11-32-10. Application to other laws and proceedings. (1) This chapter is supplemental to all existing laws relating to the collection of delinquent taxes by participant members. (2) (a) No ordinance, resolution, or proceeding in respect to any transaction authorized by this chapter is necessary except as specifically required in this chapter nor is the publication […]
11-32-11. Publication of resolutions — Notice — Content. (1) The governing body of any county, or the board of trustees of any financing authority, may provide for the publication of any resolution or other proceeding adopted by it under this chapter: (a) in a newspaper having general circulation in the county; and (b) as required […]
11-32-12. Investment in and deposit of bonds. Bonds issued under this chapter shall be securities in which all persons and organizations authorized to invest in any obligations of political subdivisions of this state, may properly and legally invest any funds, including capital belonging to them or within their control. Bonds are also declared to be […]
11-32-13. Financing authority as public entity — Liberal construction of chapter. A financing authority is a public entity and an instrumentality of the state performing essential governmental functions on behalf of participant members. To better enable financing authorities to perform these functions, this chapter shall be liberally construed. Enacted by Chapter 143, 1987 General Session
11-32-14. Provisions of chapter control when conflict occurs. To the extent that any one or more provisions of this chapter are in conflict with any other law or laws, the provisions of this chapter are controlling. Enacted by Chapter 143, 1987 General Session
11-32-15. Special fund — Apportionment of excess amounts. (1) The provisions of Title 59, Revenue and Taxation, otherwise notwithstanding, delinquent taxes paid to the county on behalf of the participant members shall be paid into the special fund created with respect to the bonds issued by any authority. (2) Following the payment of all bonds […]
11-32-16. Deferral or abatement of taxes unaffected. The provisions of this chapter may not be construed to prevent the county from exercising any of its powers to defer or abate taxes as provided by statute. Enacted by Chapter 143, 1987 General Session
11-32-17. Anticipation of taxes to be considered in fixing tax rate. To the extent that a participant member uses the provisions of this chapter to anticipate the collection of delinquent taxes in any given year, such participant member shall take such anticipation into account in fixing its tax rate for the following year. Enacted by […]
11-32-3. Creation of county interlocal finance authority as nonprofit corporation — Organization — Acquisition of delinquent tax receivables — Personnel — Duties of elected attorney and treasurer. (1) The governing body of any county within the state may, by resolution, organize a nonprofit corporation as the financing authority for the county on behalf of public […]
11-32-3.5. Entry into an established interlocal finance authority — Withdrawal from an interlocal finance authority — Effect of outstanding debt — Effect on organization. (1) The governing body of any public body, which is not at that time a member of a financing authority established in the county in which the public body is located, […]
Effective 5/13/2014 11-32-4. Assignment of rights to receive delinquent tax receivables to financing authority — Documentation — Agreement. (1) At any time following the date of delinquency for property in Title 59, Chapter 2, Part 13, Collection of Taxes, the governing body of any county desiring to implement the provisions of this chapter by assigning […]
11-32-5. Bonds authorized to pay costs of purchase of delinquent tax receivables. (1) A financing authority may issue and sell its bonds on behalf of the participant members for the purpose of: (a) paying the costs of purchasing the delinquent tax receivables of the participant members; (b) paying the costs associated with the issuance of […]
11-32-6. Payment of bonds. (1) Except as secured as provided in Subsection 11-32-7(1)(c), all bonds issued by a financing authority and the interest and premium, if any, on them, shall be payable solely out of amounts received by the authority under the assignment agreement with respect to the delinquent tax receivables acquired with the proceeds […]
11-32-7. Bond principal and interest — Security agreements — Trustee. (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 received by the financing authority under the assignment agreement with respect to the delinquent tax receivables purchased with the proceeds […]
11-32-8. Dissolution of financing authority. (1) The governing body of a county may at any time dissolve a financing authority created by the county in the manner then provided in Title 16, Chapter 6a, Utah Revised Nonprofit Corporation Act, subject to the limitations of this chapter. (2) A financing authority may not be dissolved unless […]
11-32-9. Tax exemption. All amounts becoming due under assignment agreements and all bonds issued by a financing authority and the interest accruing on them shall be exempt from all taxation in this state, except for the corporate franchise tax. Enacted by Chapter 143, 1987 General Session
