73-11-4 - School and Institutional Trust Lands Administration to vote stock of consolidated district. - Utah Statutes

73-11-4. School and Institutional Trust Lands Administration to vote stock ofconsolidated district.
In the event it is necessary for the consolidated corporation to borrow money forconsolidation expenses, repairs, improvements, and operation, and to pay the indebtedness of thePrice River water conservation district or any of the constituent companies, and to pledge ormortgage all or any part of the assets and properties of the consolidated corporation as securitytherefor, the School and Institutional Trust Lands Administration is authorized to vote the stock ofthe state in favor of the action, providing it considers the action to be in the best interest of all theconstituent parties.

Amended by Chapter 299, 1995 General Session