Creation of sinking fund.

  1. Law
  2. Utah Code
  3. Bonds
  4. 1999 Bonding
  5. 1999 Highway General Obligation Bond Authorization
  6. Creation of sinking fund.

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  • (1) There is created a sinking fund, to be administered by the state treasurer, entitled the "1999 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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