Utah § 72-2-121.2 - Definition -- County of the Second Class State Highway Projects Fund -- Use of fund money.
Full text of Utah Utah Code § 72-2-121.2 — Definition -- County of the Second Class State Highway Projects Fund -- Use of fund money., with citation guidance and answers to common questions.
§ 72-2-121.2. Definition -- County of the Second Class State Highway Projects Fund -- Use of fund money.
Effective 5/14/2019 72-2-121.2.
Definition -- County of the Second Class State Highway Projects Fund -- Use of fund money.
(1)
As used in this section, "fund" means the County of the Second Class State Highway Projects Fund created by this section.
(2)
There is created within the Transportation Fund a special revenue fund known as the County of the Second Class State Highway Projects Fund.
(3)
The fund shall be funded by money collected from:
(a)
any voluntary contributions the department receives for new construction, major renovations, and improvements to state highways within a county of the second class; and
each county of the second class or city or town within a county of the second class for which revenues are deposited into the fund.
(5)
(a)
The fund shall earn interest.
(b)
Interest earned on fund money shall be deposited into the fund.
(6)
Subject to Subsection (9), the executive director may use fund money only:
(a)
for right-of-way acquisition, new construction, major renovations, and improvements to state highways within a county of the second class or a city or town within a county of the second class in an amount that does not exceed the amounts deposited for or allocated to that county of the second class or city or town within a county of the second class in accordance with this section;
(b)
to pay any debt service and bond issuance costs related to a purpose described in Subsection (6)(a) in an amount that does not exceed the amounts deposited for or allocated to that county of the second class or city or town within a county of the second class described in Subsection (6)(a) in accordance with this section; and
(c)
to pay the costs of the department to administer the fund in an amount not to exceed interest earned by the fund money.
(7)
If interest remains in the fund after the executive director pays the costs of the department to administer the fund, the interest shall be:
(a)
allocated to each county of the second class or city or town within a county of the second class for which revenues are deposited into the fund in proportion to the deposits made into the fund for that county of the second class or city or town within a county of the second class; and
(b)
expended for the purposes described in Subsection (6).
(8)
Revenues described in Subsection (3)(b) that are deposited into the fund are considered to be a local matching contribution for the purposes described in Section 72-2-123.
(9)
(a)
The executive director shall, in using fund money, ensure to the extent possible that the fund money deposited for or allocated to a city or town is used:
(i)
for a purpose described in Subsection (6)(a) within the city or town to which the fund money is allocated;
(ii)
to pay debt service and bond issuance costs described in Subsection (6)(b) if the debt service and bond issuance costs are:
(A)
secured by money deposited for or allocated to the city or town; and
(B)
related to a project described in Subsection (6)(a) within the city or town to which the fund money is allocated; or
Frequently Asked Questions About Utah § 72-2-121.2
What does Utah Code § 72-2-121.2 cover?
Section 72-2-121.2 ("Definition -- County of the Second Class State Highway Projects Fund -- Use of fund money.") is part of the Utah Code, the codified statutory law of Utah. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Utah § 72-2-121.2?
A common citation format is "Utah Code § 72-2-121.2" (Utah). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Utah law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Utah official source linked on this page or consult a licensed Utah attorney.
How does Utah § 72-2-121.2 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Utah can advise on how this section applies to you. Contact your state or local bar association for a referral.
