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60 chapters · 680 sections in this title.
Utah Code § 11-42-609 Validation of previously issued obligations.
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11-42-609. Validation of previously issued obligations. (1) Subject to Subsection (2): (a) all local entity obligations issued by a local entity before April 30, 2007 are: (i) validated, ratified, and confirmed; and (ii) declared to constitute legally binding obligations in accor…
Utah Code § 11-42-701 Guaranty fund.
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11-42-701. Guaranty fund. (1) Except as provided in Section 11-42-702, each local entity that issues assessment bonds shall: (a) create a guaranty fund, as provided in this section, to secure bonds, to the extent of the money in the fund; and (b) fund the guaranty fund by: (i) ap…
Utah Code § 11-42-702 Reserve fund.
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11-42-702. Reserve fund. (1) In lieu of creating and funding a guaranty fund under Section 11-42-701 for an issue of assessment bonds or refunding assessment bonds, a local entity may establish a reserve fund to secure the issue. (2) If a local entity establishes a reserve fund u…
Utah Code § 11-42-703 Payment from guaranty fund or reserve fund if insufficient funds available in the assessment fund -- Payment by warrant from guaranty fund or reserve fund -- Subrogation.
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11-42-703. Payment from guaranty fund or reserve fund if insufficient funds available in the assessment fund -- Payment by warrant from guaranty fund or reserve fund -- Subrogation. (1) If a bond is presented to the local entity for payment at a time when there is insufficient mo…