US Lawyer Database

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 316 – Publication of notice, resolution, or other proceeding — Contest.

11-14-316. Publication of notice, resolution, or other proceeding — Contest. (1) The governing body of any local political subdivision may provide for the publication of any resolution or other proceeding adopted under this chapter: (a) in a newspaper having general circulation in the local political subdivision; and (b) as required in Section 45-1-101. (2) When […]

Section 318 – Public hearing required.

Effective 7/1/2021 11-14-318. Public hearing required. (1) Before issuing bonds authorized under this chapter, a local political subdivision shall: (a) in accordance with Subsection (2), provide public notice of the local political subdivision’s intent to issue bonds; and (b) hold a public hearing: (i) if an election is required under this chapter: (A) no sooner […]

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 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 […]