Utah § 10-7-18 Disposition of money received.

Utah Statutes

§ 10-7-18 — Disposition of money received.

Utah § 10-7-18

Title 10Utah Municipal Code

Ch. 10-7Miscellaneous Powers of Cities and Towns

Part 10-7-4Sale or Lease of Power Plants

This text of Utah § 10-7-18 (Disposition of money received.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 10-7-18 (2026).

Text

(1)All money received from the sale of property under Sections 10-7-15 through 10-7-17 shall be kept in a separate fund, and may not be expended, or mixed with other funds of the city or town, until all bonds and other indebtedness issued for the purchase or construction of the plant or works, together with accumulated interest thereon, have first been paid.

(2)If the property sold brings an amount in excess of the outstanding bonds and other indebtedness issued for the purchase or construction of the property sold, the excess shall be deposited in a bank in this state under direction of the municipal legislative body, and may not thereafter be expended except for some municipal purpose by authority given by the registered voters of the city or town at a general or special election calle

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(1) All money received from the sale of property under Sections 10-7-15 through 10-7-17 shall be kept in a separate fund, and may not be expended, or mixed with other funds of the city or town, until all bonds and other indebtedness issued for the purchase or construction of the plant or works, together with accumulated interest thereon, have first been paid.
(2) If the property sold brings an amount in excess of the outstanding bonds and other indebtedness issued for the purchase or construction of the property sold, the excess shall be deposited in a bank in this state under direction of the municipal legislative body, and may not thereafter be expended except for some municipal purpose by authority given by the registered voters of the city or town at a general or special election called and conducted in the manner set forth in Sections 10-7-7 and 10-7-8.