Section 703 – Authority report.
Effective 3/22/2021 63H-1-703. Authority report. (1) (a) On or before November 1 of each year, the authority shall prepare and file a report with the county auditor of each county in which a project area of the authority is located, the State Tax Commission, the State Board of Education, and each taxing entity that levies […]
Section 704 – Audit requirements.
63H-1-704. Audit requirements. The authority shall comply with the audit requirements of Title 51, Chapter 2a, Accounting Reports from Political Subdivisions, Interlocal Organizations, and Other Local Entities Act. Enacted by Chapter 23, 2007 General Session
Section 705 – Audit report.
Effective 3/30/2015 63H-1-705. Audit report. (1) The authority shall, within 180 days after the end of the authority’s fiscal year, file a copy of the audit report with the county auditor, the State Tax Commission, the State Board of Education, and each taxing entity that levies a tax on property from which the authority collects […]
Section 706 – Authority chief financial officer is a public treasurer — Certain authority funds are public funds.
Effective 3/30/2015 63H-1-706. Authority chief financial officer is a public treasurer — Certain authority funds are public funds. (1) The authority’s chief financial officer: (a) is a public treasurer, as defined in Section 51-7-3; and (b) shall invest the authority funds specified in Subsection (2) as provided in that subsection. (2) Notwithstanding Subsection 63E-2-110(2)(a), property […]
Section 801 – Dissolution of authority — Restrictions — Filing copy of ordinance — Authority records — Dissolution expenses.
Effective 7/1/2021 63H-1-801. Dissolution of authority — Restrictions — Filing copy of ordinance — Authority records — Dissolution expenses. (1) The authority may not be dissolved unless the authority has no outstanding bonded indebtedness, other unpaid loans, indebtedness, or advances, and no legally binding contractual obligations with persons or entities other than the state. (2) […]
Section 604 – Those executing bonds not personally liable — Limitation of obligations under bonds — Negotiability.
63H-1-604. Those executing bonds not personally liable — Limitation of obligations under bonds — Negotiability. (1) A member of the authority board or other person executing an authority bond is not liable personally on the bond. (2) (a) A bond issued by the authority is not a general obligation or liability of the state or […]
Section 605 – Obligee rights — Board may confer other rights.
63H-1-605. Obligee rights — Board may confer other rights. (1) In addition to all other rights that are conferred on an obligee of a bond issued by the authority under this part and subject to contractual restrictions binding on the obligee, an obligee may: (a) by mandamus, suit, action, or other proceeding, compel an authority […]
Section 606 – Bonds exempt from taxes — Authority may purchase its own bonds.
63H-1-606. Bonds exempt from taxes — Authority may purchase its own bonds. (1) A bond issued by the authority under this part is issued for an essential public and governmental purpose and is, together with interest on the bond and income from it, exempt from all state taxes except the corporate franchise tax. (2) The […]
Section 701 – Annual authority budget — Fiscal year — Public hearing required — Auditor forms — Requirement to file form.
Effective 5/4/2022 63H-1-701. Annual authority budget — Fiscal year — Public hearing required — Auditor forms — Requirement to file form. (1) The authority shall prepare and its board adopt an annual budget of revenues and expenditures for the authority for each fiscal year. (2) Each annual authority budget shall be adopted before June 30. […]
Section 702 – Amending the authority annual budget.
63H-1-702. Amending the authority annual budget. (1) The authority board may by resolution amend an annual authority budget. (2) An amendment of the annual authority budget that would increase the total expenditures may be made only after public hearing by notice published as required for initial adoption of the annual budget. (3) The authority may […]