Utah § 17D-4-303 Limits on public infrastructure district property tax levy -- Notice requirements.

Utah Statutes

§ 17D-4-303 — Limits on public infrastructure district property tax levy -- Notice requirements.

Utah·Title 17D Limited Purpose Local Government Entities - Other Entities·Ch. 17D-4 Public Infrastructure District Act·Part 17D-4-3 Bond Issuance, Fee Collection, and Property Tax Levy Authority for a Public Infrastructure District

(1)The property tax levy of a public infrastructure district, for all purposes, including payment of debt service on limited tax bonds, may not exceed .015 per dollar of taxable value of taxable property in the district.

(2)The limitation described in Subsection (1) does not apply to the levy by the public infrastructure district to pay principal of and interest on a general obligation bond that the public infrastructure district issues.

(3)(3)(a) Within 30 days after the day on which the lieutenant governor issues a certificate of incorporation for the public infrastructure district under Section 67-1a-6.5, the board shall record a notice with the recorder of the county in which property within the public infrastructure district is located.

(3)(b) The notice described in Subsection (3)

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(1) The property tax levy of a public infrastructure district, for all purposes, including payment of debt service on limited tax bonds, may not exceed .015 per dollar of taxable value of taxable property in the district.
(2) The limitation described in Subsection (1) does not apply to the levy by the public infrastructure district to pay principal of and interest on a general obligation bond that the public infrastructure district issues.
(3) (3)(a) Within 30 days after the day on which the lieutenant governor issues a certificate of incorporation for the public infrastructure district under Section 67-1a-6.5, the board shall record a notice with the recorder of the county in which property within the public infrastructure district is located.
(3)(b) The notice described in Subsection (3)(a) shall:
(3)(b)(i) contain a description of the boundaries of the public infrastructure district;
(3)(b)(ii) state that a copy of the governing document is on file at the office of the creating entity;
(3)(b)(iii) state that the public infrastructure district may finance and repay infrastructure and other improvements through the levy of a property tax; and
(3)(b)(iv) state the maximum rate that the public infrastructure district may levy.
(3)(c) The effective date of the public infrastructure district for purposes of assessing property tax is the day on which the notice is recorded in the office of the recorder of each county in which the public infrastructure district is located, as described in Section 59-2-305.5.
(4) If the board fails to record a notice as described in Subsection (3):
(4)(a) the public infrastructure district is still created as of the day the lieutenant governor issues a certificate of incorporation for the public infrastructure district;
(4)(b) any bonds issued by the public infrastructure district are still valid; and
(4)(c) the public infrastructure district may not levy a tax or levy or collect a fee until the board records the notice described in Subsection (3).

Utah § 17D-4-303 (Limits on public infrastructure district property tax levy -- Notice requirements.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.