Effective 5/14/2019 53G-4-602. School district tax anticipation notes. (1) A local school board may borrow money in anticipation of the collection of taxes or other revenue of the school district so long as it complies with Title 11, Chapter 14, Local Government Bonding Act. (2) The local school board may incur indebtedness under this section […]
Effective 1/24/2018 53G-4-603. Additional indebtedness — Election — Voter information pamphlet. (1) As used in this section: (a) “Qualifying general obligation bond” means a bond: (i) issued pursuant to Title 11, Chapter 14, Local Government Bonding Act; and (ii) authorized by an election held on or after July 1, 2014. (b) “Voter information pamphlet” means […]
Effective 5/14/2019 53G-4-604. Consolidated school district bonds. (1) A consolidated county school district may issue bonds, without an election, to fund, purchase, or redeem the district’s outstanding indebtedness if the debt was incurred prior to consolidation and assumed by the consolidated school district. (2) The legality, regularity, and validity of the outstanding indebtedness shall be […]
Effective 5/14/2019 53G-4-605. Testing validity of bonds to be refunded — Procedure. If considered advisable by the local school board, the validity of any bonds intended to be refunded may be determined in the following manner: (1) The local school board shall: (a) publish a notice describing with sufficient particularity for identification the bond or […]
Effective 5/14/2019 53G-4-606. Sinking fund — Investment. (1) The money levied and collected to create a sinking fund for the redemption of bonds issued by a local school board shall be immediately credited to a special fund. (2) After retaining an amount sufficient to pay the principal of the bonds maturing during the year, the […]
Effective 1/24/2018 53G-4-607. Bonds a lien on property — Levy of tax to pay bonds. (1) Bonds issued under this part are a lien upon the taxable property of the school district issuing them. (2) If the local school board neglects or refuses to cause a tax to be levied in accordance with law to […]
Affected by 63I-1-253 on 1/1/2025 Effective 1/24/2018 53G-4-608. Requirement to conduct seismic safety evaluations when issuing a bond. (1) As used in this section: (a) “Federal guidelines” means guidelines and procedures specified in “Rapid Visual Screening of Buildings for Potential Seismic Hazards: A Handbook, 2nd Edition” published by the United States Federal Emergency Management Agency. […]
