Utah Code 73-28-104. Powers of the board

(1)

The board may contract with:

Terms Used In Utah Code 73-28-104

Board: means the Board of Water Resources. See Utah Code 73-28-103
Committee: means the Project Management Committee created in Section 73-28-105. See Utah Code 73-28-103
Construction costs: means all costs related to the construction of the project, including the environmental mitigation costs. See Utah Code 73-28-103
Contract: A legal written agreement that becomes binding when signed.
Developed water: means surface water developed by the project. See Utah Code 73-28-103
District: means :

(a)	the Central Iron County Water Conservancy District;

(b)	the Kane County Water Conservancy District;

(c)	the Washington County Water Conservancy District; or

(d)

any combination of those districts listed in Subsections (5)(a) through (c). See Utah Code 73-28-103

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}

Project: means the Lake Powell Pipeline project and associated facilities, including:

(i)	facilities associated with environmental mitigation;

(ii)	hydroelectric generating works and incidental electrical facilities;

(iii)

pipelines; and

(iv)	pumping stations. See Utah Code 73-28-103
(a)	a district for the sale of developed water;

(b)	a qualified entity for the development or construction of the project; or

(c)	a district or other qualified entity for the operation, maintenance, repair, or replacement of the project.

(2)

By following the procedures and requirements of Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the board may make rules to:

(a)

establish prices, in consultation with the committee and in accordance with Section 73-28-403, for:

(i)	developed water sold to the districts; and

(ii)	electricity made available by the project;

(b)	establish procedures for reviewing offers to contract for the sale of developed water and electricity;

(c)	establish the interest rate for repayment of preconstruction and construction costs;

(d)	establish a reasonable time period for the districts to offer to purchase water; and

(e)	administer and operate the project.

(3)	The board may exercise eminent domain, as provided in 5, to construct the project.

Amended by Chapter 3, 2008 General Session
Amended by Chapter 382, 2008 General Session

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