Section 313 – Issuance of negotiable notes or bonds authorized — Limitation on amount of tax anticipation notes or bonds — Procedure.
11-14-313. Issuance of negotiable notes or bonds authorized — Limitation on amount of tax anticipation notes or bonds — Procedure. (1) (a) For the purpose of meeting the current expenses of the local political subdivision and for any other purpose for which funds of the local political subdivision may be expended, a local political subdivision […]
Section 314 – Tax anticipation obligations validated.
11-14-314. Tax anticipation obligations validated. All obligations issued in anticipation of the collection of taxes and other revenues by any local political subdivision before May 1, 2006, and all proceedings had in the authorization and issuance of them are validated, ratified, and confirmed; and all these obligations are declared to constitute legally binding obligations in […]
Section 315 – Nature and validity of bonds issued — Applicability of other statutory provisions — Budget provision required — Applicable procedures for issuance.
Effective 5/5/2021 11-14-315. Nature and validity of bonds issued — Applicability of other statutory provisions — Budget provision required — Applicable procedures for issuance. Bonds issued under this chapter shall have all the qualities of negotiable paper, shall be incontestable in the hands of bona fide purchasers or holders for value and are not invalid […]
Section 304 – Facsimile signatures and facsimile seal, use permitted — Validity of signed bonds.
11-14-304. Facsimile signatures and facsimile seal, use permitted — Validity of signed bonds. (1) If the use of a facsimile signature is authorized by the body empowered by law to authorize the issuance of the bonds or other obligations of any agency, instrumentality, or institution of this state or of any municipal corporation, political subdivision, […]
Section 304.5 – Recital in bonds — Incontestability.
11-14-304.5. Recital in bonds — Incontestability. (1) In the resolution authorizing bonds to be issued as provided in this chapter or other applicable law, a local political subdivision may require that the bonds recite that they are issued under authority of this chapter or other applicable law. (2) (a) A bond recital as provided in […]
Section 305 – Registration, denominations, and exchange of obligations.
11-14-305. Registration, denominations, and exchange of obligations. (1) As used in this section, “obligations” means bonds, bond anticipation notes, and tax anticipation notes. (2) Unless otherwise provided by the local political subdivision, Title 15, Chapter 7, Registered Public Obligations Act, governs and applies to all obligations issued in registered form. If Title 15, Chapter 7, […]
Section 306 – Additional pledge for general obligation bonds — Revenue bonds — Resolution.
11-14-306. Additional pledge for general obligation bonds — Revenue bonds — Resolution. (1) To the extent constitutionally permissible, local political subdivisions may pledge as an additional source of payment for their general obligation bonds all or any part of revenues, fees, and charges attributable to the operation or availability of facilities or may issue bonds […]
Section 307 – Revenue bonds payable out of excise tax revenues.
11-14-307. Revenue bonds payable out of excise tax revenues. (1) To the extent constitutionally permissible, a city, town, or county may: (a) issue bonds payable solely from a special fund into which are to be deposited: (i) excise taxes levied and collected by the city, town, or county; (ii) excise taxes levied by the state […]
Section 308 – Special service district bonds secured by federal mineral lease payments — Use of bond proceeds — Bond resolution — Nonimpairment of appropriation formula — Issuance of bonds.
11-14-308. Special service district bonds secured by federal mineral lease payments — Use of bond proceeds — Bond resolution — Nonimpairment of appropriation formula — Issuance of bonds. (1) Special service districts may: (a) issue bonds payable, in whole or in part, from federal mineral lease payments which are to be deposited into the Mineral […]
Section 309 – Refunding bonds — Limitation on redemption of bonds.
11-14-309. Refunding bonds — Limitation on redemption of bonds. (1) Any bond issued under this chapter may be refunded as provided in the Utah Refunding Bond Act. (2) Nothing contained in this chapter nor in any other law of this state may be construed to permit any local political subdivision to call outstanding bonds for […]