(1) The State Board of Regents, on behalf of the College of Eastern Utah, may issue, sell, and deliver revenue bonds or other evidences of indebtedness of the College of Eastern Utah to borrow money on the credit of the income and revenues of the College of Eastern Utah, other than appropriations of the Legislature, to finance the partial cost of constructing, furnishing, and equipping a student center.
(2) The bonds or other evidences of indebtedness authorized by this section may not exceed $3,300,000 and shall be issued in accordance with Title 53B, Chapter 21, Revenue Bonds, under terms and conditions and in amounts that the board, by resolution, determines are reasonable and necessary.
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