10-7-7 - Bond issues for water, light, and sewers. - Utah Statutes

10-7-7. Bond issues for water, light, and sewers.
(1) A city of the first or second class may incur an indebtedness, not exceeding in theaggregate with all other indebtedness 8% of the value of the taxable property in the city, for thepurpose of supplying the city with water, artificial light, or sewers, when the works for supplyingthe water, light, and sewers are owned and controlled by the city.
(2) A city of the third, fourth, or fifth class or a town may become indebted to an amountnot exceeding in the aggregate with all other indebtedness 12% of the value of the taxableproperty in the city or town for the purpose of supplying the city or town with water, artificiallight, or sewers, when the works for supplying the water, light, and sewers are owned andcontrolled by the city or town.

Amended by Chapter 292, 2003 General Session