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 […]
Section 310 – General obligation bonds — Levy and collection of taxes.
Effective 5/12/2020 11-14-310. General obligation bonds — Levy and collection of taxes. (1) (a) (i) Any bonds issued under this chapter that are not payable solely from revenues other than those derived from ad valorem taxes are full general obligations of the local political subdivision. (ii) The local political subdivision’s full faith and credit is […]
Section 311 – Bond anticipation notes.
11-14-311. Bond anticipation notes. (1) (a) If the governing body considers it advisable and in the interests of the local political subdivision to anticipate the issuance of bonds to be issued under this chapter, the governing body may, pursuant to appropriate resolution, issue bond anticipation notes. (b) Each resolution authorizing the issuance of bond anticipation […]
Section 312 – Prior bonds validated — Exceptions.
11-14-312. Prior bonds validated — Exceptions. All bonds issued by any local political subdivision before May 1, 2006, and all proceedings had in the authorization and issuance of them are hereby validated, ratified, and confirmed; and all such bonds are declared to constitute legally binding obligations in accordance with their terms. Nothing in this section […]
Section 301 – Issuance of bonds by governing body — Computation of indebtedness under constitutional and statutory limitations.
Effective 1/1/2023 11-14-301. Issuance of bonds by governing body — Computation of indebtedness under constitutional and statutory limitations. (1) If the governing body has declared the bond proposition to have carried and no contest has been filed, or if a contest has been filed and favorably terminated, the governing body may proceed to issue the […]
Section 302 – Resolution — Negotiability — Registration — Maturity — Interest — Payment — Redemption — Combining issues — Sale — Financing plan.
11-14-302. Resolution — Negotiability — Registration — Maturity — Interest — Payment — Redemption — Combining issues — Sale — Financing plan. (1) (a) Bonds issued under this chapter: (i) shall: (A) be authorized by resolution of the governing body; (B) be fully negotiable for all purposes; (C) mature at such time or times not […]
Section 303 – Bonds, notes, or other obligations of political subdivisions exempt from taxation except corporate franchise tax.
11-14-303. Bonds, notes, or other obligations of political subdivisions exempt from taxation except corporate franchise tax. All bonds, notes, or other obligations issued under this chapter or under any other law authorizing the issuance of bonds, notes, or indebtedness by a local political subdivision or any other political subdivision now existing or subsequently created under […]