The treasurer of each local entity that collects interest from the investment of an assessment fund or that receives penalties, costs, and other amounts for the benefit and credit of an assessment that remain after all local entity obligations are paid in full and cancelled shall transfer the remaining amount to:

(1)	the guaranty fund, if required by bond covenants; or

(a)	a county, city, town, special service district, or special district;

(b)	an interlocal entity as defined in Section 11-13-103;

(c)	the military installation development authority, created in Section 63H-1-201;

(d)	a public infrastructure district under Title 17D, Chapter 4, Public Infrastructure District Act, including a public infrastructure district created by a development authority;

(e)	the Utah Inland Port Authority, created in Section 11-58-201; or

(f)	any other political subdivision of the state. See Utah Code 11-42-102 Local entity obligations: means assessment bonds, refunding assessment bonds, interim warrants, and bond anticipation notes issued by a local entity. See Utah Code 11-42-102
(2)	the local entity’s general fund.

Enacted by Chapter 329, 2007 General Session