(1) There is created an independent state agency known as the "Utah Energy Infrastructure Authority."
(2) Subject to Section 63H-2-203, the authority may: (a) sue and be sued; (b) enter into contracts generally; (c) (i) accept financial or other assistance from a public or private source for the authority's activities, powers, and duties; and (ii) expend money received under Subsection (2)(c)(i) for the purpose of building or enhancing the state's energy delivery infrastructure; (d) (i) for the purpose of studying a qualifying transmission project, borrow money or accept financial or other assistance from: (A) a public entity; or (B) any other source; and (ii) comply with a condition of a loan or assistance described in Subsection (2)(d)(i); (e) in accordance with Part 4, Bonding, issue one or more bonds to finance a qualifying energy delivery project; (f) hire one or more employees, including: (i) a contract employee; and (ii) legal counsel; (g) enter into a partnership agreement with a business entity related to a qualifying energy delivery project; (h) enter into an agreement with a public entity related to a qualifying energy delivery project; (i) if none of the authority's net earnings inure to the benefit of a private entity, use money available to the authority: (i) for administrative, overhead, legal, or other operating expenses of the authority; and (ii) to pay the principal and interest on an authority bond; (j) create one or more subsidiaries to engage in an activity that the authority may engage in under this chapter; (k) transact other business related to a qualifying energy delivery project; (l) acquire, own, lease, or sell real property or personal property related to a qualifying energy delivery project; or (m) exercise a power provided for in this chapter.
(a) sue and be sued;
(b) enter into contracts generally;
(c) (i) accept financial or other assistance from a public or private source for the authority's activities, powers, and duties; and (ii) expend money received under Subsection (2)(c)(i) for the purpose of building or enhancing the state's energy delivery infrastructure;
(i) accept financial or other assistance from a public or private source for the authority's activities, powers, and duties; and
(ii) expend money received under Subsection (2)(c)(i) for the purpose of building or enhancing the state's energy delivery infrastructure;
(d) (i) for the purpose of studying a qualifying transmission project, borrow money or accept financial or other assistance from: (A) a public entity; or (B) any other source; and (ii) comply with a condition of a loan or assistance described in Subsection (2)(d)(i);
(i) for the purpose of studying a qualifying transmission project, borrow money or accept financial or other assistance from: (A) a public entity; or (B) any other source; and
(A) a public entity; or
(B) any other source; and
(ii) comply with a condition of a loan or assistance described in Subsection (2)(d)(i);
(e) in accordance with Part 4, Bonding, issue one or more bonds to finance a qualifying energy delivery project;
(f) hire one or more employees, including: (i) a contract employee; and (ii) legal counsel;
(i) a contract employee; and
(ii) legal counsel;
(g) enter into a partnership agreement with a business entity related to a qualifying energy delivery project;
(h) enter into an agreement with a public entity related to a qualifying energy delivery project;
(i) if none of the authority's net earnings inure to the benefit of a private entity, use money available to the authority: (i) for administrative, overhead, legal, or other operating expenses of the authority; and (ii) to pay the principal and interest on an authority bond;
(i) for administrative, overhead, legal, or other operating expenses of the authority; and
(ii) to pay the principal and interest on an authority bond;
(j) create one or more subsidiaries to engage in an activity that the authority may engage in under this chapter;
(k) transact other business related to a qualifying energy delivery project;
(l) acquire, own, lease, or sell real property or personal property related to a qualifying energy delivery project; or
(m) exercise a power provided for in this chapter.
(3) Unless expressly provided in this chapter, the state is not liable for an obligation, expense, debt, or liability of the authority.
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