Title 63B, Title 63B: Bonds

63B-6-411. Bond proceeds -- Deposits -- Investment -- Disposition of investment income and unexpended proceeds. (1) 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. The state tr…

63B-6-412. 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, the state of Utah is considered the public body and the commission its governing body. Title …

63B-6-413. 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 t…

63B-6-414. 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-6-415. 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-6-416. Publication of resolution or notice -- Limitation on actions to contest legality. (1) The commission may: publish any resolution it adopts under this chapter: once in a newspaper having general circulation in Utah; and as required in Section; or 45-1-101 in lieu of pub…

63B-6-417. Report to Legislature. The governor shall report the commission's proceedings to each annual general session of the Legislature in the governor's budget for as long as bonds issued under this chapter remain outstanding.

63B-6-501. Revenue bond authorizations. (1) It is the intent of the Legislature that: the State Board of Regents, on behalf of the University of Utah, issue, sell, and deliver revenue bonds or other evidences of indebtedness of the University of Utah to borrow money on the credit…

63B-6-502. Other capital facility authorizations and intent language. (1) It is the intent of the Legislature that the University of Utah use institutional funds to plan, design, and construct: the Health Science Lab Building under the supervision of the director of the Division …

63B-7-101. State Bonding Commission authorized to issue general obligation bonds. The commission created under Sectionmay issue and sell general obligation bonds of the state pledging the full faith, credit, and resources of the state for the payment of the principal of and inter…

63B-7-102. Maximum amount -- Projects authorized. (1) The total amount of bonds issued under this part may not exceed $33,600,000. (2) Proceeds from the issuance of bonds shall be provided to the division to provide funds to pay all or part of the cost of acquiring and constructi…

63B-7-103. Use of bond proceeds for issuance and other costs. The proceeds of bonds issued under this chapter shall be used for the purposes described in Sectionand to pay all or part of any cost incident to the issuance and sale of the bonds including, without limitation, printi…

63B-7-104. Manner of issuance -- Amounts, interest, and maturity. (1) Bonds issued under this chapter may be authorized, sold, and issued at times and in a manner determined by the commission by resolution. (2) Bonds may be issued in one or more series, in amounts, and shall bear…

63B-7-105. 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: the manner of sale, including public or private sale; the terms and conditions of…

63B-7-106. 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 Ar…

63B-7-107. 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: applicable bond red…

63B-7-108. Creation of sinking fund. (1) There is created a sinking fund, to be administered by the state treasurer, entitled the "1998 General Obligation Bonds Sinking Fund." (2) All money deposited in the sinking fund, from whatever source, shall be used to pay debt service on …

63B-7-109. 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-7-110. Investment of sinking fund money. (1) The state treasurer may, by following the procedures and requirements of, invest any money contained in the sinking fund until it is needed for the purposes for which the fund is created. Title 51, Chapter 7, State Money Management…

63B-7-111. Bond proceeds -- Deposits -- Investment -- Disposition of investment income and unexpended proceeds. (1) 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. The state tr…

63B-7-112. 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, the state of Utah is considered the public body and the commission its governing body. Title …

63B-7-113. 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 t…

63B-7-114. 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-7-115. 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-7-116. Publication of resolution or notice -- Limitation on actions to contest legality. (1) The commission may: publish any resolution it adopts under this chapter: once in a newspaper having general circulation in Utah; and as required in Section; or 45-1-101 in lieu of pub…

63B-7-117. Report to Legislature. The governor shall report the commission's proceedings to each annual general session of the Legislature in the governor's budget for as long as bonds issued under this chapter remain outstanding.

63B-7-201. State Bonding Commission authorized to issue general obligation bonds. The commission created under Sectionmay issue and sell general obligation bonds of the state pledging the full faith, credit, and resources of the state for the payment of the principal of and inter…

63B-7-202. Maximum amount -- Projects authorized. (1) The total amount of bonds issued under this part may not exceed $240,000,000. (2) Proceeds from the issuance of bonds shall be provided to the Department of Transportation to provide funds to pay all or part of the costs of st…

63B-7-203. Bond proceeds may be used to pay costs of issuance and sale. The proceeds of bonds issued under this chapter shall be used for the purposes described in Sectionand to pay all or part of any cost incident to the issuance and sale of the bonds including, without limitati…

63B-7-204. Manner of issuance -- Amounts, interest, and maturity. (1) Bonds issued under this chapter may be authorized, sold, and issued at times and in a manner determined by the commission by resolution. (2) Bonds may be issued in one or more series, in amounts, and shall bear…

63B-7-205. 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: the manner of sale, including public or private sale; the terms and conditions of…

63B-7-206. 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 Ar…

63B-7-207. 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: applicable bond red…

63B-7-208. Creation of sinking fund. (1) There is created a sinking fund, to be administered by the state treasurer, entitled the "1998 Highway General Obligation Bonds Sinking Fund." (2) All money deposited in the sinking fund, from whatever source, shall be used to pay debt ser…

63B-7-209. 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-7-210. Investment of sinking fund money. (1) The state treasurer may, by following the procedures and requirements of, invest any money contained in the sinking fund until it is needed for the purposes for which the fund is created. Title 51, Chapter 7, State Money Management…

63B-7-211. Bond proceeds -- Deposits -- Investment -- Disposition of investment income and unexpended proceeds. (1) 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. The state tr…

63B-7-212. 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, the state of Utah is considered the public body and the commission its governing body. Title …

63B-7-213. 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 t…

63B-7-214. 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-7-215. 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-7-216. Publication of resolution or notice -- Limitation on actions to contest legality. (1) The commission may: publish any resolution it adopts under this chapter: once in a newspaper having general circulation in Utah; and as required in Section; or 45-1-101 in lieu of pub…

63B-7-217. Report to Legislature. The governor shall report the commission's proceedings to each annual general session of the Legislature in the governor's budget for as long as bonds issued under this chapter remain outstanding.

63B-7-301. 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 2, 1998 Highway General Obligation Bond Authorization (2) "Flexible note" means a bond ant…

63B-7-302. 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 th…

63B-7-303. 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 n…