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 § 53H-9-306

Title 53HHigher Education

Ch. 53H-9Property and Facilities

Part 53H-9-3Revenue Bonds

This text of Utah § 53H-9-306 (Disposition and use of income from operation of buildings -- Payment of principal and interest on bonds.) 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. § 53H-9-306 (2026).

Text

(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

Free access — add to your briefcase to read the full text and ask questions with AI

(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.