63H-1-606 - Bonds exempt from taxes -- Authority may purchase its own bonds. - Utah Statutes

63H-1-606. Bonds exempt from taxes -- Authority may purchase its own bonds.
(1) A bond issued by the authority under this part is issued for an essential public andgovernmental purpose and is, together with interest on the bond and income from it, exempt fromall state taxes except the corporate franchise tax.
(2) The authority may purchase its own bonds at a price that its board determines.
(3) Nothing in this section may be construed to limit the right of an obligee to pursue aremedy for the enforcement of a pledge or lien given under this part by the authority on its rents,fees, grants, properties, or revenues.

Enacted by Chapter 23, 2007 General Session