Title 63B, Bonds

63B-10-105. Terms and conditions of sale -- Plan of financing -- Signatures -- Replacement -- Registration -- Federal rebate. (1) In the issuance of bonds, the commission may determine by resolution: (a) the manner of sale, including public or private sale; (b) the terms and cond…

63B-10-106. Constitutional debt limitation. (1) The commission may not issue bonds under this chapter in an amount that violates the limitation described in Utah Constitution Article XIV, Section 1. (2) For purposes of applying the debt limitation contained in Utah Constitution A…

63B-10-107. Tax levy -- Abatement of tax. (1) Each year after issuance of the bonds and until all outstanding bonds are retired, there is levied a direct annual tax on all real and personal property within the state subject to state taxation, sufficient to pay: (a) applicable bon…

63B-10-108. Creation of sinking fund. (1) There is created a sinking fund, to be administered by the state treasurer, entitled the "2001 Highway General Obligation Bonds Sinking Fund." (2) All money deposited in the sinking fund, from whatever source, shall be used to pay debt se…

63B-10-109. Payment of interest, principal, and redemption premiums. (1) The Division of Finance shall draw warrants on the state treasury before any interest, principal, or redemption premiums become due on the bonds. (2) After receipt of the warrants, the state treasurer shall:…

63B-10-110. Investment of sinking fund money. (1) The state treasurer may, by following the procedures and requirements of Title 51, Chapter 7, State Money Management Act, invest any money contained in the sinking fund until it is needed for the purposes for which the fund is cre…

63B-10-111. Bond proceeds -- Deposits -- Investment -- Disposition of investment income and unexpended proceeds. (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. (b) The …

63B-10-112. Refunding of bonds. (1) The commission may provide for the refunding of any of the bonds in accordance with Title 11, Chapter 27, Utah Refunding Bond Act. (2) For purposes of Title 11, Chapter 27, Utah Refunding Bond Act, the state of Utah is considered the public bod…

63B-10-113. Certification of satisfaction of conditions precedent -- Conclusiveness. (1) The commission may not issue any bond under this chapter until it finds and certifies that all conditions precedent to issuance of the bonds have been satisfied. (2) A recital on any bond of …

63B-10-114. Tax exemption. The bonds issued under this chapter, any interest paid on the bonds, and any income from the bonds are not taxable in this state for any purpose, except for the corporate franchise tax.

63B-10-115. Legal investment status. Bonds issued under this chapter are legal investments for all state trust funds, insurance companies, banks, trust companies, and the State School Fund and may be used as collateral to secure legal obligations.

63B-10-116. Publication of resolution or notice -- Limitation on actions to contest legality. (1) The commission may: (a) publish any resolution it adopts under this chapter: (i) once in a newspaper having general circulation in Utah; and (ii) as required in Section 45-1-101; or …

63B-10-117. Report to Legislature. The governor shall report the commission's proceedings to each annual general session of the Legislature in his budget for as long as bonds issued under this chapter remain outstanding.

63B-10-201. Definitions. As used in this part: (1) "Bond anticipation note" means a note issued in anticipation of the receipt of the proceeds of the sale of the bonds authorized under Part 1, 2001 Highway General Obligation Bonds. (2) "Flexible note" means a bond anticipation no…

63B-10-202. Authorization, terms, and procedures. (1) The state treasurer may, by written order, issue bond anticipation notes and renewals of bond anticipation notes, including, but not limited to, flexible notes and short-term series notes, in the form and with the terms that h…

63B-10-203. Purchase and redemption requirements. (1) The notes and renewals of notes may provide the holders of the notes or renewals of notes with the right to require the state or other persons to purchase or redeem the notes or renewal notes before the stated maturity of the …

63B-10-204. General provisions -- Funds and accounts. (1)(a) Sections 63B-10-105, 63B-10-106, 63B-10-113, 63B-10-114, 63B-10-115, and 63B-10-116 apply to any notes or renewals of notes issued under this part. (b)(i) For purposes of this part, any action that those sections requir…

63B-10-301. Revenue bond authorizations. (1)(a) It is the intent of the Legislature that the State Building Ownership Authority, under the authority of Title 63B, Chapter 1, Part 3, State Building Ownership Authority Act, may issue or execute obligations, or enter into or arrange…

63B-10-302. Other revenue bond authorizations. (1) It is the intent of the Legislature that the State Building Ownership Authority, under the authority of Title 63B, Chapter 1, Part 3, State Building Ownership Authority Act, may issue or execute obligations to provide up to $12,0…

63B-10-401. Other capital facility authorizations and intent language. (1) It is the intent of the Legislature that: (a) Utah State University use institutional funds to plan, design, and construct an expansion of the HPER Building under the direction of the director of the Divis…