Utah Code 53G-5-604. Limited obligations
Current as of: 2024 | Check for updates
|
Other versions
Except as provided in Section 53G-5-607, 53G-5-608, or 53G-5-609, bonds, notes, and other obligations issued by the authority:
(1) do not constitute a debt, moral obligation, or liability of the state, or of any county, city, town, school district, or any other political subdivision of the state;
Terms Used In Utah Code 53G-5-604
- Authority: means the Utah Charter School Finance Authority created by this part. See Utah Code 53G-5-601
- Charter school: means a school created under this chapter. See Utah Code 53G-5-601
- City: includes , depending on population, a metro township as defined in Section
10-3c-102 . See Utah Code 68-3-12.5 - Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
- Town: includes , depending on population, a metro township as defined in Section
10-3c-102 . See Utah Code 68-3-12.5
(2) do not constitute the loan of credit of the state or of any county, city, town, school district, or any other political subdivision of the state; and
(3) may not be paid from funds other than loan payments or lease revenues received from a charter school or other funds pledged by a charter school.