United States — Utah Act or statute

United States — Utah legislation

Utah Code § 11-14-316

Source excerpt

bond issuancelegal contestlocal governmentmunicipal disclosurepublic noticepublic notices

Jurisdiction: United States — Utah
Status: In force
Dates: Legal dates not recorded

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“Publication of notice, resolution, or other proceeding -- Contest. The governing body of any local political subdivision may provide for the publication of any resolution or other proceeding adopted under this chapter: for the local”

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Publication of notice, resolution, or other proceeding -- Contest.

Section 11-14-316

Subsection 11-14-316(2)(b)

the purpose of the issue;

Section 11-14-316(2)(b)

Subsection 11-14-316(2)(h)

the total par amount of bonds currently outstanding that are secured by the same pledge of revenues as the proposed bonds, if any;

Section 11-14-316(2)(h)

Subsection 11-14-316(2)(k)(ii)

A notice period must last at least 30 days after the notice is published.

Section 11-14-316(2)(k)(ii)

Subsection 11-14-316(5)

After 30 days, a person may not contest the resolution or proceeding’s regularity, formality, or legality.

Section 11-14-316(5)

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Showing 24 of 24 provisions

Provision 24

Part 11-14-3

part 11-14-3 Issuance of Bonds

§ 11-14-316Publication of notice, resolution, or other proceeding -- Contest.Provision

Source excerpt

Publication of notice, resolution, or other proceeding -- Contest. The governing body of any local political subdivision may provide for the publication of any resolution or other proceeding adopted under this chapter: for the local political subdivision, as a class A notice under Section 63G-30-102 , for at least 30 days; and as required in Section 45-1-101 . When a resolution or other proceeding provides for the issuance of bonds, the governing body may, in lieu of publishing the entire resolution or other proceeding, publish a notice of bonds to be issued, titled as such, containing: the name of the issuer; the purpose of the issue; the type of bonds and the maximum principal amount which may be issued; the maximum number of years over which the bonds may mature; the maximum interest rate which the bonds may bear, if any; the maximum discount from par, expressed as a percentage of principal amount, at which the bonds may be sold; a general description of the security pledged for repayment of the bonds; the total par amount of bonds currently outstanding that are secured by the same pledge of revenues as the proposed bonds, if any; information on a method by which an individual may obtain access to more detailed information relating to the outstanding bonds of the local political subdivision; the estimated total cost to the local political subdivision for the proposed bonds if the bonds are held until maturity, based on interest rates in effect at the time that the local political subdivision publishes the notice; and the times and place where a copy of the resolution or other proceeding may be examined, which shall be: at an office of the issuer identified in the notice, during regular business hours of the issuer as described in the notice; and for a period of at least 30 days after the publication of the notice. For a period of 30 days after the publication, any person in interest may contest: the legality of such resolution or proceeding; any bonds which may be authorized by such resolution or proceeding; or any provisions made for the security and payment of the bonds. A person shall contest the matters set forth in Subsection (3) by filing a verified written complaint in the district court of the county in which he resides within the 30-day period. After the 30-day period, no person may contest the regularity, formality, or legality of the resolution or proceeding for any reason.

Section 11-14-316Verify source

§ 11-14-316(1)Subsection 11-14-316(1)Provision

Source excerpt

A local political subdivision’s governing body may choose to publish a resolution or other proceeding adopted under this chapter.

The governing body of any local political subdivision may provide for the publication of any resolution or other proceeding adopted under this chapter: for the local political subdivision, as a class A notice under Section 63G-30-102 , for at least 30 days; and as required in Section 45-1-101 .

Section 11-14-316(1)Verify source

§ 11-14-316(1)(a)Subsection 11-14-316(1)(a)Provision

Source excerpt

A notice for the local political subdivision must be given as a class A notice under Section 63G-30-102 for at least 30 days.

for the local political subdivision, as a class A notice under Section 63G-30-102 , for at least 30 days; and

Section 11-14-316(1)(a)Verify source

§ 11-14-316(1)(b)Subsection 11-14-316(1)(b)Provision

Source excerpt

as required in Section 45-1-101 .

Section 11-14-316(1)(b)Verify source

§ 11-14-316(2)Subsection 11-14-316(2)Provision

Source excerpt

If a bond issue is proposed, the governing body may publish a notice of bonds to be issued instead of publishing the full resolution or proceeding.

When a resolution or other proceeding provides for the issuance of bonds, the governing body may, in lieu of publishing the entire resolution or other proceeding, publish a notice of bonds to be issued, titled as such, containing: the name of the issuer; the purpose of the issue; the type of bonds and the maximum principal amount which may be issued; the maximum number of years over which the bonds may mature; the maximum interest rate which the bonds may bear, if any; the maximum discount from par, expressed as a percentage of principal amount, at which the bonds may be sold; a general description of the security pledged for repayment of the bonds; the total par amount of bonds currently outstanding that are secured by the same pledge of revenues as the proposed bonds, if any; information on a method by which an individual may obtain access to more detailed information relating to the outstanding bonds of the local political subdivision; the estimated total cost to the local political subdivision for the proposed bonds if the bonds are held until maturity, based on interest rates in effect at the time that the local political subdivision publishes the notice; and the times and place where a copy of the resolution or other proceeding may be examined, which shall be: at an office of the issuer identified in the notice, during regular business hours of the issuer as described in the notice; and for a period of at least 30 days after the publication of the notice.

Section 11-14-316(2)Verify source

§ 11-14-316(2)(a)Subsection 11-14-316(2)(a)Provision

Source excerpt

the name of the issuer;

Section 11-14-316(2)(a)Verify source

§ 11-14-316(2)(b)Subsection 11-14-316(2)(b)Provision

Source excerpt

the purpose of the issue;

Section 11-14-316(2)(b)Verify source

§ 11-14-316(2)(c)Subsection 11-14-316(2)(c)Provision

Source excerpt

The provision refers to the type of bonds and the maximum principal amount that may be issued.

the type of bonds and the maximum principal amount which may be issued;

Section 11-14-316(2)(c)Verify source

§ 11-14-316(2)(d)Subsection 11-14-316(2)(d)Provision

Source excerpt

the maximum number of years over which the bonds may mature;

Section 11-14-316(2)(d)Verify source

§ 11-14-316(2)(e)Subsection 11-14-316(2)(e)Provision

Source excerpt

The bonds may bear the maximum interest rate, if any.

the maximum interest rate which the bonds may bear, if any;

Section 11-14-316(2)(e)Verify source

§ 11-14-316(2)(f)Subsection 11-14-316(2)(f)Provision

Source excerpt

The bonds may be sold at a maximum discount from par, stated as a percentage of principal amount.

the maximum discount from par, expressed as a percentage of principal amount, at which the bonds may be sold;

Section 11-14-316(2)(f)Verify source

§ 11-14-316(2)(g)Subsection 11-14-316(2)(g)Provision

Source excerpt

a general description of the security pledged for repayment of the bonds;

Section 11-14-316(2)(g)Verify source

§ 11-14-316(2)(h)Subsection 11-14-316(2)(h)Provision

Source excerpt

the total par amount of bonds currently outstanding that are secured by the same pledge of revenues as the proposed bonds, if any;

Section 11-14-316(2)(h)Verify source

§ 11-14-316(2)(i)Subsection 11-14-316(2)(i)Provision

Source excerpt

Provides a method for an individual to obtain more detailed information about the outstanding bonds of the local political subdivision.

information on a method by which an individual may obtain access to more detailed information relating to the outstanding bonds of the local political subdivision;

Section 11-14-316(2)(i)Verify source

§ 11-14-316(2)(j)Subsection 11-14-316(2)(j)Provision

Source excerpt

the estimated total cost to the local political subdivision for the proposed bonds if the bonds are held until maturity, based on interest rates in effect at the time that the local political subdivision publishes the notice; and

Section 11-14-316(2)(j)Verify source

§ 11-14-316(2)(k)Subsection 11-14-316(2)(k)Provision

Source excerpt

A copy of the resolution or other proceeding may be examined at the issuer’s office named in the notice, during the issuer’s regular business hours, for at least 30 days after the notice is published.

the times and place where a copy of the resolution or other proceeding may be examined, which shall be: at an office of the issuer identified in the notice, during regular business hours of the issuer as described in the notice; and for a period of at least 30 days after the publication of the notice.

Section 11-14-316(2)(k)Verify source

§ 11-14-316(2)(k)(i)Subsection 11-14-316(2)(k)(i)Provision

Source excerpt

at an office of the issuer identified in the notice, during regular business hours of the issuer as described in the notice; and

Section 11-14-316(2)(k)(i)Verify source

§ 11-14-316(2)(k)(ii)Subsection 11-14-316(2)(k)(ii)Provision

Source excerpt

A notice period must last at least 30 days after the notice is published.

for a period of at least 30 days after the publication of the notice.

Section 11-14-316(2)(k)(ii)Verify source

§ 11-14-316(3)Subsection 11-14-316(3)Provision

Source excerpt

For 30 days after publication, any person in interest may contest the legality of the resolution or proceeding, any authorized bonds, or provisions securing and paying the bonds.

For a period of 30 days after the publication, any person in interest may contest: the legality of such resolution or proceeding; any bonds which may be authorized by such resolution or proceeding; or any provisions made for the security and payment of the bonds.

Section 11-14-316(3)Verify source

§ 11-14-316(3)(a)Subsection 11-14-316(3)(a)Provision

Source excerpt

the legality of such resolution or proceeding;

Section 11-14-316(3)(a)Verify source

§ 11-14-316(3)(b)Subsection 11-14-316(3)(b)Provision

Source excerpt

any bonds which may be authorized by such resolution or proceeding; or

Section 11-14-316(3)(b)Verify source

§ 11-14-316(3)(c)Subsection 11-14-316(3)(c)Provision

Source excerpt

any provisions made for the security and payment of the bonds.

Section 11-14-316(3)(c)Verify source

§ 11-14-316(4)Subsection 11-14-316(4)Provision

Source excerpt

A person shall contest the matters set forth in Subsection (3) by filing a verified written complaint in the district court of the county in which he resides within the 30-day period.

Section 11-14-316(4)Verify source

§ 11-14-316(5)Subsection 11-14-316(5)Provision

Source excerpt

After 30 days, a person may not contest the resolution or proceeding’s regularity, formality, or legality.

After the 30-day period, no person may contest the regularity, formality, or legality of the resolution or proceeding for any reason.

Section 11-14-316(5)Verify source

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Utah Code § 11-14-316

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