Utah Statutes
§ 63B-2-108 — Creation of sinking fund.
Utah·Title 63B Bonds·Ch. 63B-2 1993 Bonding·Part 63B-2-1 Capital Facilities and Capital Improvement Bonding
(1)There is created a sinking fund, to be administered by the state treasurer, entitled the "1993 General Obligation Bonds Sinking Fund."
(2)All money deposited in the sinking fund, from whatever source, shall be used to pay debt service on the bonds.
(3)The proceeds of all taxes levied under this chapter are appropriated to this fund.
(4)The state treasurer may create separate accounts within the sinking fund for each series of bonds issued.
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Legislative History
Enacted by Chapter 304, 1993 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.