53F-9-601. Small School District Capital Projects Fund.
169 words·~1 min read·
/ut/title-53f/chapter-9/53f-9-601A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Effective 3/24/2022
53F-9-601. Small School District Capital Projects Fund.
(1)As used in this section:
(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.
(a)There is created a capital projects fund known as the Small School District Capital Projects Fund.
(b)Subject to legislative appropriations, and except as provided in Subsection
(4), money in the fund shall be used for a capital development project in accordance with this section and Title 53F, Chapter 10, State Funding -- Capital Projects .
(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.
(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