Utah § 11-65-506 Bonds exempt from taxes -- Lake authority may purchase its own bonds.

Utah Statutes

§ 11-65-506 — Bonds exempt from taxes -- Lake authority may purchase its own bonds.

Utah § 11-65-506

Title 11Cities, Counties, and Local Taxing Units

Ch. 11-65Utah Lake Authority Act

Part 11-65-5Lake Authority Bonds

This text of Utah § 11-65-506 (Bonds exempt from taxes -- Lake authority may purchase its own 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. § 11-65-506 (2026).

Text

(1)A bond issued by the lake authority under this part is issued for an essential public and governmental purpose and is, together with interest on and income from the bond, exempt from all state taxes except the corporate franchise tax.

(2)The lake authority may purchase the lake authority's own bonds at a price that the board determines.

(3)Nothing in this section may be construed to limit the right of an obligee to pursue a remedy for the enforcement of a pledge or lien given under this part by the lake authority on the lake authority's rents, fees, grants, properties, or revenues.

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(1) A bond issued by the lake authority under this part is issued for an essential public and governmental purpose and is, together with interest on and income from the bond, exempt from all state taxes except the corporate franchise tax.
(2) The lake authority may purchase the lake authority's own bonds at a price that the board determines.
(3) Nothing in this section may be construed to limit the right of an obligee to pursue a remedy for the enforcement of a pledge or lien given under this part by the lake authority on the lake authority's rents, fees, grants, properties, or revenues.