Utah Code 73-10-28. Charges for use — Interest

(1)	As used in this section, “board” means the Board of Water Resources created in Section 73-10-1.5.

Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
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

(2)

The board shall establish:

(a)

a charge for the use of water, power, or a facility based on:

(i)	a contractual agreement approved by the board for a project owned by the state; and

(ii)	the ability of an individual project to return the investment to the state; and

(b)

an interest rate for the money the board lends to finance a project based on:

(i)	market conditions;

(ii)	the repayment ability of the project; and

(iii)

other factors considered relevant by the board.

Amended by Chapter 267, 2008 General Session