Utah Statutes
§ 11-17-7 — Disposition of proceeds of bonds.
Utah·Title 11 Cities, Counties, and Local Taxing Units·Ch. 11-17 Utah Industrial Facilities and Development Act
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 on the bonds sold, and if for any reason any portion of such proceeds are not needed for the purposes for which the bonds were issued, then such unneeded portion of such proceeds shall be applied to the payment of the principal of or the interest on such bonds or in accordance with such other plan or device for the furtherance of the project and the protection of the bondholder as the governing body shall deem appropriate under the circumstances.
Free access — add to your briefcase to read the full text and ask questions with AI
Utah § 11-17-7 (Disposition of proceeds of bonds.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Amended by Chapter 378, 2010 General Session
Nearby Sections
15
§ 11-1-4
Sinking fund -- Investment.§ 11-1-6
Violation of act a misdemeanor.§ 11-10-2
Qualifications of licensee.§ 11-10-3
License fee.§ 11-13-101
Title.§ 11-13-102
Purpose of chapter.§ 11-13-103
Definitions.