17D-2-501. Provisions applicable to issuance of local building authority bonds.
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Effective 5/1/2024
17D-2-501. Provisions applicable to issuance of local building authority bonds.
(1)Except as otherwise provided in this chapter:
(a)each local building authority that issues bonds shall:
(i)issue them as provided in Title 11, Chapter 14, Local Government Bonding Act, except Section 11-14-306 ; and
(ii)receive the benefits of Title 11, Chapter 30, Utah Bond Validation Act;
(b)bonds issued by a local building authority are governed by and subject to Title 11, Chapter 14, Local Government Bonding Act, except Sections 11-14-306 and 11-14-403 ; and
(c)each local building authority that issues refunding bonds shall issue them as provided in Title 11, Chapter 27, Utah Refunding Bond Act.
(2)A local building authority that issues a lease revenue bond on or after May 1, 2024 shall comply with the same requirements and is subject to the same limitations under Subsection 11-14-103
(6)that apply to the issuance of a lease revenue bond by a local political subdivision, as defined in Section 11-14-102 .
Amended by Chapter 474 , 2024 General Session