11-32-15 - Special fund -- Apportionment of excess amounts. - Utah Statutes

11-32-15. Special fund -- Apportionment of excess amounts.
(1) The provisions of Title 59, Revenue and Taxation, otherwise notwithstanding,delinquent taxes paid to the county on behalf of the participant members shall be paid into thespecial fund created with respect to the bonds issued by any authority.
(2) Following the payment of all bonds issued with respect to any delinquent taxreceivables and all other amounts due and owing under any assignment agreement, amountsremaining on deposit with the authority or in the special fund created with respect to the issuanceof the bonds shall be apportioned and distributed as follows:
(a) Any amounts which represent the amount by which the delinquent taxes recoveredexceed the amount originally paid by the authority at the time of transfer of the delinquent taxreceivables to the authority shall be distributed to the respective participant members, includingthe county, in the proportion of their respective taxes.
(b) Any amounts remaining following the distribution directed in Subsection (2)(a) shallbe paid to the county.

Amended by Chapter 324, 2010 General Session