Default under a lease agreement.

  1. Law
  2. Utah Code
  3. Limited Purpose Local Government Entities - Other Entities
  4. Local Building Authority Act
  5. Local Building Authority Lease Agreements
  6. Default under a lease agreement.

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  • (1) the local entity shall immediately quit and vacate the project;
  • (2) the local entity's lease payment obligation under the lease agreement terminates; and
  • (3) the local building authority may immediately lease the project according to the provisions of:
    • (a) the proceeding under which bonds to fund the project were authorized; and
    • (b) any mortgage given to secure the bonds.




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