Title 54 Public Utilities Chapter 8 Utah Underground Conversion of Utilities Law Section 21 Assessments -- Prepayment of unpaid installments.
54-8-21.Assessments -- Prepayment of unpaid installments.
The governing body may in the resolution levying the assessments provide that all unpaid
installments of assessments levied against any piece of property may (but only in their entirety) be
paid prior to the dates on which they become due if the property owner paying such installments
pays all interest which would accrue thereon to the next succeeding date on which interest is
payable on the bonds issued in anticipation of the collection of the assessments, together with
such additional amount of interest as in the opinion of the governing body is necessary to assure
the availability of money fully sufficient to pay interest on the bonds as interest becomes due and
any redemption premiums which may become payable on the bonds in order to retire in advance
of maturity bonds in a sufficient amount to utilize the assessments thus paid in advance. If no
bonds have been issued then all unpaid installments of assessments levied against any piece of
property may be paid in their entirety prior to the date upon which they become due by paying the
principal amount due and the interest accrued thereon to the date of payment.
Enacted by Chapter 157, 1969 General Session
Download Code Section Zipped WordPerfect 54_08_002100.ZIP 2,037 Bytes