11-25-5 - Bonds or notes -- Issuance -- Purposes -- Payment -- Maturity of bond anticipation notes. - Utah Statutes

11-25-5. Bonds or notes -- Issuance -- Purposes -- Payment -- Maturity of bondanticipation notes.
An agency may, from time to time, issue its negotiable bonds or notes for the purpose offinancing residential rehabilitation as authorized by this act and for the purpose of funding orrefunding these bonds or notes in the same manner as it may issue other bonds or notes asprovided in Title 17C, Chapter 1, Part 5, Agency Bonds. Every issue of its bonds shall be aspecial obligation of the agency payable from all or any part of the revenues specified in the actor funds legally received by the agency. In anticipation of the sale of the bonds, the agency mayissue negotiable bond anticipation notes in accordance with Section 11-14-311, and may renewsuch notes from time to time. Bond anticipation notes may be paid from the proceeds of sale ofthe bonds of the agency in anticipation of which they were issued. Bond anticipation notes andagreements relating thereto and the resolution or resolutions authorizing the notes andagreements may obtain any provisions, conditions, or limitations which a bond, agreementrelating thereto, or bond resolution of the agency may contain except that any note or renewalthereof shall mature at a time not later than five years from the date of the issuance of the originalnote.

Amended by Chapter 359, 2006 General Session