Utah Statutes
§ 63B-1-310 — Proceeds from sale of obligations -- Use.
Utah·Title 63B Bonds·Ch. 63B-1 General Provisions·Part 63B-1-3 State Building Ownership Authority Act
(1)The proceeds from the sale of obligations issued under this part may be applied only for the purposes for which the obligations were issued.
(2)Any accrued interest and premium received upon the sale, and any portion of the proceeds that may not be needed for the purposes for which the obligations were issued, shall be applied to the payment of the principal of, or the interest on, the obligations.
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Utah § 63B-1-310 (Proceeds from sale of obligations -- Use.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Renumbered and Amended by Chapter 86, 2003 General Session
Nearby Sections
15
§ 63B-1-101
Definitions.§ 63B-1-201
Members -- Powers and duties -- Per diem.§ 63B-1-301
Title.§ 63B-1-302
Legislative findings.§ 63B-1-303
Definitions.§ 63B-1-305
Powers and duties of authority.§ 63B-1-309
Securing of obligations -- Provisions in mortgages given as security -- Procedure upon default.§ 63B-1-310
Proceeds from sale of obligations -- Use.§ 63B-1-311
Cost of acquiring or constructing facility.