Utah § 63A-1-112 Certificates of participation -- Legislative approval required -- Definition -- Exception.

Utah Statutes

§ 63A-1-112 — Certificates of participation -- Legislative approval required -- Definition -- Exception.

Utah § 63A-1-112

Title 63AUtah Government Operations Code

Ch. 63A-1Department of Government Operations

Part 63A-1-1General Provisions

This text of Utah § 63A-1-112 (Certificates of participation -- Legislative approval required -- Definition -- Exception.) 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. § 63A-1-112 (2026).

Text

(1)(1)(a) Certificates of participation for either capital facilities or capital improvements may not be issued by the department, its subdivisions, or any other state agency after July 1, 1985, without prior legislative approval.

(1)(b) Nothing in this section affects the rights and obligations surrounding certificates of participation that were issued prior to July 1, 1985.

(2)(2)(a) As used in this section, "certificate of participation" means an instrument that acts as evidence of the certificate holder's undivided interest in property being lease-purchased, the payment on which is subject to appropriation by the Legislature.

(2)(b) (2)(b)(i) As used in this Subsection (2)(b), "performance efficiency agreement" means the same as that term is defined in Section 63A-5b-1001.

(2)(b)(ii)

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

(1) (1)(a) Certificates of participation for either capital facilities or capital improvements may not be issued by the department, its subdivisions, or any other state agency after July 1, 1985, without prior legislative approval.
(1)(b) Nothing in this section affects the rights and obligations surrounding certificates of participation that were issued prior to July 1, 1985.
(2) (2)(a) As used in this section, "certificate of participation" means an instrument that acts as evidence of the certificate holder's undivided interest in property being lease-purchased, the payment on which is subject to appropriation by the Legislature.
(2)(b) (2)(b)(i) As used in this Subsection (2)(b), "performance efficiency agreement" means the same as that term is defined in Section 63A-5b-1001.
(2)(b)(ii) "Certificate of participation" does not include a performance efficiency agreement.