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Code · Utah · Title 63B — Bonds · Chapter 3

63B-3-110. Investment of sinking fund money.

107 words·~1 min read·/ut/title-63b/chapter-3/63b-3-110

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63B-3-110. Investment of sinking fund money.
(1)The state treasurer may, by following the procedures and requirements of Title 51, Chapter 7, State Money Management Act , invest any money contained in the sinking fund until it is needed for the purposes for which the fund is created.
(2)Unless otherwise provided in the resolution of the commission authorizing the issuance of bonds under this chapter, the treasurer shall retain all income from the investment of any money contained in the sinking fund in the sinking fund and use it for the payment of debt service on the bonds.
Enacted by Chapter 300 , 1994 General Session
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