Utah Code 11-42a-403. Refunding assessment bonds
Current as of: 2023 | Check for updates
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11-42a-403. Refunding assessment bonds.
(1) | A local entity may, by a resolution adopted by the governing body, authorize the issuance of a refunding assessment bond as provided in this section, to repay prior bonds in whole or in part, whether at or before the maturity of the prior bonds, at stated maturity, upon redemption, or upon declaration of maturity. |
(2) |
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(3) | In issuing a refunding assessment bond, the local entity shall require the refunding assessment bond and interest on the bond to be payable from and secured, to the extent the prior bonds were payable from and secured, by:
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(4) | A refunding assessment bond:
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(5) | If the bond refunds two or more issues of a local entity’s prior bonds, the local entity may issue the bond in one or more series. |
Enacted by Chapter 470, 2017 General Session