Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Capital Bonding topic
No spam. Unsubscribe anytime.
Senate passes substitute House Bill 2 authorizing capital-facilities bonds and revenue projects
Summary
The Senate considered and passed a substitute to House Bill 2, a capital‑facilities bonding and debt‑financing bill, authorizing a mix of general funds, school funds and general obligation bonds and several revenue-backed projects (including university housing tied to the 2002 Olympics); the substitute passed on the floor and will be returned to the House.
Senate members reviewed Substitute House Bill 2, the 1998 capital‑facilities bonding and debt‑financing authorization, which lists multiple projects across higher education, corrections, and state facilities.
The sponsor distributed a summary sheet and described funding sources: $46 million from the general fund; $11 million ongoing from the Uniform School Fund; $10.5 million one-time school fund cash; and $48.5 million in general‑obligation bonding. The bill also authorizes revenue bonds for projects expected to be repaid from project revenues, including university housing at the University of Utah that will be used for athlete housing during the 2002 Winter Olympics (with $28 million paid by the Olympic Committee, as reported on the floor).
Two subcommittee‑recommended projects (a corrections administration building and a carriage house) and part of a Southern Utah University land purchase were not included in the substitute. The floor summary included a list of projects in the bill, descriptions of which projects are for design this year and which will be funded next year, and intent language prioritizing Southern Utah University on future action.
Under suspension of the rules the Senate considered and passed the substitute; the clerk announced the substitute had 21 aye votes, 1 nay and 7 absent. The substitute will be signed by the president in open session and returned to the House for final signature and enrolling.
Floor participants asked for clarifications about specific project lists and funding sources; the sponsor said additional detail sheets were available and invited questions but there was no extended debate recorded in the provided segments.
