17D-1-501. Provisions applicable to a special service district’s issuance of bonds. Except as otherwise provided in this chapter: (1) each special service district that issues bonds shall: (a) issue them as provided in, as applicable: (i)Title 11, Chapter 14, Local Government Bonding Act; or (ii)Title 11, Chapter 42, Assessment Area Act; and (b) receive the […]
17D-1-502. General obligation bonds. (1) Except as provided in Subsection (3), if a special service district intends to issue general obligation bonds, the special service district shall first obtain the approval of special service district voters for issuance of the bonds at an election held for that purpose as provided in Title 11, Chapter 14, […]
17D-1-503. Levy to pay for general obligation bonds. (1) (a) If a special service district has issued general obligation bonds, or expects to have debt service payments due on general obligation bonds during the current year, the legislative body of the county or municipality that created the special service district may make an annual levy […]
17D-1-504. Pledge of revenues to pay for bonds. Bonds may be payable from and secured by the pledge of all or any specified part of: (1) the revenues to be derived by the special service district from providing its services and from the operation of its facilities and other properties; (2) sales and use taxes, […]
17D-1-505. Revenue bonds — Requirement to impose rates and charges to cover revenue bonds — Authority to make agreements and covenants to provide for bond repayment. (1) Subject to Subsection 17D-1-501(2), a special service district intending to issue revenue bonds may, but is not required to, submit to special service district voters for their approval […]
17D-1-506. Governing body required to fix rates to cover district expenses and bonds. The governing body shall fix the rate or rates for services or commodities provided by the special service district that will, in conjunction with the proceeds of any maintenance and operation tax and other special service district revenues: (1) pay the special […]
Effective 7/1/2021 17D-1-507. Guaranteed bonds. (1) Before a special service district may issue guaranteed bonds: (a) the special service district shall: (i) obtain a report: (A) prepared by: (I) a qualified, registered architect or engineer; or (II) a person qualified by experience appropriate to the project proposed to be funded by the proceeds from the […]
17D-1-508. Special service district obligations are not obligations of any other entity. A special service district bond, note, or other obligation or indebtedness, whether or not payable from taxes, may not be: (1) considered to be a bond, note, or other obligation or indebtedness of or to be enforceable against the state or a county, […]
17D-1-509. Ratification of previously issued bonds and previously entered contracts. All bonds issued or contracts entered into by a special service district before May 5, 2008 are ratified, validated, and confirmed and declared to be valid and legally binding obligations of the special service district in accordance with their terms. Enacted by Chapter 360, 2008 […]
