Terms Used In Utah Code 73-10d-1

• Bonds: means obligations issued by a municipality or a county under Title 11, Chapter 17, Utah Industrial Facilities and Development Act, and the provisions of this chapter. See Utah Code 73-10d-3
• Contract: A legal written agreement that becomes binding when signed.
• Cost: means , with respect to any privatization project or facility related thereto, without limitation:

  (a)

  all costs of designing, planning, acquiring, constructing, reconstructing, modifying, improving, maintaining, equipping, extending, furnishing, and placing in service any privatization project, including architectural, planning, engineering, legal, and fiscal advisors' fees or costs, and any costs incident to the acquisition of any necessary property, easement, or right-of-way;

  (b)

  any costs incurred for preliminary planning to determine the economic or engineering feasibility of a proposed privatization project, including, without limitation, costs of economic investigations and studies, surveys, preparation of designs, plans, working drawings, specifications, and inspection and supervision of the construction of any facility;

  (c)	all costs incident to the purchase, installation, or financing of equipment, machinery, and other personal property required by a privatization project;

  (d)	all costs incident to the authorization and issuance of bonds, including accountants' fees, attorneys' fees, financial advisors' fees, underwriting fees, including bond discount, and other professional services and printing costs;

  (e)	all costs incident to the establishment and funding of appropriate reserve funds; and

  (f)

  interest estimated to accrue on any bonds issued to finance a privatization project for a reasonable period of time prior to construction, during construction, and for a reasonable period of time after construction. See Utah Code 73-10d-3 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      The Legislature declares that the policy of this state is to assure its citizens adequate public services, including drinking water, water, and wastewater collection, treatment and disposal at reasonable cost. Adequate public services are essential to the maintenance and general welfare of the citizens of this state and to the continued expansion of the state’s economy, job market, and industrial base.      The cost of constructing, owning, and operating capital facilities to meet the anticipated growth in the demand for those public services is becoming increasingly burdensome to political subdivisions, particularly to the smaller communities of the state.      It is desirable that innovative financing mechanisms be made available to assist the communities of this state to develop capital facilities to provide adequate public services at reasonable cost. Private sector ownership and operation of capital facilities providing public services together with industrial development revenue bond financing of those facilities, can result in cost savings to communities contracting for those public services.      It is in the best public interest of the state and its citizens that political subdivisions be authorized to provide public services by access to facilities owned and operated by private persons and financed through the issuance of industrial development revenue bonds, and to contract with private persons for the long-term provision of the services of those facilities. Amended by Chapter 245, 1985 General Session   Previous section Next section    Chapter 10d Contents