17D-2-103. Status and authority of a local building authority -- Registration as a limited purpose entity.
(1) A local building authority: is a public entity and an instrumentality of the state, created by a local entity solely for the purpose of constructing, acquiring, improving, or extending, and financing the costs of, one or more projects on behalf of the local entity; shall be known as the "Local Building Authority of (name of the creating local entity)"; and may: as provided in this chapter, construct, acquire, improve, or extend, and finance the costs of, one or more projects on behalf of the creating local entity, in order to accomplish the public purposes for which the creating local entity exists; and as provided in, issue and sell its bonds for the purpose of paying the costs of constructing, acquiring, improving, or extending a project. Part 5, Local Building Authority Bonds
(2) Each local building authority shall register and maintain the local building authority's registration as a limited purpose entity, in accordance with Section. 67-1a-15 A local building authority that fails to comply with Subsectionor Sectionis subject to enforcement by the state auditor, in accordance with Section. (2)(a) 67-1a-15 67-3-1