Utah Constitution Article XIV Section 4 – Limit of indebtedness of counties, cities, towns, and school districts — Larger indebtedness may be allowed
(1)
Terms Used In Utah Constitution Article XIV Section 4 - Limit of indebtedness of counties, cities, towns, and school districts -- Larger indebtedness may be allowed
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(1)(a) If authorized to create indebtedness as provided in § 3 of this Article, no county may become indebted to an amount, including existing indebtedness, exceeding two per centum of the value of taxable property in the county.
(1)(b) No city, town, school district, or other municipal corporation, may become indebted to an amount, including existing indebtedness, exceeding four per centum of the value of the taxable property therein.
(2) For purposes of Subsection (1), the value of taxable property shall be ascertained by the last assessment for State and County purposes previous to the incurring of the indebtedness, except that in incorporated cities the assessment shall be taken from the last assessment for city purposes.
(3) A city of the first or second class, if authorized as provided in § 3 of this Article, may be allowed to incur a larger indebtedness, not to exceed four per centum, and any other city or town, not to exceed eight per centum additional, for supplying such city or town with water, artificial lights or sewers, if the works for supplying the water, light, and sewers are owned and controlled by the municipality.