Utah Statutes
§ 63A-1-112 — Certificates of participation -- Legislative approval required -- Definition -- Exception.
Utah·Title 63A Utah Government Operations Code·Ch. 63A-1 Department of Government Operations·Part 63A-1-1 General Provisions
(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)
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Utah § 63A-1-112 (Certificates of participation -- Legislative approval required -- Definition -- Exception.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Amended by Chapter 152, 2020 General Session
Nearby Sections
15
§ 63A-1-101
Title.§ 63A-1-102
Purposes.§ 63A-1-103
Definitions.§ 63A-1-104
Creation of department.§ 63A-1-105.5
Rulemaking authority of executive director.§ 63A-1-109
Divisions of department -- Administration.§ 63A-1-109.5
Department authority to operate the department, a division, or an office as an internal service fund agency.§ 63A-1-112
Certificates of participation -- Legislative approval required -- Definition -- Exception.§ 63A-1-113
Agency exempt from title.§ 63A-1-114
Rate committee -- Membership -- Duties.