Section 311 – Bond proceeds — Deposits — Investment — Disposition of investment income and unexpended proceeds.
63B-11-311. Bond proceeds — Deposits — Investment — Disposition of investment income and unexpended proceeds. (1) (a) Proceeds from the sale of bonds issued under this chapter shall be deposited within one or more accounts as determined by resolution of the commission. (b) The state treasurer shall administer and maintain these accounts unless otherwise provided […]
Section 302 – Maximum amount — Projects authorized.
63B-11-302. Maximum amount — Projects authorized. (1) The total amount of bonds issued under this part may not exceed $159,000,000. (2) (a) Proceeds from the issuance of bonds shall be provided to the Department of Transportation to provide funds to pay all or part of the costs of state highway construction or reconstruction projects. (b) […]
Section 303 – Bond proceeds may be used to pay costs of issuance and sale.
63B-11-303. Bond proceeds may be used to pay costs of issuance and sale. The proceeds of bonds issued under this chapter shall be used for the purposes described in Section 63B-11-302 and to pay all or part of any cost incident to the issuance and sale of the bonds including, without limitation, printing, registration and […]
Section 304 – Manner of issuance — Amounts, interest, and maturity.
63B-11-304. Manner of issuance — Amounts, interest, and maturity. (1) Bonds issued under this chapter may be authorized, sold, and issued at times and in a manner determined by the commission by resolution. (2) Bonds may be issued in one or more series, in amounts, and shall bear dates, interest rates, including a variable rate, […]
Section 305 – Terms and conditions of sale — Plan of financing — Signatures — Replacement — Registration — Federal rebate.
63B-11-305. Terms and conditions of sale — Plan of financing — Signatures — Replacement — Registration — Federal rebate. (1) In the issuance of bonds, the commission may determine by resolution: (a) the manner of sale, including public or private sale; (b) the terms and conditions of sale, including price, whether at, below, or above […]
Section 306 – Constitutional debt limitation.
63B-11-306. Constitutional debt limitation. (1) The commission may not issue bonds under this chapter in an amount that violates the limitation described in Utah Constitution Article XIV, Section 1. (2) For purposes of applying the debt limitation contained in Utah Constitution Article XIV, Section 1, the value of the taxable property in Utah is considered […]
Section 301 – State Bonding Commission authorized to issue general obligation bonds.
63B-11-301. State Bonding Commission authorized to issue general obligation bonds. The commission created under Section 63B-1-201 may issue and sell general obligation bonds of the state pledging the full faith, credit, and resources of the state for the payment of the principal of and interest on the bonds, to provide funds to the Department of […]