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UTAH STATUTES AND CODES
10-5-120 - Loans between funds -- Bonds purchased by funds.
10-5-120. Loans between funds -- Bonds purchased by funds.
Subject to restrictions imposed by bond ordinance, statute, or other controlling regulations,the council may (1) authorize interfund loans from one fund to another at such interest rates andupon such repayment terms and conditions as it may prescribe, and (2) with available cash in anyfund, purchase or otherwise acquire for investment unmatured bonds of the town or of any fundof the town.
Subject to restrictions imposed by bond ordinance, statute, or other controlling regulations,the council may (1) authorize interfund loans from one fund to another at such interest rates andupon such repayment terms and conditions as it may prescribe, and (2) with available cash in anyfund, purchase or otherwise acquire for investment unmatured bonds of the town or of any fundof the town.
Enacted by Chapter 34, 1983 General Session
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