Title 17D Chapter 2 Section 702

Limited Purpose Local Government Entities - Other Entities
Local Building Authority Act
Section 702
Effect of dissolution.


17D-2-702.   Effect of dissolution.

            Upon the dissolution of a local building authority:

            (1) title to all of the local building authority's projects vest in the creating local entity; and

            (2) all assets and net earnings of the local building authority remaining after the payment or providing for the payment of all local building authority bonds and other obligations shall be transferred to the creating local entity.

Enacted by Chapter 360, 2008 General Session