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Code · Utah · Title 11 — Cities, Counties, and Local Taxing Units · Chapter 68

11-68-506. Bonds exempt from taxes -- Authority may purchase its own bonds.

126 words·~1 min read·/ut/title-11/chapter-68/11-68-506

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Effective 5/3/2023
11-68-506. Bonds exempt from taxes -- Authority may purchase its own bonds.
(1)A bond issued by the authority under this part is issued for an essential public and governmental purpose and is, together with interest on the bond and income from the bond, exempt from all state taxes except the corporate franchise tax.
(2)The authority may purchase the authority's own bonds at a price that the board determines.
(3)Nothing in this section may be construed to limit the right of an obligee to pursue a remedy for the enforcement of a pledge or lien given under this part by the authority on the authority's income, revenues, proceeds, funds, fees, rents, grants, or taxes.
Enacted by Chapter 502 , 2023 General Session
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