authority: means a public body corporate and politic created by this part. See Utah Code 35A-8-401
Federal government: includes the United States of America, the Department of Housing and Urban Development, or any other agency or instrumentality, corporate or otherwise, of the United States. See Utah Code 35A-8-401
Lien: A claim against real or personal property in satisfaction of a debt.
obligee: includes a bondholder, agent or trustee for a bondholder, a lessor demising to the authority used in connection with a project, an assignee or assignees of the lessor's interest in whole or in part, and the federal government when it is a party to a contract with the authority. See Utah Code 35A-8-401
Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5
project: means a work or undertaking, on contiguous or noncontiguous sites to:
(i)
demolish, clear, or remove buildings from a blighted area;
(ii)
provide or assist in providing decent, safe, and sanitary urban or rural dwellings, apartments, or other living accommodations for persons of medium and low income by any suitable methods, including rental, sale of individual units in single or multifamily structures under conventional condominium, cooperative sales contract, lease-purchase agreement, loans, or subsidizing of rentals or charges; or
Property, including money, acquired or held by an authority under this part shall be exempt from levy and sale by virtue of an execution.
(b)
An execution or other judicial process may not issue against the property.
(c)
A judgment against the authority is not a charge or lien upon the property.
(2)
This section does not apply to or limit the right of an obligee to pursue a remedy for the enforcement of a pledge or lien given by the authority on its rents, fees, or revenues or the right of the federal government to pursue a remedy conferred upon it under this part.
(3)
An authority may waive its exemption with respect to claims against a profit-making enterprise occupying a portion of a project if that waiver does not affect or impair the rights of any obligee of the authority.
Renumbered and Amended by Chapter 212, 2012 General Session
