Utah Code 17D-4-303. Limits on public infrastructure district property tax levy

17D-4-303. Limits on public infrastructure district property tax levy — Notice requirements.

(1)	The property tax levy of a public infrastructure district, for all purposes, including payment of debt service on limited tax bonds, may not exceed .015 per dollar of taxable value of taxable property in the district.

Board: means the board of trustees of a public infrastructure district. See Utah Code 17D-4-102
Creating entity: means the county, municipality, or development authority that approves the creation of a public infrastructure district. See Utah Code 17D-4-102
Governing document: means the document governing a public infrastructure district to which the creating entity agrees before the creation of the public infrastructure district, as amended from time to time, and subject to the limitations of Title 17B, Chapter 1, Provisions Applicable to All Special Districts, and this chapter. See Utah Code 17D-4-102
Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
Property: includes both real and personal property. See Utah Code 68-3-12.5

(2)	The limitation described in Subsection (1) does not apply to the levy by the public infrastructure district to pay principal of and interest on a general obligation bond that the public infrastructure district issues.

(3)

(a)	Within 30 days after the day on which the lieutenant governor issues a certificate of incorporation under Section 67-1a-6.5, the board shall record a notice with the recorder of the county in which property within the public infrastructure district is located.

(b)

The notice described in Subsection (3)(a) shall:

(i)	contain a description of the boundaries of the public infrastructure district;

(ii)	state that a copy of the governing document is on file at the office of the creating entity;

(iii)

state that the public infrastructure district may finance and repay infrastructure and other improvements through the levy of a property tax; and

(iv)	state the maximum rate that the public infrastructure district may levy.

Renumbered and Amended by Chapter 314, 2021 General Session

LawServer