Section 506 – Bonds exempt from taxes — Lake authority may purchase its own bonds.
Effective 5/4/2022 11-65-506. Bonds exempt from taxes — Lake authority may purchase its own bonds. (1) A bond issued by the lake authority under this part is issued for an essential public and governmental purpose and is, together with interest on and income from the bond, exempt from all state taxes except the corporate franchise […]
Section 601 – Annual lake authority budget — Fiscal year — Public hearing required — Auditor forms — Requirement to file annual budget.
Effective 5/4/2022 11-65-601. Annual lake authority budget — Fiscal year — Public hearing required — Auditor forms — Requirement to file annual budget. (1) The board shall prepare and adopt for the lake authority an annual budget of revenues and expenditures for each fiscal year. (2) An annual lake authority budget shall be adopted before […]
Section 602 – Amending the lake authority annual budget.
Effective 5/4/2022 11-65-602. Amending the lake authority annual budget. (1) The board may by resolution amend an annual lake authority budget. (2) An amendment of the annual lake authority budget that would increase the total expenditures may be made only after a public hearing following notice published as required for initial adoption of the annual […]
Section 404 – Amendment to a project area plan.
Effective 5/4/2022 11-65-404. Amendment to a project area plan. (1) The lake authority may amend a project area plan by following the same procedure under this part as applies to the adoption of a project area plan. (2) The provisions of this part apply to the lake authority’s adoption of an amendment to a project […]
Section 405 – Project area budget.
Effective 5/4/2022 11-65-405. Project area budget. (1) Before the lake authority may use authority funds to implement the management plan, the authority board shall prepare and adopt a project area budget. (2) The lake authority board may amend an adopted project area budget as and when the lake authority board considers an amendment appropriate. (3) […]
Section 501 – Resolution authorizing issuance of lake authority bonds — Characteristics of bonds — Time limit for contesting bonds.
Effective 5/4/2022 11-65-501. Resolution authorizing issuance of lake authority bonds — Characteristics of bonds — Time limit for contesting bonds. (1) The lake authority may not issue bonds under this part unless the board first: (a) adopts a parameters resolution for the bonds that sets forth: (i) the maximum: (A) amount of bonds; (B) term; […]
Section 502 – Sources from which bonds may be made payable — Lake authority powers regarding bonds.
Effective 5/4/2022 11-65-502. Sources from which bonds may be made payable — Lake authority powers regarding bonds. (1) The principal and interest on bonds issued by the lake authority may be made payable from: (a) the income and revenues of the projects financed with the proceeds of the bonds; (b) the income and revenues of […]
Section 206 – Applicability of other law — Cooperation of state and local governments — Authority of other agencies not affected — Attorney general to provide legal services.
Effective 5/4/2022 11-65-206. Applicability of other law — Cooperation of state and local governments — Authority of other agencies not affected — Attorney general to provide legal services. (1) The lake authority is subject to and governed by Sections 63E-2-106, 63E-2-107, 63E-2-108, 63E-2-109, 63E-2-110, and 63E-2-111, but is not otherwise subject to or governed by […]
Section 301 – Utah Lake Authority board — Delegation of power.
Effective 5/4/2022 11-65-301. Utah Lake Authority board — Delegation of power. (1) The lake authority shall be governed by a board which shall manage and conduct the business and affairs of the lake authority and shall determine all questions of lake authority policy. (2) All powers of the lake authority are exercised through the board […]
Section 306 – Development of standards and criteria to measure progress toward achieving lake authority policies and objectives — Annual report.
Effective 5/4/2022 11-65-306. Development of standards and criteria to measure progress toward achieving lake authority policies and objectives — Annual report. (1) The board shall develop standards and criteria by which to measure: (a) the condition of Utah Lake as of 2022; and (b) the extent to which efforts of the lake authority improve the […]