Title 53H, Higher Education

53H-8-404. Grants and gifts to the authority. (1) To the extent otherwise allowed, a state entity may grant money or property to the endowment. (2) A person may make a contribution, gift, grant, bequest, devise, or loans to the endowment.

53H-8-501. General provisions -- Definitions. As used in this part: (1) "Conditional gift" means a gift as defined in Subsection (4) that is subject to conditions: (a) imposed, requested, or provided by a foreign government or foreign person; and (b) that relate to: (i) what kind…

53H-8-502. Foreign bank accounts for higher education purposes. (1) As used in this section, "foreign depository institution" is as defined in Section 7-1-103. (2) In accordance with Subsection 51-7-4(1)(b)(iii), an institution may deposit funds into a foreign depository institut…

53H-8-503. Disclosure of foreign gifts to institutions -- Prohibition on restricted foreign entity funds. (1)(a) Except as provided in Subsection (1)(c), on or before July 31 of each year, an institution shall disclose to the board, by filing a disclosure report described in Subs…

53H-8-601. Definitions. As used in this part: (1) "Bonds" means the bonds authorized to be issued by the board under this part, and may consist of bonds, notes, or debt obligations evidencing an obligation to repay borrowed money and payable solely from revenues and other money o…

53H-8-602. Powers of Utah Board of Higher Education. The board has the powers necessary to carry out the purposes of this part, including the following: (1) to accept gifts, grants, loans, and other aids or amounts from a person, corporation, or governmental agency; (2) to loan m…

53H-8-603. Issuance of bonds -- Disposition of funds -- Refunding bonds -- Resolution to authorize bonds -- Contents -- Sale of bonds -- Bond debt service reserve funds -- Restoration of fund assets -- Establishment of other subfunds. (1) The board may issue the board's bonds in …

53H-8-604. Agreements with bondholders unalterable. (1) Neither limitations or alterations of the rights vested in the board to fulfill the terms of an agreement made with bondholders nor impairment of the rights and remedies of those bondholders may occur until: (a) the bonds, t…

53H-8-605. Investments in bonds of the board. The bonds of the board are securities, in which public officers and bodies of this state, municipalities and municipal subdivisions, insurance companies and associations, persons carrying on an insurance business, banks, trust compani…

53H-8-606. Payment of funds -- Payment on warrants -- Contracts with bondholders -- Security. (1) The funds of the board, except as otherwise authorized or provided in this section, are paid to the state treasurer. (2) The money in the accounts is paid out on warrants signed by t…

53H-8-607. Bonds and interest exempt from taxation except corporate franchise tax. The bonds issued under this part and the interest on the bonds are exempt from all taxation in this state, except for the corporate franchise tax.

53H-8-608. Bond approval by attorney general incontestable after 30 days -- Recital of certification. (1) The attorney general shall examine the resolutions and proceedings authorizing the issuance and confirming the sale of bonds under this part. (2) Once examined and certified …

53H-8-609. Board pledges -- Attachment of lien -- Recording unnecessary. (1) A pledge made by the board is valid and binding from the time the pledge is made. (2) The money or property pledged and subsequently received by the board is immediately subject to the lien of the pledge…

53H-8-610. Default by board -- Appointment of a trustee -- Powers of the trustee and bondholders. (1) If the board defaults in the payment of principal of or interest on an issue of bonds after the issue becomes due, whether at maturity or upon call for redemption, and the defaul…

53H-8-611. Loans or purchase of obligations -- Rules -- Options -- Repayment of federally insured loans. (1) The board may purchase obligations from lenders or make loans to eligible borrowers, out of money available to the board for loans. The board shall promulgate rules for de…

53H-8-612. Separation of duties, responsibilities, funds, liabilities, and expenses -- Immunity from personal liability. (1) The duties, responsibilities, funds, liabilities, and expenses of the board under this part shall be maintained wholly separate and apart from the board's …

53H-8-613. Mandamus in Supreme Court -- Precedence. (1) If an official required by the proceeding authorizing bonds under this part to sign the bonds refuses to affix the official's signature to the bonds, or if the attorney general refuses to certify the bonds as legal obligatio…

53H-9-101. Definitions. Reserved.

53H-9-201. General provisions -- Definitions. Reserved.

53H-9-202. Property of institutions to vest in state board. The Utah Board of Higher Education is the successor to, and vested with, all the powers and authority relating to all properties, real and personal, tangible and intangible, and to the control and management of the prope…

53H-9-203. Vesting of rights, claims, and causes of action in higher education institutions -- Right to sue in corporate name. (1) All rights, claims, and causes of action to or for any property vested in an institution of higher education prior to the effective date of this chap…

53H-9-204. Institutional right to receive and convert grants, gifts, devises, or bequests. (1) Each institution may convert property received by gift, grant, devise, or bequest, and not suitable for its use, into other property or into money. All property received or converted un…

53H-9-205. Property exempt from taxes and assessments. The property of the institutions governed by the board is exempt from all taxes and assessments.

53H-9-206. Development of university property. (1) As used in this section: (a) "Board of trustees" means the board of trustees of an eligible university. (b) "Conflict" means a situation in which a board of trustees member or a family member of a board of trustees member will or…

53H-9-301. General provisions -- Definitions. Reserved.

53H-9-302. Financing of projects or buildings -- Issuance of bonds -- Sale price determined by board -- Payment of bonds -- Bonds exempt from income taxation. (1) To pay all or part of the cost of the acquisition, purchase, construction, improvement, remodeling, addition to, exte…

53H-9-303. Bonds do not create state indebtedness -- Special obligations -- Discharge of bonded indebtedness -- Agreements and covenants by the board regarding bonds -- Enforcement by court action. (1)(a) The bonds issued under this part are not an indebtedness of the state, of t…

53H-9-304. Agreements with federal government for funds. The board may enter into an agreement with the federal government in order to obtain funds for the following purposes: (1) to supplement bond proceeds used to pay for the projects referred to in Section 53H-9-302; and (2) t…

53H-9-305. Deposit of bond proceeds -- Division of Facilities Construction and Management responsibilities and approval. (1) The board treasurer or other fiscal officer, with the approval of the state treasurer, deposits the proceeds from the sale of bonds under this part into a …

53H-9-306. Disposition and use of income from operation of buildings -- Payment of principal and interest on bonds. (1) Except for the revenues paid directly to a trustee under Subsection 53H-9-303(3)(f), all income and revenues from the operation of the buildings under this part…

53H-9-307. Examination and certification of bonds by attorney general -- Recital of certification -- Incontestability of bonds. (1) The resolutions and proceedings authorizing the issuance and confirming sale of bonds under this part are submitted to the attorney general for exam…

53H-9-308. Investment in bonds by private and public entities -- Approval as collateral security. (1) Any bank, savings and loan association, trust, or insurance company organized under the laws of this state or federal law may invest the bank's capital and surplus in bonds issue…

53H-9-309. Financing project by contract or lease agreement instead of by bond issue -- Authority of board -- Term of lease -- Terms of agreement -- Board covenants. (1) Whenever the board, by resolution, finds and declares it preferable to acquire a project under this part by pu…

53H-9-310. Student building fees. (1) The board issuing bonds under this part may impose and collect student building fees from all students in attendance at the institution in behalf of which the bonds are issued. (2) The board may also pledge the fees in the same manner provide…

53H-9-311. Refunding bonds -- Issuance -- Proceeds -- Limitations. (1) Bonds may be issued under this part for the purpose of refunding any bonds previously issued under authority of this part, if: (a) the bonds to be refunded are due or callable, redeemable, or repurchasable by …

53H-9-312. Authorized loans for acquisition, construction, furnishing, and equipping of projects -- Evidence of indebtedness -- Provisions -- Agreements with lending institutions -- Satisfaction and discharge -- Exemption from taxation. (1) For the purpose of paying all or part o…

53H-9-313. Financing projects and buildings -- Security instruments -- Terms. (1) In connection with the financing of any project or building under this part, the board, on behalf of an institution of higher education, may grant a purchase money mortgage, trust deed, or other sec…

53H-9-314. Limitation on issuance of bonds. No bonds may be authorized or issued by the board or the board of any institution under this part without the prior approval of the Legislature.

53H-9-315. Revenue bond authorizations. (1) The Utah Board of Higher Education, formerly the Board of Regents, on behalf of the institutions listed below, may issue, sell, and deliver revenue bonds or other evidences of indebtedness to borrow money on the credit of the income and…

53H-9-401. General provisions -- Definitions. Reserved.

53H-9-402. Buildings and facilities -- Board approval of construction and purchases -- Rules. (1) The board shall approve all new construction, repair, or purchase of educational and general buildings and facilities financed from any source at all institutions subject to the juri…

53H-9-403. Powers of state board -- Capital facilities projects -- Exceptions. (1) As used in this section, "capital facilities projects and buildings" includes any one or more institutional projects and buildings. (2) The board, on behalf of the institutions of higher education,…

53H-9-404. Notice to local government when constructing student housing. (1) Each institution that intends to construct student housing on property owned by the institution shall provide written notice of the intended construction, as provided in Subsection (2), before any funds …

53H-9-405. Higher education student housing feasibility study. An employee of the governor's office who is an expert or advisor on housing strategy shall, in consultation with the commissioner of higher education: (1) complete a feasibility study that: (a) examines the impact of …

53H-9-501. General provisions -- Definitions. As used in this part: (1) "Capital development" means the same as capital development project, as defined in Section 63A-5b-401. (2) "Consumer Price Index" means the Consumer Price Index for All Urban Consumers as published by the Bur…

53H-9-502. Higher Education Capital Projects Fund -- Use of money in fund -- Appropriations to fund -- Administration of fund. (1) There is created a capital projects fund known as the Higher Education Capital Projects Fund. (2) Subject to appropriation, money in the fund shall b…