Utah § 11-14-309 Refunding bonds -- Limitation on redemption of bonds.

Utah Statutes

§ 11-14-309 — Refunding bonds -- Limitation on redemption of bonds.

Utah § 11-14-309

Title 11Cities, Counties, and Local Taxing Units

Ch. 11-14Local Government Bonding Act

Part 11-14-3Issuance of Bonds

This text of Utah § 11-14-309 (Refunding bonds -- Limitation on redemption of bonds.) 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. § 11-14-309 (2026).

Text

(1)Any bond issued under this chapter may be refunded as provided in the Utah Refunding Bond Act.

(2)Nothing contained in this chapter nor in any other law of this state may be construed to permit any local political subdivision to call outstanding bonds for redemption in order to refund those bonds or in order to pay them prior to their stated maturities, unless:

(2)(a) the right to call the bonds for redemption was specifically reserved and stated in the bonds at the time of their issuance; and

(2)(b) all conditions with respect to the manner, price, and time applicable to the redemption as set forth in the proceedings authorizing the outstanding bonds are strictly observed.

(3)A holder of an outstanding bond may not be compelled to surrender the bond for refunding before its stated

Free access — add to your briefcase to read the full text and ask questions with AI

(1) Any bond issued under this chapter may be refunded as provided in the Utah Refunding Bond Act.
(2) Nothing contained in this chapter nor in any other law of this state may be construed to permit any local political subdivision to call outstanding bonds for redemption in order to refund those bonds or in order to pay them prior to their stated maturities, unless:

(2)(a) the right to call the bonds for redemption was specifically reserved and stated in the bonds at the time of their issuance; and
(2)(b) all conditions with respect to the manner, price, and time applicable to the redemption as set forth in the proceedings authorizing the outstanding bonds are strictly observed.
(3) A holder of an outstanding bond may not be compelled to surrender the bond for refunding before its stated maturity or optional date of redemption expressly reserved in the bond, even though the refunding might result in financial benefit to the local political subdivision issuing the bond.