17-36-54 - Tax stability and trust fund -- Use of principal -- Determination of necessity -- Election. - Utah Statutes

17-36-54. Tax stability and trust fund -- Use of principal -- Determination ofnecessity -- Election.
If the legislative body of a county that has established a tax stability and trust fund underSection 17-36-51 determines that it is necessary for purposes of that county to use any portion ofthe principal of the fund, the county legislative body shall submit this proposition to theelectorate of that county in a special election called and held in the manner provided for in Title11, Chapter 14, Local Government Bonding Act, for the holding of bond elections. If theproposition is approved at this special election by a majority of the qualified electors of thecounty voting at the election, then that portion of the principal of the fund covered by theproposition may be transferred to the county's general fund for use for purposes of that county.

Amended by Chapter 105, 2005 General Session