2006 Utah Code - 17A-3-235 — Special improvement fund insufficient to pay bonds.

     17A-3-235.   Special improvement fund insufficient to pay bonds.
     When any special improvement bond or interim warrant drawn against any special improvement fund is presented to the governing entity for payment and there is not a sufficient amount in the special improvement fund to pay the bond and any interest or penalties on it, payment shall be made directly from the special improvement guaranty fund or reserve fund, as applicable. If there are insufficient moneys on deposit in the special improvement guaranty fund or reserve fund to make this payment, payment shall be made by warrant drawn against the special improvement guaranty fund or reserve fund, as applicable.

Amended by Chapter 214, 1990 General Session
Renumbered and Amended by Chapter 186, 1990 General Session