63B-13-301 - Lease-purchase authorizations.
63B-13-301. Lease-purchase authorizations.
(1) It is the intent of the Legislature that the Mountainland Applied Technology Campusof the Utah College of Applied Technology may use existing funds to enter into a lease-purchaseagreement with Alpine School District for the acquisition of the Pacific Avenue AppliedTechnology Facility costing up to $2,900,000.
(2) It is further the intent of the Legislature that a lease may not be executed until theState Building Board has determined that the lease-purchase option is less costly to the state thanthe current lease.
Enacted by Chapter 364, 2004 General Session