Utah Code 35A-8-2101. Title — Purpose
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(1) This part is known as “Private Activity Bonds.”
Terms Used In Utah Code 35A-8-2101
- Bond: means any obligation for which an allocation of volume cap is required by the code. See Utah Code 35A-8-2102
- Code: means the Internal Revenue Code of 1986, as amended, and any related Internal Revenue Service regulations. See Utah Code 35A-8-2102
- State: means the state of Utah and any of its agencies, institutions, and divisions authorized to issue bonds or certificates under state law. See Utah Code 35A-8-2102
- Volume cap: means the private activity bond volume cap for the state as computed under Section 146 of the code. See Utah Code 35A-8-2102
(2) This part establishes procedures to effectively and equitably allocate this state‘s private activity bond volume cap authorized by the Internal Revenue Code of 1986 in order to maximize the social and economic benefits to this state.