Utah Code 17B-2a-1302. Provisions applicable to infrastructure financing district — Exceptions — Conflicting provisions — Contract for administrative services
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(1) An infrastructure financing district is governed by and has the powers stated in:
Terms Used In Utah Code 17B-2a-1302
- Bond: means :(3)(a) a written obligation to repay borrowed money, whether denominated a bond, note, warrant, certificate of indebtedness, or otherwise; and(3)(b) a lease agreement, installment purchase agreement, or other agreement that:(3)(b)(i) includes an obligation by the district to pay money; and(3)(b)(ii) the district's board of trustees, in its discretion, treats as a bond for purposes of Title 11, Chapter 14, Local Government Bonding Act, or Title 11, Chapter 27, Utah Refunding Bond Act. See Utah Code 17B-1-102
- Contract: A legal written agreement that becomes binding when signed.
- Infrastructure financing district: means a special district that operates under and is subject to the provisions of this chapter and Chapter 2a, Part 13, Infrastructure Financing Districts. See Utah Code 17B-1-102
- Lien: A claim against real or personal property in satisfaction of a debt.
- Municipality: means a city or town. See Utah Code 17B-1-102
- Property: includes both real and personal property. See Utah Code 68-3-12.5
(1)(a) this part; and(1)(b) Chapter 1, Provisions Applicable to All Special Districts, except as provided in Subsection (1)(b).(2)(2)(a) Notwithstanding Subsection17B-1-103 (2)(f), an infrastructure financing district may issue bonds only as provided in Title 11, Chapter 42, Assessment Area Act, subject to Subsection (2)(b), and Title 11, Chapter 42a, Commercial Property Assessed Clean Energy Act.(2)(b) To the extent that the provisions of Title 11, Chapter 42, Assessment Area Act, apply to the use of funds from an assessment or an assessment bond for infrastructure operation and maintenance costs or for the cost of conducting economic promotion activities, those provisions do not apply to an infrastructure financing district.(2)(c) Before a county or municipality‘s final inspection required for the issuance of a certificate of occupancy for a residential unit that is subject to an assessment levied by an infrastructure financing district under Title 11, Chapter 42, Assessment Area Act, the infrastructure financing district shall ensure that the assessment allocable to that unit is paid in full and that any assessment lien on that unit is satisfied and released.(3) Notwithstanding Subsection17B-1-103 (2)(h), an infrastructure financing district may not exercise the power of eminent domain.(4) This part applies only to an infrastructure financing district.(5) If there is a conflict between a provision in Chapter 1, Provisions Applicable to All Special Districts, and a provision in this part, the provision in this part governs.(6) An infrastructure financing district may contract with another governmental entity for the other governmental entity to provide administrative services to the infrastructure financing district.