Creation of sinking fund.
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Law
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Utah Code
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Bonds
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2001 Bonding
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2001 Highway General Obligation Bonds
- Creation of sinking fund.
- (1) There is created a sinking fund, to be administered by the state treasurer, entitled the "2001 Highway General Obligation Bonds Sinking Fund."
- (2) All money deposited in the sinking fund, from whatever source, shall be used to pay debt service on the bonds.
- (3) The proceeds of all taxes levied under this chapter are appropriated to this fund.
- (4) The state treasurer may create separate accounts within the sinking fund for each series of bonds issued.
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