2006 Utah Code - 17A-2-834 — Rate of taxation.

     17A-2-834.   Rate of taxation.
     Before June 22 of each year, the board of trustees of the district shall, by resolution, determine the amount of money necessary to be raised by taxation and shall fix the rate of taxation of the areas of each separate city within the district, designating the levy on taxable value of taxable property in each of the areas in each county and shall levy a tax accordingly:
     (1) sufficient to meet interest and sinking fund requirements on, and/or any payment to principal of, outstanding bonded and other indebtedness of the district; and sufficient to meet the payment of the principal and interest on any refunding bonds, or on any bonds the issuance of which may have been authorized as provided in this part, and which bonds have not been sold but which, in the judgment of the board of trustees, will be sold prior to the time when money will be available from the next subsequent tax levy, and in case the bonds are not so issued and sold or the tax for any other reason is not required for that purpose, the tax levied shall be applied to the payment of interest and/or principal on any refunding bonds, or on any bonds authorized as provided in this part, then outstanding or subsequently issued and/or sold, or on any contract or other indebtedness; and
     (2) for all other district purposes.

Amended by Chapter 254, 2000 General Session