Utah Code 17B-1-1105. Revenue bonds — Requirement to impose rates and charges to cover revenue bonds — Authority to make agreements and covenants to provide for bond repayment
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(1) A special district intending to issue revenue bonds may, but is not required to, submit to district voters for their approval the issuance of the revenue bonds at an election held for that purpose as provided in Title 11, Chapter 14, Local Government Bonding Act.
Terms Used In Utah Code 17B-1-1105
- Special district: means a limited purpose local government entity, as described in Section
17B-1-103 , that operates under, is subject to, and has the powers described in:(31)(a) this chapter; or(31)(b)(31)(b)(i) this chapter; and(31)(b)(ii)(31)(b)(ii)(A) Chapter 2a, Part 1, Cemetery Maintenance District Act;(31)(b)(ii)(B) Chapter 2a, Part 2, Drainage District Act;(31)(b)(ii)(C) Chapter 2a, Part 3, Fire Protection District Act;(31)(b)(ii)(D) Chapter 2a, Part 4, Improvement District Act;(31)(b)(ii)(E) Chapter 2a, Part 5, Irrigation District Act;(31)(b)(ii)(F) Chapter 2a, Part 6, Metropolitan Water District Act;(31)(b)(ii)(G) Chapter 2a, Part 7, Mosquito Abatement District Act;(31)(b)(ii)(H) Chapter 2a, Part 8, Public Transit District Act;(31)(b)(ii)(I) Chapter 2a, Part 9, Service Area Act;(31)(b)(ii)(J) Chapter 2a, Part 10, Water Conservancy District Act;(31)(b)(ii)(K) Chapter 2a, Part 11, Municipal Services District Act; or(31)(b)(ii)(L) Chapter 2a, Part 13, Infrastructure Financing Districts. See Utah Code 17B-1-102(2) Each special district that has issued revenue bonds shall impose rates and charges for the services or commodities it provides fully sufficient, along with other sources of district revenues, to carry out all undertakings of the district with respect to its revenue bonds.(3) A special district that issues revenue bonds may:(3)(a) agree to pay operation and maintenance expenses of the district from the proceeds of the ad valorem taxes authorized in Subsection 17B-1-103(2)(g); and(3)(b) for the benefit of bondholders, enter into covenants that:(3)(b)(i) are permitted by Title 11, Chapter 14, Local Government Bonding Act; and(3)(b)(ii) provide for other pertinent matters that the board of trustees considers proper to assure the marketability of the bonds.