |
repayment and interest on loans described in Section 53F-10-302; and |
|
| (ii) |
accrue interest, which shall be deposited into the fund. |
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|
| (3) |
The state board shall authorize disbursements from the fund. |
| (4) |
The state board shall administer the fund in accordance with this section. |
Enacted by Chapter 407, 2022 General Session
