Title 11 Chapter 14 Section 401

Cities, Counties, and Local Taxing Units
Local Government Bonding Act
Section 401
Short title -- Title to appear on face of bonds -- Effect of future statutes dealing with municipal bond issues.

            

11-14-401.   Short title -- Title to appear on face of bonds -- Effect of future statutes dealing with municipal bond issues.

            (1) This chapter is known as the "Local Government Bonding Act."

            (2) All bonds issued pursuant to authority contained in this chapter shall contain on their face a recital to that effect, and no chapter hereafter passed by the Legislature amending other chapters under which bonds authorized to be issued by this chapter might be issued or dealing with bond issues of local political subdivisions shall be construed to affect the authority to proceed under this chapter in the manner herein provided unless such future statute amends this chapter and specifically provides that it is to be applicable to bonds issued under this chapter.

            (3) All bonds referencing the prior title of this chapter, "Utah Municipal Bond Act," that were issued prior to May 2, 2005 pursuant to the authority contained in this chapter shall be considered to reference this chapter and shall be construed according to the terms of Subsection (1) as if they refer to the current title of this chapter.


Renumbered and Amended by Chapter 105, 2005 General Session