2006 Utah Code - 17A-2-1427 — Additional taxes and assessments to pay deficiencies.

     17A-2-1427.   Additional taxes and assessments to pay deficiencies.
     The board in making the annual assessments and levies as provided in this part shall take into account the maturing indebtedness for the ensuing year as provided in its contracts, the maturing of the principal of and interest on all bonds payable in whole or in part from the proceeds of assessments and taxes levied under this part, deficiencies and defaults of prior years, and shall make ample provision for payment. If the proceeds of the levies and assessments made under this part, together with other revenues of the district, are not sufficient to punctually pay the annual installments on these contracts and bonds and any interest, and to pay defaults and deficiencies, then the board shall make additional levies of taxes and assessments necessary for those purposes. Notwithstanding any limitations by contract, order, tax lien, or otherwise, the taxes and assessments shall be made and continue until these contracts and bonds of the district are fully paid; but the amount of these additional levies of taxes under class A may not in any one year exceed an amount that would be raised by a levy of .0001 per dollar of taxable value of taxable property as fixed for general tax purposes.

Renumbered and Amended by Chapter 186, 1990 General Session