2006 Utah Code - 17A-3-338 — Assessments on property acquired by municipality at final tax sale paid from guaranty fund or reserve fund -- Reimbursement.

     17A-3-338.   Assessments on property acquired by municipality at final tax sale paid from guaranty fund or reserve fund -- Reimbursement.
     If any property is sold to the municipality at final tax sale conducted to collect delinquent property taxes or delinquent assessments levied under this part, the municipality shall, for as long as the municipality retains ownership of the property so sold, pay all annual assessment installments that become due, including the interest on them. The payments shall be made out of the guaranty fund or reserve fund, as applicable, and paid into the special improvement district fund of the district where the property is located. If the municipality sells the property it has received from final tax sale by installments or otherwise, the purchase price for it shall not be less than an amount sufficient to reimburse the guaranty fund or reserve fund, as applicable, for all amounts paid out of the fund on behalf of this property for delinquent assessments or parts or installments of them, plus interest, penalties, and costs. The sales price of the property and any interest on it paid in installments shall be paid into the guaranty fund or reserve fund, as applicable, to the extent of the full reimbursement as required in this section. This section shall be read and interpreted in conjunction with Sections 17A-3-324 and 17A-3-325.

Renumbered and Amended by Chapter 186, 1990 General Session