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Utah Code Title 72. Transportation Code § 72-2-201. Definitions

Current as of January 01, 2025 | Updated by Findlaw Staff

As used in this part:

(1) “Fund” means the State Infrastructure Bank Fund created under Section 72-2-202.

(2) “Infrastructure assistance” means any use of fund money, except an infrastructure loan, to provide financial assistance for transportation projects or publicly owned infrastructure projects, including:

(a) capital reserves and other security for bond or debt instrument financing; or

(b) any letters of credit, lines of credit, bond insurance, or loan guarantees obtained by a public entity to finance transportation projects.

(3) “Infrastructure loan” means a loan of fund money to finance a transportation project or publicly owned infrastructure project.

(4) “Public entity” means a state agency, county, municipality, special district, special service district, an intergovernmental entity organized under state law, or the military installation development authority created in Section 63H-1-201.

(5) “Publicly owned infrastructure project” means a project to improve sewer or water infrastructure that is owned by a public entity.

(6) “Transportation project”:

(a) means a project:

(i) to improve a state or local highway;

(ii) to improve a public transportation facility or nonmotorized transportation facility;

(iii) to construct or improve parking facilities;

(iv) that is subject to a transportation reinvestment zone agreement pursuant to Section 11-13-227 if the state is party to the agreement; or

(v) that is part of a housing and transit reinvestment zone created pursuant to Title 63N, Chapter 3, Part 6, Housing and Transit Reinvestment Zone Act;

(b) includes the costs of acquisition, construction, reconstruction, rehabilitation, equipping, and fixturing; and

(c) may only include a project if the project is part of:

(i) the statewide long range plan;

(ii) a regional transportation plan of the area metropolitan planning organization if a metropolitan planning organization exists for the area; or

(iii) a local government general plan or economic development initiative.

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Cite this article: FindLaw.com - Utah Code Title 72. Transportation Code § 72-2-201. Definitions - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-72-transportation-code/ut-code-sect-72-2-201/

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