Public-domain · open source
OpenJurist

Utah Code § 63B-11-108

Creation of sinking fund

Enacted by Chapter 199, 2002 General Session

(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 money 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.

Official source: Utah State Legislature. Reproduced from public-domain Utah statutes; confirm against the official source for the current text. Not legal advice.