PocketLaw | Utah Code | Highway General Obligation Bonds

Highway General Obligation Bonds

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State Bonding Commission authorized to issue general obligation bonds.

Maximum amount -- Projects authorized.

Bond proceeds may be used to pay costs of issuance and sale.

Manner of issuance -- Amounts, interest, and maturity.

Terms and conditions of sale -- Plan of financing -- Signatures -- Replacement -- Registration -- Federal rebate.

Constitutional debt limitation.

Tax levy -- Abatement of tax.

Creation of sinking fund.

Payment of interest, principal, and redemption premiums.

Investment of sinking fund money.

Bond proceeds -- Deposits -- Investment -- Disposition of investment income and unexpended proceeds.

Refunding of bonds.

Certification of satisfaction of conditions precedent -- Conclusiveness.

Tax exemption.

Legal investment status.

Publication of resolution or notice -- Limitation on actions to contest legality.

Report to Legislature.