(1)  The legislative body of any county may establish and maintain, by ordinance, a cumulative reserve fund to be accumulated by levy for the purpose of financing the purchase of real property and the cost of planning, constructing or rehabilitating public buildings or other public works and capital improvements.

Terms Used In Utah Code 17-36-46

  • County legislative body: means :Utah Code 68-3-12.5
  • Fund: means an independent fiscal and accounting entity comprised of a sum of money or other resources segregated for a specific purpose or objective. See Utah Code 17-36-3
  • Legislative: when used to describe the powers, duties, or functions of a county commission or council, refers to:
(a) the power and duty to enact ordinances, levy taxes, and establish budgets; and
(b) those powers, duties, and functions that, under constitutional and statutory provisions and through long usage and accepted practice and custom at the federal and state level, have come to be regarded as belonging to the legislative branch of government. See Utah Code 17-50-101
(2) 

(a)  Before a reserve fund under Subsection (1) may be established, the county legislative body shall designate by ordinance the specific purpose for which the fund is established.

(b)  Except as provided in Section 17-36-50, all funds in a reserve fund under Subsection (1) shall be expended for the designated purposes.

Renumbered and Amended by Chapter 133, 2000 General Session

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