63B-13-301. Lease-purchase authorizations.
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Effective 5/3/2023
63B-13-301. Lease-purchase authorizations.
(1)It is the intent of the Legislature that the Mountainland Applied Technology Campus of the Utah College of Applied Technology may use existing funds to enter into a lease-purchase agreement with Alpine School District for the acquisition of the Pacific Avenue Applied Technology Facility costing up to $2,900,000.
(2)It is further the intent of the Legislature that a lease may not be executed until the Division of Facilities Construction and Management has determined that the lease-purchase option is less costly to the state than the current lease.
Amended by Chapter 369 , 2023 General Session