Utah § 53H-9-306 Disposition and use of income from operation of buildings -- Payment of principal and interest on bonds.

Utah Statutes

§ 53H-9-306 — Disposition and use of income from operation of buildings -- Payment of principal and interest on bonds.

Utah·Title 53H Higher Education·Ch. 53H-9 Property and Facilities·Part 53H-9-3 Revenue Bonds

(1)Except for the revenues paid directly to a trustee under Subsection 53H-9-303(3)(f), all income and revenues from the operation of the buildings under this part are deposited as collected in a fund established in compliance withTitle 51, Chapter 7, State Money Management Act.

(2)(2)(a) This money is for the payment of the principal and interest on the bonds authorized under this part.

(2)(b) The money shall also be used, to the extent provided in the resolution authorizing the bonds, to pay for the cost of maintaining and operating the building and to establish reserves for that purpose.

(3)The board treasurer or other designated fiscal officer shall, not less than 15 days prior to the date interest and principal payments are due, transmit to the paying agent sufficient money from th

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(1) Except for the revenues paid directly to a trustee under Subsection 53H-9-303(3)(f), all income and revenues from the operation of the buildings under this part are deposited as collected in a fund established in compliance withTitle 51, Chapter 7, State Money Management Act.
(2) (2)(a) This money is for the payment of the principal and interest on the bonds authorized under this part.
(2)(b) The money shall also be used, to the extent provided in the resolution authorizing the bonds, to pay for the cost of maintaining and operating the building and to establish reserves for that purpose.
(3) The board treasurer or other designated fiscal officer shall, not less than 15 days prior to the date interest and principal payments are due, transmit to the paying agent sufficient money from the fund to pay the obligation.

Utah § 53H-9-306 (Disposition and use of income from operation of buildings -- Payment of principal and interest on bonds.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.