Utah § 17D-2-504 Local building authority bonds payable solely from lease payments.

Utah Statutes

§ 17D-2-504 — Local building authority bonds payable solely from lease payments.

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 to the extent that they are secured as provided in Section 17D-2-505, bonds issued by a local building authority and interest on the bonds are payable solely from payments received under a lease agreement with the creating local entity with respect to the project that was financed with the bond proceeds.

(2)Each bond issued by a local building authority shall recite on its face that the bond is payable as provided in Subsection (1).

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(1) Except to the extent that they are secured as provided in Section 17D-2-505, bonds issued by a local building authority and interest on the bonds are payable solely from payments received under a lease agreement with the creating local entity with respect to the project that was financed with the bond proceeds.
(2) Each bond issued by a local building authority shall recite on its face that the bond is payable as provided in Subsection (1).

Utah § 17D-2-504 (Local building authority bonds payable solely from lease payments.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.