2006 Utah Code - 17A-2-1312 — General obligation bonds authorized by petition of property owners -- Contest.

     17A-2-1312.   General obligation bonds authorized by petition of property owners -- Contest.
     (1) With respect to any service district established under this part, if there is no individual residing in the service district, such that compliance with the election requirements of the Utah Constitution and Section 11-14-201 is otherwise impossible, then, 75% of the owners of real property located in the district, as shown on the most recent assessment roll of the county or municipality, as the case may be, may by written petition require the governing body of the county or municipality which established the service district to issue general obligation bonds pledging the full faith and credit of the district in an amount which may lawfully be issued by the district but not to exceed the amount set forth in the petition. Except for the election provisions of Title 11, Chapter 14, Local Government Bonding Act, the bonds required to be issued shall be issued in accordance with Title 11, Chapter 14, Local Government Bonding Act. Any such petition to require issuance of bonds shall be equivalent to and have the same force and effect as an election approving the issuance of the bonds by a majority of the qualified electors of the district.
     (2) Upon receiving the petition described in Subsection (1), the governing body of the county or municipality which established the district shall proceed to issue the bonds in accordance with Title 11, Chapter 14, Local Government Bonding Act.
     (3) The determination by the governing body that 75% of the owners of real property located in the district have duly filed a written petition requiring the issuance of bonds as provided in Subsection (1), shall be conclusive in any action or proceeding involving the validity of the petition or the district's authority to issue the bonds instituted after the expiration of the period provided in Subsection (4), for the filing of actions contesting the validity of the bonds and after the date of delivery of and payment for any part of the bonds.
     (4) When the validity of any bond issue under this section is contested, the plaintiff or plaintiffs shall, within 40 days after the validity of the petition has been declared by the governing body, file with the clerk of the district court of the county in which the district is located, a verified written complaint setting forth specifically:
     (a) the name of the party contesting the issuance of the bonds, and that he is an owner of property within the district; and
     (b) the grounds of such contest. No such contest may be maintained and the issuance of the bonds may not be set aside or held invalid unless such a complaint is filed within the period prescribed in this section.

Amended by Chapter 105, 2005 General Session