Upon the dissolution of a local building authority:
| (1) |
title to all of the local building authority’s projects vest in the creating local entity; and |
Terms Used In Utah Code 17D-2-702
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Creating local entity: means the local entity that creates or created the local building authority. See Utah Code 17D-2-102
- Local entity: means a county, city, town, school district, special district, or special service district. See Utah Code 17D-2-102
| (2) |
all assets and net earnings of the local building authority remaining after the payment or providing for the payment of all local building authority bonds and other obligations shall be transferred to the creating local entity. |
Enacted by Chapter 360, 2008 General Session
