Utah Statutes
§ 63B-7-111 — Bond proceeds -- Deposits -- Investment -- Disposition of investment income and unexpended proceeds.
Utah·Title 63B Bonds·Ch. 63B-7 1998 Bonding·Part 63B-7-1 Capital Facilities General Obligation Bonds
(1)(1)(a) Proceeds from the sale of bonds issued under this chapter shall be deposited within one or more accounts as determined by resolution of the commission.
(1)(b) The state treasurer shall administer and maintain these accounts unless otherwise provided by the commission by resolution.
(1)(c) The commission by resolution may provide for the deposit of the money with a trustee and the administration, disposition, or investment of the money by this trustee.
(2)(2)(a) The commission by resolution shall provide for the kinds of investments in which the proceeds of bonds issued under this chapter may be invested.
(2)(b) Income from the investment of proceeds of bonds issued under this chapter shall be applied as provided by resolution of the commission.
(3)Any unexpended bond proceeds
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Utah § 63B-7-111 (Bond proceeds -- Deposits -- Investment -- Disposition of investment income and unexpended proceeds.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Amended by Chapter 342, 2011 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.