11-58-206. Port authority funds.
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Effective 5/1/2024
11-58-206. Port authority funds.
(1)Subject to Subsection (2), the authority may use authority funds for any purpose authorized under this chapter, including:
(a)promoting, facilitating, and advancing inland port uses;
(b)owning and operating an intermodal facility;
(c)the remediation of contaminated land within a project area; and
(d)paying any consulting fees and staff salaries and other administrative, overhead, legal, and operating expenses of the authority.
(a)As used in this Subsection (2):
(i)"Affected project area" means the project area where public infrastructure and improvements are constructed or are to be constructed.
(ii)"Local legislative body" means:
(A)the legislative body of the county in which the affected project area is located; or
(B)the legislative body of the municipality in which the affected project area is located.
(b)The authority may not use authority funds to pay developer costs, as defined by the local legislative body, associated with the development and construction of public infrastructure and improvements in an affected project area.
Amended by Chapter 535 , 2024 General Session