1st Sub.
H.B.
125
COUNTY OPTION SALES AND USE TAX FOR AGRICULTURAL LAND, OPEN LAND, AND INFILL DEVELOPMENT
House Floor
Amendments
Amendment 5 February 24, 1999 10:24 AM
Representative Ure proposes the following amendments:
1. Page 6, Line 152: After "(5)(a)" delete "A" and insert "Except as provided in Subsection (5)(c), a"
2. Page 6, Line 160: After "(b)" delete "A" and insert "Except as provided in Subsection (5)(c), a"
3. Page 6, Line 168: After Line 168 insert:
"(c) Notwithstanding Subsection (5)(a) or (b), a county may not:
(i) expend an amount of revenues generated by a tax under this part to pay debt service on a bond or bond anticipation note;
(ii) pledge an amount of revenues generated by a tax under this part as a source of payment for a bond or bond anticipation note; or
(iii) expend an amount of revenues generated by a tax under this part to pay for a cost related to the authorization or issuance of a bond or bond anticipation note, including:
(A) an engineering fee;
(B) a legal fee;
(C) a fiscal adviser's fee;
(D) interest that accrues on a bond or bond anticipation note; or
(E) a cost similar to a cost described in Subsection (5)(c)(iii)(A) through (D)."