Section 213 – Certification of satisfaction of conditions precedent — Conclusiveness.
63B-2-213. Certification of satisfaction of conditions precedent — Conclusiveness. (1) The commission may not issue any bond under this chapter until it finds and certifies that all conditions precedent to issuance of the bonds have been satisfied. (2) A recital on any bond of this finding and certification conclusively establishes the completion and satisfaction of […]
Section 214 – Tax exemption.
63B-2-214. Tax exemption. The bonds issued under this chapter, any interest paid on the bonds, and any income from the bonds are not taxable in this state for any purpose, except for the corporate franchise tax. Enacted by Chapter 304, 1993 General Session
Section 215 – Legal investment status.
63B-2-215. Legal investment status. Bonds issued under this chapter are legal investments for all state trust funds, insurance companies, banks, trust companies, and the State School Fund and may be used as collateral to secure legal obligations. Enacted by Chapter 304, 1993 General Session
Section 216 – Publication of resolution or notice — Limitation on actions to contest legality.
63B-2-216. Publication of resolution or notice — Limitation on actions to contest legality. (1) The commission may: (a) publish any resolution it adopts under this chapter: (i) once in a newspaper having general circulation in Utah; and (ii) as required in Section 45-1-101; or (b) in lieu of publishing the entire resolution, publish a notice […]
Section 217 – Report to Legislature.
63B-2-217. Report to Legislature. The governor shall report the commission’s proceedings to each annual general session of the Legislature in his budget for as long as bonds issued under this chapter remain outstanding. Enacted by Chapter 304, 1993 General Session
Section 210 – Investment of sinking fund money.
63B-2-210. Investment of sinking fund money. (1) The state treasurer may, by following the procedures and requirements of Title 51, Chapter 7, State Money Management Act, invest any money contained in the sinking fund until it is needed for the purposes for which the fund is created. (2) Unless otherwise provided in the resolution of […]
Section 211 – Bond proceeds — Deposits — Investment — Disposition of investment income and unexpended proceeds.
63B-2-211. 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 212 – Refunding of bonds.
63B-2-212. Refunding of bonds. (1) The commission may provide for the refunding of any of the bonds in accordance with Title 11, Chapter 27, Utah Refunding Bond Act. (2) For purposes of Title 11, Chapter 27, Utah Refunding Bond Act, the state of Utah is considered the public body and the commission its governing body. […]
Section 205 – Terms and conditions of sale — Plan of financing — Signatures — Replacement — Registration — Federal rebate.
63B-2-205. 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 206 – Constitutional debt limitation.
63B-2-206. Constitutional debt limitation. (1) The commission may not issue bonds under this chapter in an amount that violates the limitation described in Article XIV, Sec. 1, Utah Constitution. (2) For purposes of applying the debt limitation contained in Article XIV, Sec. 1, Utah Constitution, the value of the taxable property in Utah is considered […]