Dissolution of authority -- Restrictions -- Publishing notice of dissolution -- Authority records -- Dissolution expenses.

1. Law
2. Utah Code
3. Cities, Counties, and Local Taxing Units
4. Point of the Mountain State Land Authority Act
5. Authority Dissolution
6. Dissolution of authority -- Restrictions -- Publishing notice of dissolution -- Authority records -- Dissolution expenses.

Affected by 63I-1-211 on 1/1/2029

Effective 7/1/2021
11-59-501. Dissolution of authority -- Restrictions -- Publishing notice of dissolution -- Authority records -- Dissolution expenses.

• (1) The authority may not be dissolved unless:
  • (a) the authority board first receives approval from the Legislative Management Committee of the Legislature to dissolve the authority; and
  • (b) the authority has no outstanding bonded indebtedness, other unpaid loans, indebtedness, or advances, and no legally binding contractual obligations with persons or entities other than the state.

• (2) To dissolve the authority, the board shall:
  • (a) obtain the approval of the Legislative Management Committee of the Legislature; and
  • (b) adopt a resolution dissolving the authority, to become effective as provided in the resolution.

• (3) Upon the dissolution of the authority:
  • (a) the Governor's Office of Economic Opportunity shall publish a notice of dissolution:
    • (i) in a newspaper of general circulation in the county in which the dissolved authority is located; and
    • (ii) as required in Section 45-1-101; and
  • (b) all title to property owned by the authority vests in the Division of Facilities Construction and Management, created in Section 63A-5b-301, for the benefit of the state.

• (4) The board shall deposit all books, documents, records, papers, and seal of the dissolved authority with the state auditor for safekeeping and reference.

• (5) The authority shall pay all expenses of the deactivation and dissolution.

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