§ 73-28-203. Development of hydroelectric generating works -- Electricity offered to public utilities or municipalities.

(1) The board may construct and own hydroelectric generating works and incidental electrical facilities in association with the project.

(2)

(a) Except for electricity needed for project operations, the board shall first offer to sell electricity derived from any hydroelectric generating works owned by it to public utilities or municipalities providing electricity to consumers in Utah.

(b) The board, in consultation with the committee and in accordance with Section 73-28-403, shall establish the prices at which the electricity is sold.

(3) In accordance with Section 51-4-1, the board shall deposit:

(a) revenues received from the sale of electricity designated for the repayment of preconstruction and construction costs and interest into the Water Resources Conservation and Development Fund;

(b) revenues received from the sale of electricity designated for project operation, maintenance, repair, and replacement costs into the Lake Powell Pipeline Project Operation and Maintenance Fund; and

(c) any additional revenues received from the sale of electricity into the Water Resources Conservation and Development Fund.

Enacted by Chapter 216, 2006 General Session