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United States — Utah Act or statute

United States — Utah legislation

Utah Code § 11-17-4

Municipal or county bonds issued under this chapter are limited obligations, not general obligations backed by general credit or taxing power, and that limitation must be stated on the bond face.

Source excerpt

bond issuancebondsmunicipal financenegotiable instrumentssale of bonds
Jurisdiction
United States — Utah
Status
In force
Dates
Legal dates not recorded
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01

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“Municipal or county bonds issued under this chapter are limited obligations, not general obligations backed by general credit or taxing power, and that limitation must be stated on the bond face.”

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Subsection 11-17-4(2)(e)

be payable in such installments and at such time or times as the governing body may deem advisable;

Section 11-17-4(2)(e)

Subsection 11-17-4(2)(i)

be convertible into equity positions in any asset or assets acquired or developed with the proceeds of the sale of the bonds; and

Section 11-17-4(2)(i)

Subsection 11-17-4(4)

All bonds issued under this chapter and all interest coupons applicable thereto shall be construed to be negotiable instruments, despite the fact that they are payable solely from a specified source.

Section 11-17-4(4)

04

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In force source record

Source record from le.utah.gov · Legal dates not recorded

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Showing 15 of 15 provisions

Provision 15
§ 11-17-4Bonds -- Limitations -- Form and provisions -- Sale -- Negotiability.Provision

Source excerpt

Municipal or county bonds issued under this chapter are limited obligations, not general obligations backed by general credit or taxing power, and that limitation must be stated on the bond face.

Bonds -- Limitations -- Form and provisions -- Sale -- Negotiability. All bonds issued by a municipality or county under this chapter shall be limited obligations of the municipality or county. Bonds and interest coupons issued under this chapter may not constitute nor give rise to a general obligation or liability of the municipality or county or a charge against its general credit or taxing powers. Such limitation shall be plainly stated upon the face of such bonds. The bonds referred to in Subsection (1) may be authorized by resolution of the governing body, and may: be executed and delivered at any time and from time to time; be in such form and denominations; be of such tenor; be in registered or bearer form either as to principal or interest or both; be payable in such installments and at such time or times as the governing body may deem advisable; be payable at such place or places either within or without the state of Utah; bear interest at such rate or rates, payable at such place or places, and evidenced in such manner; be redeemable prior to maturity, with or without premium; be convertible into equity positions in any asset or assets acquired or developed with the proceeds of the sale of the bonds; and contain such other provisions not inconsistent with this chapter as shall be deemed for the best interests of the municipality or county and provided for in the proceedings of the governing body under which the bonds shall be authorized to be issued. Any bonds issued under this chapter may be sold at public or private sale in such manner and at such time or times as may be determined by the governing body to be most advantageous. The municipality or county may pay all expenses, premiums, and commissions which the governing body may deem necessary or advantageous in connection with the authorization, sale, and issuance of such bonds from the proceeds of the sale of such bonds or from the revenues of the project or projects. All bonds issued under this chapter and all interest coupons applicable thereto shall be construed to be negotiable instruments, despite the fact that they are payable solely from a specified source.
Section 11-17-4Verify source
§ 11-17-4(1)Subsection 11-17-4(1)Provision

Source excerpt

Municipal or county bonds issued under this chapter are limited obligations, and they do not create a general obligation, liability, or charge against general credit or taxing powers.

All bonds issued by a municipality or county under this chapter shall be limited obligations of the municipality or county. Bonds and interest coupons issued under this chapter may not constitute nor give rise to a general obligation or liability of the municipality or county or a charge against its general credit or taxing powers. Such limitation shall be plainly stated upon the face of such bonds.
Section 11-17-4(1)Verify source
§ 11-17-4(2)Subsection 11-17-4(2)Provision

Source excerpt

The governing body may authorize the bonds by resolution, and the bonds may be issued in several forms and payment arrangements.

The bonds referred to in Subsection (1) may be authorized by resolution of the governing body, and may: be executed and delivered at any time and from time to time; be in such form and denominations; be of such tenor; be in registered or bearer form either as to principal or interest or both; be payable in such installments and at such time or times as the governing body may deem advisable; be payable at such place or places either within or without the state of Utah; bear interest at such rate or rates, payable at such place or places, and evidenced in such manner; be redeemable prior to maturity, with or without premium; be convertible into equity positions in any asset or assets acquired or developed with the proceeds of the sale of the bonds; and contain such other provisions not inconsistent with this chapter as shall be deemed for the best interests of the municipality or county and provided for in the proceedings of the governing body under which the bonds shall be authorized to be issued.
Section 11-17-4(2)Verify source
§ 11-17-4(2)(a)Subsection 11-17-4(2)(a)Provision

Source excerpt

be executed and delivered at any time and from time to time;

be executed and delivered at any time and from time to time;
Section 11-17-4(2)(a)Verify source
§ 11-17-4(2)(b)Subsection 11-17-4(2)(b)Provision

Source excerpt

be in such form and denominations;

be in such form and denominations;
Section 11-17-4(2)(b)Verify source
§ 11-17-4(2)(c)Subsection 11-17-4(2)(c)Provision

Source excerpt

be of such tenor;

be of such tenor;
Section 11-17-4(2)(c)Verify source
§ 11-17-4(2)(d)Subsection 11-17-4(2)(d)Provision

Source excerpt

be in registered or bearer form either as to principal or interest or both;

be in registered or bearer form either as to principal or interest or both;
Section 11-17-4(2)(d)Verify source
§ 11-17-4(2)(e)Subsection 11-17-4(2)(e)Provision

Source excerpt

be payable in such installments and at such time or times as the governing body may deem advisable;

be payable in such installments and at such time or times as the governing body may deem advisable;
Section 11-17-4(2)(e)Verify source
§ 11-17-4(2)(f)Subsection 11-17-4(2)(f)Provision

Source excerpt

be payable at such place or places either within or without the state of Utah;

be payable at such place or places either within or without the state of Utah;
Section 11-17-4(2)(f)Verify source
§ 11-17-4(2)(g)Subsection 11-17-4(2)(g)Provision

Source excerpt

bear interest at such rate or rates, payable at such place or places, and evidenced in such manner;

bear interest at such rate or rates, payable at such place or places, and evidenced in such manner;
Section 11-17-4(2)(g)Verify source
§ 11-17-4(2)(h)Subsection 11-17-4(2)(h)Provision

Source excerpt

be redeemable prior to maturity, with or without premium;

be redeemable prior to maturity, with or without premium;
Section 11-17-4(2)(h)Verify source
§ 11-17-4(2)(i)Subsection 11-17-4(2)(i)Provision

Source excerpt

be convertible into equity positions in any asset or assets acquired or developed with the proceeds of the sale of the bonds; and

be convertible into equity positions in any asset or assets acquired or developed with the proceeds of the sale of the bonds; and
Section 11-17-4(2)(i)Verify source
§ 11-17-4(2)(j)Subsection 11-17-4(2)(j)Provision

Source excerpt

The governing body must include in the bond proceedings any additional provisions it deems in the best interests of the municipality or county, as long as they are not inconsistent with the chapter.

contain such other provisions not inconsistent with this chapter as shall be deemed for the best interests of the municipality or county and provided for in the proceedings of the governing body under which the bonds shall be authorized to be issued.
Section 11-17-4(2)(j)Verify source
§ 11-17-4(3)Subsection 11-17-4(3)Provision

Source excerpt

Bonds issued under this chapter may be sold at public or private sale on terms and timing the governing body determines to be most advantageous. The municipality or county may also pay related expenses, premiums, and commissions from bond-sale proceeds or project revenues.

Any bonds issued under this chapter may be sold at public or private sale in such manner and at such time or times as may be determined by the governing body to be most advantageous. The municipality or county may pay all expenses, premiums, and commissions which the governing body may deem necessary or advantageous in connection with the authorization, sale, and issuance of such bonds from the proceeds of the sale of such bonds or from the revenues of the project or projects.
Section 11-17-4(3)Verify source
§ 11-17-4(4)Subsection 11-17-4(4)Provision

Source excerpt

All bonds issued under this chapter and all interest coupons applicable thereto shall be construed to be negotiable instruments, despite the fact that they are payable solely from a specified source.

All bonds issued under this chapter and all interest coupons applicable thereto shall be construed to be negotiable instruments, despite the fact that they are payable solely from a specified source.
Section 11-17-4(4)Verify source

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