2006 Utah Code - 17A-2-755 — Districts declared bodies corporate -- Tax exemption of bonds and securities except corporate franchise tax.

     17A-2-755.   Districts declared bodies corporate -- Tax exemption of bonds and securities except corporate franchise tax.
     (1) Irrigation districts organized under this part and all irrigation districts heretofore organized under the laws of this state are hereby declared to be bodies corporate and politic, and the bonds and other securities of such corporations are exempt from taxation within this state, except for the corporate franchise tax.
     (2) No district created under this part is a municipal corporation within the meaning of Article XIV, Section 4, Utah Constitution, or a political subdivision of any county or municipality.

Amended by Chapter 285, 2002 General Session