Utah Code 72-2-114. Transfer of money — Debt service
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(1) When there are insufficient appropriations or money available from other legal sources to pay interest on any bond anticipation notes issued under the authority of Title 63B, Chapter 6, Part 3, 1997 Highway Bond Anticipation Note Authorization , the Division of Finance shall inform the department of the amount necessary to pay that interest.
Terms Used In Utah Code 72-2-114
- Department: means the Department of Transportation created in Section 72-1-201. See Utah Code 72-1-102
- Highway: means any public road, street, alley, lane, court, place, viaduct, tunnel, culvert, bridge, or structure laid out or erected for public use, or dedicated or abandoned to the public, or made public in an action for the partition of real property, including the entire area within the right-of-way. See Utah Code 72-1-102
(2) After receiving notice under Subsection (1) , the department shall transfer money from any available source other than the Transportation Fund to the Division of Finance for deposit into the Debt Service Fund to pay interest on bond anticipation notes issued under the authority of Title 63B, Chapter 6, Part 3, 1997 Highway Bond Anticipation Note Authorization .