Utah § 17D-2-501 Provisions applicable to issuance of local building authority bonds.

Utah Statutes

§ 17D-2-501 — Provisions applicable to issuance of local building authority bonds.

Utah·Title 17D Limited Purpose Local Government Entities - Other Entities·Ch. 17D-2 Local Building Authority Act·Part 17D-2-5 Local Building Authority Bonds

(1)Except as otherwise provided in this chapter:

(1)(a) each local building authority that issues bonds shall:

(1)(a)(i) issue them as provided in Title 11, Chapter 14, Local Government Bonding Act, except Section 11-14-306; and

(1)(a)(ii) receive the benefits of Title 11, Chapter 30, Utah Bond Validation Act;

(1)(b) bonds issued by a local building authority are governed by and subject to Title 11, Chapter 14, Local Government Bonding Act, except Sections 11-14-306 and 11-14-403; and

(1)(c) each local building authority that issues refunding bonds shall issue them as provided in Title 11, Chapter 27, Utah Refunding Bond Act.

(2)A local building authority that issues a lease revenue bond on or after May 1, 2024 shall comply with the same requirements and is subject to the same limitation

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(1) Except as otherwise provided in this chapter:
(1)(a) each local building authority that issues bonds shall:
(1)(a)(i) issue them as provided in Title 11, Chapter 14, Local Government Bonding Act, except Section 11-14-306; and
(1)(a)(ii) receive the benefits of Title 11, Chapter 30, Utah Bond Validation Act;
(1)(b) bonds issued by a local building authority are governed by and subject to Title 11, Chapter 14, Local Government Bonding Act, except Sections 11-14-306 and 11-14-403; and
(1)(c) each local building authority that issues refunding bonds shall issue them as provided in Title 11, Chapter 27, Utah Refunding Bond Act.
(2) A local building authority that issues a lease revenue bond on or after May 1, 2024 shall comply with the same requirements and is subject to the same limitations under Subsection 11-14-103(6) that apply to the issuance of a lease revenue bond by a local political subdivision, as defined in Section 11-14-102.

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