2006 Utah Code - 63B-11-108 — Creation of sinking fund.

     63B-11-108.   Creation of sinking fund.
     (1) There is created a sinking fund, to be administered by the state treasurer, entitled the "2002 Capital Facilities General Obligation Bonds Sinking Fund."
     (2) All monies deposited in the sinking fund, from whatever source, shall be used to pay debt service on the bonds.
     (3) The proceeds of all taxes levied under this chapter are appropriated to this fund.
     (4) The state treasurer may create separate accounts within the sinking fund for each series of bonds issued.

Enacted by Chapter 199, 2002 General Session