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2020 Utah Code
Title 11 - Cities, Counties, and Local Taxing Units
Chapter 17 - Utah Industrial Facilities and Development Act
Section 17 - State universities granted same powers as municipalities and counties -- Authority to issue bonds.
Universal Citation: UT Code § 11-17-17 (2020)
Effective 7/1/2020
11-17-17. State universities granted same powers as municipalities and counties -- Authority to issue bonds.
Amended by Chapter 365, 2020 General Session
11-17-17. State universities granted same powers as municipalities and counties -- Authority to issue bonds.
- (1) The Utah Board of Higher Education may, on behalf of the University of Utah and Utah State University exercise all powers granted to municipalities and counties pursuant to this chapter, except as provided in Subsection (2).
- (2) The Utah Board of Higher Education may not issue bonds in excess of $10,000,000 in any one fiscal year under this chapter on behalf of either institution as the borrower without prior approval from the Legislature.
- (3) Refunding bonds are exempt from the requirements of Subsection (2) if:
- (a) the bonds are issued to reduce debt service costs; and
- (b) the refunding bonds mature during the same time frame as the original obligation.
Amended by Chapter 365, 2020 General Session
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