Utah Code 11-42-704. Transfers from local entity funds to replenish guaranty fund or reserve fund
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Terms Used In Utah Code 11-42-704
- Governing body: means :(22)(a) for a county, city, or town, the legislative body of the county, city, or town;(22)(b) for a special district, the board of trustees of the special district;(22)(c) for a special service district:(22)(c)(i) the legislative body of the county, city, or town that established the special service district, if no administrative control board has been appointed under Section
17D-1-301 ; or(22)(c)(ii) the administrative control board of the special service district, if an administrative control board has been appointed under Section17D-1-301 ;(22)(d) for the military installation development authority created in Section63H-1-201 , the board, as defined in Section63H-1-102 ;(22)(e) for the Utah Inland Port Authority, created in Section11-58-201 , the board, as defined in Section11-58-102 ; and(22)(f) for a public infrastructure district, the board of the public infrastructure district as defined in Section17D-4-102 . See Utah Code 11-42-102- Guaranty fund: means the fund established by a local entity under Section
11-42-701 . See Utah Code 11-42-102- Local entity: means :
(31)(a) a county, city, town, special service district, or special district;(31)(b) an interlocal entity as defined in Section11-13-103 ;(31)(c) the military installation development authority, created in Section63H-1-201 ;(31)(d) a public infrastructure district under Title 17D, Chapter 4, Public Infrastructure District Act, including a public infrastructure district created by a development authority;(31)(e) the Utah Inland Port Authority, created in Section11-58-201 ; or(31)(f) any other political subdivision of the state. See Utah Code 11-42-102- Property: includes real property and any interest in real property, including water rights and leasehold rights. See Utah Code 11-42-102
- Reserve fund: means a fund established by a local entity under Section
11-42-702 . See Utah Code 11-42-102If the guaranty fund or, if applicable, the reserve fund has insufficient money for the local entity to purchase property on which it bids at a sale under Part 5, Assessment Liens, for delinquent assessments, the local entity may transfer or appropriate money from its general fund or other available sources, as the governing body determines, to replenish the guaranty fund or reserve fund.
- Guaranty fund: means the fund established by a local entity under Section