{"data":{"id":"us-ut/utah-code-17d-2-403","jurisdiction":"us-ut","citation":"Utah Code § 17D-2-403","heading":"Provisions that a lease agreement may contain.","body":"(1) A lease agreement between a local building authority and its creating local entity may:\n(a) provide that the creating local entity, as part of the lease payments for the leased property:\n(i) pay all taxes and assessments levied against or on account of the leased property or rentals from it;\n(ii) maintain insurance on the leased property for the benefit of the local building authority and the holders of the local building authority's bonds; and\n(iii) assume all responsibility for any repair, replacement, alteration, or improvement to the leased property during the term of the lease agreement; and\n(b) authorize the local entity to sublease all or specified portions of a project to:\n(i) the state;\n(ii) another local entity; or\n(iii) a private party, including a nonprofit corporation, if the local building authority or local entity:\n(A) intends to own the project throughout the useful life of the project; and\n(B) determines that the local building authority or local entity's ownership of the project furthers a legitimate public purpose.\n(2) A local entity that subleases some or all of a project under Subsection (1)(b) continues to be responsible for lease payments due under the lease agreement with the local building authority.","path":["Title 17D Limited Purpose Local Government Entities - Other Entities","Chapter 17D-2 Local Building Authority Act","Part 17D-2-4 Local Building Authority Lease Agreements"],"source_url":"https://le.utah.gov/xcode/Title17D/Chapter2/17D-2-S403.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:33Z","sha256":"0f3daf56a47f708112e4ba535be0bc248f5660bafadec11f7de8400fddb49648","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-17d-2-402","next":"us-ut/utah-code-17d-2-404"},"notice":"GroundRules: Original legal text. Not legal advice."}