63B-11-508. Creation of sinking fund.
- (1) There is created a sinking fund, to be administered by the state treasurer, entitled the “2002 Highway General Obligation Bonds for Salt Lake County Sinking Fund.”
- (2) All money deposited in the sinking fund, from whatever source, shall be used to pay debt service on the bonds.
- (3) The proceeds of all taxes levied under this chapter are appropriated to this fund.
- (4) The state treasurer may create separate accounts within the sinking fund for each series of bonds issued.
Enacted by Chapter 266, 2002 General Session