Utah Statutes
§ 63B-1a-301 — Sinking fund -- Creation -- Investment of money.
Utah·Title 63B Bonds·Ch. 63B-1a Master General Obligation Bond Act·Part 63B-1a-3 General Obligation Bond Repayment Arrangements
(1)For bonds authorized and issued as provided in this chapter, the commission shall create a sinking fund, to be administered by the state treasurer.
(2)All money deposited in the sinking fund, from whatever source, shall be used to pay debt service on the bonds.
(3)The commission or the state treasurer may create separate accounts within the sinking fund.
(4)(4)(a) The state treasurer may, by following the procedures and requirements of Title 51, Chapter 7, State Money Management Act, invest any money contained in the sinking fund until it is needed for the purposes for which the fund was created.
(4)(b) Unless otherwise provided in the resolution of the commission authorizing the issuance of bonds under this chapter, the treasurer:
(4)(b)(i) shall deposit all income from the investm
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Utah § 63B-1a-301 (Sinking fund -- Creation -- Investment of money.) — 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.