Utah Code 53B-13-113. Bond approval by attorney general incontestable after 30 days — Recital of certification
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(1) The attorney general shall examine the resolutions and proceedings authorizing the issuance and confirming the sale of bonds under this chapter.
Terms Used In Utah Code 53B-13-113
- Bonds: means the bonds authorized to be issued by the board under this chapter, and may consist of bonds, notes, or debt obligations evidencing an obligation to repay borrowed money and payable solely from revenues and other money of the board pledged for repayment. See Utah Code 53B-13-102
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Obligations: means student loan notes and other debt obligations reflecting loans to students which the board may take, acquire, buy, sell, or endorse under this chapter, and may include a direct or indirect interest in the whole or any part of the notes or obligations. See Utah Code 53B-13-102
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
(2) Once examined and certified as legal obligations by the attorney general, the bonds become incontestable in any court in the state unless suit is brought in a court having jurisdiction within 30 days from the date of certification.
(3) The bonds certified under this section shall contain a recital on their face as follows: “This bond is one of a series of bonds which were certified as legal obligations by the Attorney General of the state of Utah on _______________.”
(4) Bonds authorized, issued, and sold under resolutions and proceedings certified by the attorney general are valid and binding obligations according to their terms.