Utah Statutes
§ 63B-1a-201 — Bonds proceeds -- Deposits -- Investment -- Disposition of investment income and unexpended proceeds.
Utah·Title 63B Bonds·Ch. 63B-1a Master General Obligation Bond Act·Part 63B-1a-2 Disposition of Proceeds from General Obligation Bonds
(1)(1)(a) The commission shall provide that proceeds from the sale of bonds issued under this chapter are deposited within one or more accounts as determined by the commission or by the state treasurer.
(1)(b) The state treasurer shall administer and maintain these accounts.
(2)(2)(a) The state treasurer shall:
(2)(a)(i) establish the kinds of investments in which the proceeds of bonds issued under this chapter may be invested; and
(2)(a)(ii) designate where the income from the investment of bond proceeds shall be applied.
(2)(b) The state treasurer shall apply the income from the investment of proceeds of bonds issued under this chapter as directed by the commission by resolution.
(3)Upon completion of the purposes for which the bonds were issued, any unexpended proceeds of the bonds i
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Utah § 63B-1a-201 (Bonds proceeds -- Deposits -- Investment -- Disposition of investment income and unexpended proceeds.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Enacted by Chapter 2, 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.