Utah Code 54-9-107. Disposition of proceeds and revenues
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All money belonging to a public power entity in connection with common facilities, including the proceeds of the sale of bonds and the revenues arising from the operation of common facilities:
(1) may be deposited in a bank or trust company doing business within or without the state; and
Terms Used In Utah Code 54-9-107
- Common facilities: means all works and facilities:(1)(a) owned or used by two or more public power entities or power utilities; and(1)(b) necessary to the generation, transmission, or distribution of electric power and energy. See Utah Code 54-9-102
- Public power entity: means :
(4)(a) a city or town that owns a system for the generation, transmission, or distribution of electric power and energy for public or private use; and(4)(b) an interlocal entity. See Utah Code 54-9-102- 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) shall be accounted for and disbursed in accordance with applicable law and the provisions of the resolution or indenture authorizing the issuance of the bonds. - Public power entity: means :