Title 11, Title 11: Cities, Counties, and Local Taxing Units

11-32-13. Financing authority as public entity -- Liberal construction of chapter. A financing authority is a public entity and an instrumentality of the state performing essential governmental functions on behalf of participant members. To better enable financing authorities to …

11-32-14. Provisions of chapter control when conflict occurs. To the extent that any one or more provisions of this chapter are in conflict with any other law or laws, the provisions of this chapter are controlling.

11-32-15. Special fund -- Apportionment of excess amounts. (1) The provisions of, otherwise notwithstanding, delinquent taxes paid to the county on behalf of the participant members shall be paid into the special fund created with respect to the bonds issued by any authority. Tit…

11-32-16. Deferral or abatement of taxes unaffected. The provisions of this chapter may not be construed to prevent the county from exercising any of its powers to defer or abate taxes as provided by statute.

11-32-17. Anticipation of taxes to be considered in fixing tax rate. To the extent that a participant member uses the provisions of this chapter to anticipate the collection of delinquent taxes in any given year, such participant member shall take such anticipation into account i…

11-32-2. Definitions. As used in this chapter: (1) "Assignment agreement" means the agreement, security agreement, indenture, or other documentation by which the county transfers the delinquent tax receivables to the authority in consideration of the amounts paid by the authority…

11-32-3. Creation of county interlocal finance authority as nonprofit corporation -- Organization -- Acquisition of delinquent tax receivables -- Personnel -- Duties of elected attorney and treasurer. (1) The governing body of any county within the state may, by resolution, organ…

11-32-3.5. Entry into an established interlocal finance authority -- Withdrawal from an interlocal finance authority -- Effect of outstanding debt -- Effect on organization. (1) The governing body of any public body, which is not at that time a member of a financing authority est…

11-32-4. Assignment of rights to receive delinquent tax receivables to financing authority -- Documentation -- Agreement. (1) At any time following the date of delinquency for property in, the governing body of any county desiring to implement the provisions of this chapter by as…

11-32-5. Bonds authorized to pay costs of purchase of delinquent tax receivables. (1) A financing authority may issue and sell its bonds on behalf of the participant members for the purpose of: paying the costs of purchasing the delinquent tax receivables of the participant membe…

11-32-6. Payment of bonds. (1) Except as secured as provided in Subsection, all bonds issued by a financing authority and the interest and premium, if any, on them, shall be payable solely out of amounts received by the authority under the assignment agreement with respect to the…

11-32-7. Bond principal and interest -- Security agreements -- Trustee. (1) The principal of and interest on any bonds issued under this chapter: shall be secured by a pledge and assignment of the revenues received by the financing authority under the assignment agreement with re…

11-32-8. Dissolution of financing authority. (1) The governing body of a county may at any time dissolve a financing authority created by the county in the manner then provided in, subject to the limitations of this chapter. Title 16, Chapter 6a, Utah Revised Nonprofit Corporatio…

11-32-9. Tax exemption. All amounts becoming due under assignment agreements and all bonds issued by a financing authority and the interest accruing on them shall be exempt from all taxation in this state, except for the corporate franchise tax.