Utah § 17D-2-701 Local entity governing body may dissolve local building authority -- Limitation.

Utah Statutes

§ 17D-2-701 — Local entity governing body may dissolve local building authority -- Limitation.

Utah § 17D-2-701

Title 17DLimited Purpose Local Government Entities - Other Entities

Ch. 17D-2Local Building Authority Act

Part 17D-2-7Dissolution of Local Building Authority

This text of Utah § 17D-2-701 (Local entity governing body may dissolve local building authority -- Limitation.) 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. § 17D-2-701 (2026).

Text

(1)Subject to Subsection (2), the governing body of the creating local entity may at any time dissolve a local building authority created by the creating local entity, by following the procedures in Title 16, Chapter 6a, Utah Revised Nonprofit Corporation Act, for the dissolution of a nonprofit corporation.

(2)A creating local entity's governing body may not dissolve a local building authority unless:

(2)(a) (2)(a)(i) the principal, interest, and any redemption premium on all outstanding bonds of the local building authority are paid in full; and

(2)(a)(ii) all other obligations of the local building authority are paid in full; or

(2)(b) the local building authority has made provision for the payment, when due, of all bond and other obligations described in Subsection (2)(a).

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(1) Subject to Subsection (2), the governing body of the creating local entity may at any time dissolve a local building authority created by the creating local entity, by following the procedures in Title 16, Chapter 6a, Utah Revised Nonprofit Corporation Act, for the dissolution of a nonprofit corporation.
(2) A creating local entity's governing body may not dissolve a local building authority unless:

(2)(a) (2)(a)(i) the principal, interest, and any redemption premium on all outstanding bonds of the local building authority are paid in full; and
(2)(a)(ii) all other obligations of the local building authority are paid in full; or
(2)(b) the local building authority has made provision for the payment, when due, of all bond and other obligations described in Subsection (2)(a).