11-13-218.1.  Pledge of revenues to pay for bonds.

(1)  In addition to any assignment, pledge, or conveyance made in accordance with Subsection 11-13-204(1)(a)(ii)(G), bonds issued by an interlocal entity may be payable from and secured by the pledge of all or any specified part of:

Terms Used In Utah Code 11-13-218.1

  • Interlocal entity: means :
(a) a Utah interlocal entity, an electric interlocal entity, or an energy services interlocal entity; or
(b) a separate legal or administrative entity created under Section 11-13-205. See Utah Code 11-13-103
  • 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
  • (a)  the revenues to be derived by the interlocal entity from providing the entity’s services and from the operation of the entity’s facilities and other properties;

    (b)  sales and use taxes, property taxes, and other taxes;

    (c)  federal, state, or local grants; or

    (d)  other funds legally available to the interlocal entity.

    (2)  An assignment, pledge, or conveyance made by an interlocal entity to secure bonds shall be created and perfected in accordance with, and have the effect provided in, Section 11-14-501.

    Enacted by Chapter 265, 2015 General Session