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Code · Utah · Title 53G — Public Education System -- Local Administration · Chapter 4

53G-4-606. Sinking fund -- Investment.

85 words·~1 min read·/ut/title-53g/chapter-4/53g-4-606

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Effective 5/14/2019
53G-4-606. Sinking fund -- Investment.
(1)The money levied and collected to create a sinking fund for the redemption of bonds issued by a local school board shall be immediately credited to a special fund.
(2)After retaining an amount sufficient to pay the principal of the bonds maturing during the year, the local school board shall invest the fund and any surplus as provided under Title 51, Chapter 7, State Money Management Act .
Amended by Chapter 293 , 2019 General Session
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