2006 Utah Code - 17A-3-915 — Publication of notice of proceedings -- Contest of proceedings.

     17A-3-915.   Publication of notice of proceedings -- Contest of proceedings.
     (1) The governing body of any public body, or the board of trustees of any building authority, may provide for the publication of any resolution or other proceeding adopted by it under this part in a newspaper having general circulation in the public body.
     (2) In case of a resolution or other proceeding providing for the issuance of bonds, the board of trustees of a building authority may, in lieu of publishing the entire resolution or other proceeding, publish a notice of bonds to be issued, titled as such, containing:
     (a) the name of the building authority;
     (b) the purposes of the issue;
     (c) the maximum principal amount which may be issued;
     (d) the maximum number of years over which the bonds may mature;
     (e) the maximum interest rate which the bonds may bear;
     (f) the maximum discount from par, expressed as a percentage of principal amount, at which the bonds may be sold, and any deposit to be required in connection with the sale; and
     (g) the time and place where a copy of the resolution or other proceedings authorizing the issuance of the bonds may be examined, which shall be at an office of the building authority, identified in the notice, during regular business hours of the building authority as described in the notice and for a period of at least 30 days after the publication of the notice.
     (3) For a period of 30 days after the publication, any person in interest shall have the right to contest the legality of the resolution or proceeding or any bonds or leasing contract which may be authorized by them or any provisions made for the security and payment of the bonds or for the security and payment of the leasing contract; and after such time no one shall have any cause of action to contest the regularity, formality, or legality of same for any cause whatsoever.

Renumbered and Amended by Chapter 186, 1990 General Session