17-5-1648. Exemption from execution and sale
17-5-1648. Exemption from execution and sale. All property of the board, other than its revenues or funds received pursuant to this part, is exempt from levy and sale by virtue of an execution, and no execution or other judicial process may issue against such property. A judgment against the board constitutes a charge or lien upon […]
17-5-1649. Annual audit
17-5-1649. Annual audit. The board’s books and records must be audited at least once each fiscal year by or at the direction of the legislative auditor. The actual costs of the audit shall be paid from the board’s funds. History: En. Sec. 31, Ch. 620, L. 1983; amd. Sec. 2, Ch. 308, L. 1985; amd. Sec. 3, […]
17-5-1650. Annual report
17-5-1650. Annual report. (1) By December 31 of each year, the board shall publish a financial report for distribution to the governor, the legislature, and the public. Except as provided in subsection (2), distribution to the legislature is accomplished by providing a copy to a legislator on request. (2) Subject to 5-11-222(6), a report demonstrating the requirements […]
17-5-1651. Limitations on board’s power
17-5-1651. Limitations on board’s power. Under this part, the board may not: (1) make loans of money to any person, firm, or corporation other than an eligible government unit or purchase securities issued by any person, firm, or corporation other than an eligible government unit as provided in this part; (2) emit bills of credit, accept deposits of […]
17-5-2001. Loans to state agencies
17-5-2001. Loans to state agencies. (1) An agency responsible for the procurement and provision of vehicles, automated systems, and equipment using an enterprise fund or an internal service fund, as described in 17-2-102, is authorized to enter into contracts, loan agreements, or other forms of indebtedness payable over a term not to exceed 7 years […]
17-5-2101. Definitions
17-5-2101. Definitions. As used in this part, the following definitions apply: (1) ”Bonds” means crossover refunding bonds. (2) ”Crossover date” means the date the proceeds of crossover refunding bonds are pledged to the payment of the obligations to be refunded. (3) ”Governing body” means the board or body that exercises the legislative power of the public body. (4) ”Public body” […]
17-5-2102. Crossover refunding bonds authorized
17-5-2102. Crossover refunding bonds authorized. (1) A public body authorized to issue refunding obligations may issue bonds pursuant to this part without regard to the limitations contained in any other law relating to: (a) the establishment of an escrow account for the obligations to be refunded; (b) the giving of a notice of redemption for the obligations to […]
17-5-2201. Fee for issuance of bonds
17-5-2201. Fee for issuance of bonds. Except for issuers of general obligation bonds that are payable solely by general fund revenue and as provided in 17-5-1312(2)(a), each state bond issuer shall, upon issuance of the bonds, pay 30 cents per thousand of bonds unless another fee is specifically provided for a type of bonds. The fee […]
17-5-1642. Credit of state not pledged
17-5-1642. Credit of state not pledged. Obligations issued under the provisions of this part do not constitute a liability or obligation or a pledge of the faith and credit of the state but are payable solely from revenues or funds of the board generated or received for purposes of this part. An obligation issued under this […]
17-5-1643. Sale or exchange of securities
17-5-1643. Sale or exchange of securities. (1) Notwithstanding any law applicable to or constituting any limitation on the maximum rate of interest per year payable on bonds or notes or to annual interest cost to maturity of money borrowed or received upon issuance of bonds or notes, an eligible government unit is authorized to contract to […]