UTAH CODE (Last Updated: January 16, 2015) |
Title 11. Cities, Counties, and Local Taxing Units |
Chapter 14. Local Government Bonding Act |
Part 3. Issuance of Bonds |
§ 11-14-317. Bonds as legal investments -- Use as security for the faithful performance of acts.
Latest version.
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(2) If funds may by law be invested in or loaned upon the security of bonds of a county, city, or school district, funds may be invested in or loaned upon the security of the bonds of any other local political subdivision. (3) If bonds of a county, city, or school district may by law be used as security for the faithful performance on execution of any court or private trust or any other act, the bonds of any other local political subdivision may be used in the same way.
Enacted by Chapter 83, 2006 General Session