Utah Code 53B-13-108. Bonds and interest exempt from taxation except corporate franchise tax
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Terms Used In Utah Code 53B-13-108
- Bonds: means the bonds authorized to be issued by the board under this chapter, and may consist of bonds, notes, or debt obligations evidencing an obligation to repay borrowed money and payable solely from revenues and other money of the board pledged for repayment. See Utah Code 53B-13-102
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
The bonds issued under this chapter and the interest on the bonds are exempt from all taxation in this state, except for the corporate franchise tax.
Enacted by Chapter 167, 1987 General Session