63B-1-311. Cost of acquiring or constructing facility.
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63B-1-311. Cost of acquiring or constructing facility.
The cost of acquiring or constructing any facility shall be considered to include the following:
(1)the actual cost of acquiring or improving real estate;
(2)the actual cost of enlarging, constructing, reconstructing, improving, replacing, restoring, renovating, maintaining, equipping, or furnishing all or any part of a facility, including architects' or engineers' fees; and
(3)all expenses connected with the authorization, sale, and issuance of the obligations to finance the acquisition or construction, including:
(a)fees for outside attorneys or accountants whose opinions are required to secure the issuance of those obligations;
(b)financial advisors' fees and commissions;
(c)printing costs;
(d)those amounts that the authority considers necessary to establish bond reserves and maintenance, repair, replacement, and contingency funds and accounts; and
(e)the interest on these obligations for a reasonable time before, during, and for a reasonable period of time after, completion of the acquisition or construction.
Renumbered and Amended by Chapter 86 , 2003 General Session