11-17-1.5. Purpose of chapter. (1) (a) The purposes of this chapter are to stimulate the economic growth of the state, to promote employment and achieve greater industrial development in the state, to maintain or enlarge domestic or foreign markets for Utah industrial products, to authorize municipalities and counties in the state to facilitate capital formation, […]
11-17-10. Tax exemption for property and bonds — Exception. All property acquired or held by the county or municipality under this chapter is declared to be public property used for essential public and governmental purposes; and all such property and bonds issued under this chapter and the income from them are exempt from all taxes […]
11-17-11. Construction of act. Neither this act nor anything contained in it shall be construed as a restriction or limitation upon any powers which a county or municipality might otherwise have under any laws of this state. Enacted by Chapter 29, 1967 General Session
11-17-12. Bonds — Eligibility as investments and for use as security. Bonds issued under this act are hereby made securities in which all public officers and public bodies of the state and its political subdivisions, all insurance companies, credit unions, building and loan associations, trust companies, banking associations, investment companies, executors, administrators, trustees and other […]
11-17-13. Pledge and undertaking for the state. The state of Utah does hereby pledge to and agree with the holders of any bonds issued under this act and with those parties who may enter into contracts with any county or municipality under this act, that the state will not alter, impair or limit the rights […]
Effective 5/13/2014 11-17-14. Uniform Commercial Code not applicable. Bonds issued under this act are exempt from the provisions of Title 70A, Uniform Commercial Code. Amended by Chapter 189, 2014 General Session
11-17-15. Public bidding laws and rules not applicable. The provisions of the various laws of the state of Utah and the rules or ordinances of the county or municipality which would otherwise require public bidding in respect to the acquisition, financing, management, funding, construction, reconstruction, improvement, maintenance, equipping, and furnishing of a project shall have […]
11-17-16. Publication of resolutions and notice of bonds to be issued. (1) (a) The governing body may provide for the publication of any resolution or other proceeding adopted by it under this chapter, including all resolutions providing for the sale or lease of any land by the municipality, county, or state university in connection with […]
11-17-16.1. Agreements authorized by resolution. (1) The governing body of any municipality, county, special service district, or state university entering into an agreement pursuant to Section 11-17-3 may provide for the publication of any resolution adopted by it authorizing the execution of the agreement, in a newspaper qualified to carry notices having general circulation therein. […]
Effective 7/1/2020 11-17-17. State universities granted same powers as municipalities and counties — Authority to issue bonds. (1) The Utah Board of Higher Education may, on behalf of the University of Utah and Utah State University exercise all powers granted to municipalities and counties pursuant to this chapter, except as provided in Subsection (2). (2) […]
Effective 7/1/2021 11-17-18. Powers of Governor’s Office of Economic Opportunity. For purposes of this chapter and for the purposes of the Utah Interlocal Cooperation Act, the Governor’s Office of Economic Opportunity has all the powers set out in this chapter of, and is subject to the same limitations as, a municipality as though the office […]
Effective 3/22/2018 11-17-20. Power of the Utah Charter School Finance Authority. (1) The Utah Charter School Finance Authority may exercise the powers granted to municipalities and counties by this chapter, subject to the same limitations as that imposed on a municipality or county under the chapter, except as provided by Title 53G, Chapter 5, Part […]
11-17-3. Powers of municipalities, counties, and state universities. (1) A municipality, county, and state university may: (a) finance or acquire, whether by construction, purchase, devise, gift, exchange, or lease, or any one or more of those methods, and construct, reconstruct, improve, maintain, equip, and furnish or fund one or more projects, within this state, and […]
11-17-3.5. Powers of Military Installation Development Authority. The military installation development authority, created in Section 63H-1-201, is subject to and governed by the provisions of this chapter to the same extent as if the military installation development authority were a municipality. Enacted by Chapter 92, 2009 General Session
11-17-4. Bonds — Limitations — Form and provisions — Sale — Negotiability. (1) All bonds issued by a municipality or county under this chapter shall be limited obligations of the municipality or county. Bonds and interest coupons issued under this chapter may not constitute nor give rise to a general obligation or liability of the […]
11-17-4.6. Bonds — Terms specified by governing body. The proceedings of the governing body under which the bonds are authorized to be issued may: (1) if the bonds bear interest at a variable rate or rates, specify the methods, formulas, or indices by which the interest rate or rates on the bonds may be determined; […]
11-17-5. Security for bonds — Provisions in security agreements — Limitations — Liens. (1) The principal of and interest on any bonds issued under this chapter: (a) shall be secured by a pledge and assignment of the revenues out of which the bonds are made payable or by such other sinking fund or security provision […]
11-17-6. Refunding bonds. Any bonds issued under this act and at any time outstanding may at any time and from time to time be refunded either in advance or by exchange by a municipality or county by the issuance of its refunding bonds in such amount as the governing body may deem necessary. Any such […]
11-17-7. Disposition of proceeds of bonds. The proceeds from the sale of any bonds issued under this act shall be applied only for the purposes for which the bonds were issued; but any accrued interest and premium received upon any such sale shall be applied to the payment of the principal of or the interest […]
11-17-8. Items included in cost of project. The cost of acquiring or improving any project includes the following: (1) the actual cost of acquiring or improving real estate; (2) the actual cost of enlarging, constructing, reconstructing, improving, maintaining, equipping, or furnishing all or any part of a project which may be constructed, including architects’ or […]
