reglab/housing_qa huggingface dataset:
UT Code § 11-42-506 (2021)
2021 Utah Code|Title 11 - Cities, Counties, and Local Taxing Units|Chapter 42 - Assessment Area Act|Part 5 - Assessment Liens|Section 506 - Release and discharge of assessment lien -- Notice of dissolution of assessment area.

11-42-506. Release and discharge of assessment lien -- Notice of dissolution of assessment area.    (1)   (a) Upon an assessment on a parcel of property having been paid in full, the local entity shall file, in the office of the recorder of the county in which the property is located, a release and discharge of the assessment lien on that property.     (b) Each release and discharge under Subsection (1)(a) shall:   (i) include a legal description of the affected property; and     (ii) comply with other applicable requirements for recording a document.         (2)   (a) Upon all assessments levied within an assessment area having been paid in full, or upon payment in full having been provided for, the local entity shall file, in the office of the recorder of the county in which the property within the assessment area is located, a notice of the dissolution of the assessment area.     (b) Each notice under Subsection (2)(a) shall:   (i) include a legal description of the property assessed within the assessment area; and     (ii) comply with all other applicable requirements for recording a document.        Enacted by Chapter 329, 2007 General Session
UT Code § 11-42-601 (2021)
2021 Utah Code|Title 11 - Cities, Counties, and Local Taxing Units|Chapter 42 - Assessment Area Act|Part 6 - Interim Warrants, Bond Anticipation Notes, Assessment Bonds, and Refunding Assessment Bonds|Section 601 - Interim warrants.

11-42-601. Interim warrants.    (1) A local entity may issue interim warrants against an assessment area.     (2) An interim warrant may be in any amount up to:   (a) as portions of the work on improvements in an assessment area are completed, 90% of the value of the completed work, as estimated by the local entity's project engineer;     (b) 100% of the value of the work completed, after completion of the work and acceptance of the work by the local entity's project engineer; and     (c) the price of property, the acquisition of which is required for an improvement.       (3) The governing body may:   (a) issue interim warrants at not less than par value in a manner the governing body determines; and     (b) use the proceeds from the issuance of interim warrants to pay:   (i) the contract price;     (ii) the property price; and     (iii) related costs, including overhead costs.         (4)   (a) Interim warrants shall bear interest from the date of their issuance until paid.     (b)   (i) The governing body shall:   (A) approve the interest rate applicable to interim warrants; and     (B) fix a maturity date for each interim warrant.       (ii) The interest rate applicable to interim warrants may be fixed or variable or a combination of fixed and variable.     (iii) If interim warrants carry a variable interest rate, the governing body shall specify the basis upon which the rate is to be determined, the manner in which the rate is to be adjusted, and a maximum interest rate.     (iv) A local entity may provide for interest on interim warrants to be paid semiannually, annually, or at maturity.     (v) If an interim warrant matures before the local entity has available sources of payment under Section 11-42-603, the local entity may authorize the issuance of a new interim warrant to pay the principal and interest on the maturing warrant.       (c) The local entity shall include interest accruing on interim warrants in the cost of improvements in the assessment area.       (5) A local entity may purchase some or all of the interim warrants it has issued using the local entity's general fund money.    Enacted by Chapter 329, 2007 General Session
UT Code § 11-42-602 (2021)
2021 Utah Code|Title 11 - Cities, Counties, and Local Taxing Units|Chapter 42 - Assessment Area Act|Part 6 - Interim Warrants, Bond Anticipation Notes, Assessment Bonds, and Refunding Assessment Bonds|Section 602 - Bond anticipation notes.

11-42-602. Bond anticipation notes.    (1) A local entity may by resolution authorize the issuance of bond anticipation notes.     (2) A local entity may use the proceeds from the issuance of bond anticipation notes to pay:   (a) the estimated acquisition and contract price;     (b) the property price;     (c) capitalized interest; and     (d) related costs, including overhead costs.       (3) Each resolution authorizing the issuance of bond anticipation notes shall:   (a) describe the bonds in anticipation of which the bond anticipation notes are to be issued;     (b) specify the principal amount and maturity dates of the notes; and     (c) specify the interest rate applicable to the notes.       (4)   (a) The interest rate on bond anticipation notes issued under this section may be fixed, variable, or a combination of fixed and variable, as determined by the governing body.     (b) If bond anticipation notes carry a variable interest rate, the governing body shall specify the basis upon which the rate is to be determined, the manner in which the rate is to be adjusted, and a maximum interest rate.     (c) A local entity may provide for interest on bond anticipation notes to be paid semiannually, annually, or at maturity.       (5) A local entity may:   (a) issue and sell bond anticipation notes in a manner and at a price, either at, below, or above face value, as the governing body determines by resolution; and     (b) make bond anticipation notes redeemable prior to maturity, at the governing body's option and in the manner and upon the terms fixed by the resolution authorizing their issuance.       (6) Bond anticipation notes shall be executed, be in a form, and have details and terms as provided in the resolution authorizing their issuance.     (7) A local entity may issue bond anticipation notes to refund bond anticipation notes previously issued by the local entity.     (8) A local entity may include interest accruing on bond anticipation notes in the cost of improvements in an assessment area.    Amended by Chapter 246, 2009 General Session
UT Code § 11-42-603 (2021)
2021 Utah Code|Title 11 - Cities, Counties, and Local Taxing Units|Chapter 42 - Assessment Area Act|Part 6 - Interim Warrants, Bond Anticipation Notes, Assessment Bonds, and Refunding Assessment Bonds|Section 603 - Sources of payment for interim warrants and bond anticipation notes.

11-42-603. Sources of payment for interim warrants and bond anticipation notes.  Each local entity that has issued interim warrants or bond anticipation notes shall pay the warrants or notes from:  (1) proceeds from the sale of assessment bonds;     (2) cash the local entity receives from the payment for improvements;     (3) assessments;     (4) improvement revenues that are not pledged to the payment of assessment bonds;     (5) proceeds from the sale of interim warrants or bond anticipation notes; or     (6) the local entity's guaranty fund or, if applicable, the reserve fund.    Amended by Chapter 246, 2009 General Session
UT Code § 11-42-604 (2021)
2021 Utah Code|Title 11 - Cities, Counties, and Local Taxing Units|Chapter 42 - Assessment Area Act|Part 6 - Interim Warrants, Bond Anticipation Notes, Assessment Bonds, and Refunding Assessment Bonds|Section 604 - Notice regarding resolution or ordinance authorizing interim warrants or bond anticipation notes -- Complaint contesting warrants or notes -- Prohibition against contesting warrants and notes.

 Effective 5/13/2014  11-42-604. Notice regarding resolution or ordinance authorizing interim warrants or bond anticipation notes -- Complaint contesting warrants or notes -- Prohibition against contesting warrants and notes.    (1) A local entity may publish notice, as provided in Subsection (2), of a resolution or ordinance that the governing body has adopted authorizing the issuance of interim warrants or bond anticipation notes.     (2)   (a) If a local entity chooses to publish notice under Subsection (1), the notice shall:   (i) be published:   (A) in a newspaper of general circulation within the local entity; and     (B) as required in Section 45-1-101; and       (ii) contain:   (A) the name of the issuer of the interim warrants or bond anticipation notes;     (B) the purpose of the issue;     (C) the maximum principal amount that may be issued;     (D) the maximum length of time over which the interim warrants or bond anticipation notes may mature;     (E) the maximum interest rate, if there is a maximum rate; and     (F) the times and place where a copy of the resolution or ordinance may be examined, as required under Subsection (2)(b).         (b) The local entity shall allow examination of the resolution or ordinance authorizing the issuance of the interim warrants or bond anticipation notes at its office during regular business hours.       (3) Any person may, within 30 days after publication of a notice under Subsection (1), file a verified, written complaint in the district court of the county in which the person resides, contesting the regularity, formality, or legality of the interim warrants or bond anticipation notes issued by the local entity or the proceedings relating to the issuance of the interim warrants or bond anticipation notes.     (4) After the 30-day period under Subsection (3), no person may contest the regularity, formality, or legality of the interim warrants or bond anticipation notes issued by a local entity under the resolution or ordinance that was the subject of the notice under Subsection (1), or the proceedings relating to the issuance of the interim warrants or bond anticipation notes.    Amended by Chapter 189, 2014 General Session
UT Code § 11-42-606 (2021)
2021 Utah Code|Title 11 - Cities, Counties, and Local Taxing Units|Chapter 42 - Assessment Area Act|Part 6 - Interim Warrants, Bond Anticipation Notes, Assessment Bonds, and Refunding Assessment Bonds|Section 606 - Assessment bonds are not a local entity's general obligation -- Liability and responsibility of a local entity that issues assessment bonds.

11-42-606. Assessment bonds are not a local entity's general obligation -- Liability and responsibility of a local entity that issues assessment bonds.    (1) Assessment bonds are not a general obligation of the local entity that issues them.     (2) A local entity that issues assessment bonds:   (a) may not be held liable for payment of the bonds except to the extent of:   (i) funds created and received from assessments against which the bonds are issued;     (ii) improvement revenues; and     (iii) the local entity's guaranty fund under Section 11-42-701 or, if applicable, reserve fund under Section 11-42-702; and       (b) is responsible for:   (i) the lawful levy of all assessments;     (ii) the collection and application of improvement revenues, as provided in this chapter;     (iii) the creation and maintenance of a guaranty fund or, if applicable, a reserve fund; and     (iv) the faithful accounting, collection, settlement, and payment of:   (A) assessments and improvement revenues; and     (B) money in a guaranty fund or, if applicable, a reserve fund.           (3) If a local entity illegally assesses property that is exempt from assessment, the local entity:   (a) is liable to the holders of assessment bonds for the payment of the illegal assessment; and     (b) shall pay the amount for which it is liable under Subsection (3)(a) from the local entity's general fund or other legally available money.      Enacted by Chapter 329, 2007 General Session
UT Code § 11-42-609 (2021)
2021 Utah Code|Title 11 - Cities, Counties, and Local Taxing Units|Chapter 42 - Assessment Area Act|Part 6 - Interim Warrants, Bond Anticipation Notes, Assessment Bonds, and Refunding Assessment Bonds|Section 609 - Validation of previously issued obligations.

11-42-609. Validation of previously issued obligations.    (1) Subject to Subsection (2):   (a) all local entity obligations issued by a local entity before April 30, 2007 are:   (i) validated, ratified, and confirmed; and     (ii) declared to constitute legally binding obligations in accordance with their terms; and       (b) all proceedings before April 30, 2007 related to the authorization and issuance of local entity obligations are validated, ratified, and confirmed.       (2) Nothing in this section may be construed to affect the validity of local entity obligations, a guaranty fund, or a reserve fund whose legality is being contested on April 30, 2007.     (3)   (a) This chapter applies to all local entity obligations issued after April 30, 2007, even though proceedings were taken before that date under provisions of the law then in effect but repealed or modified on or after that date.     (b) Proceedings taken as described in Subsection (3)(a) under the law in effect before April 30, 2007 are validated, ratified, and confirmed, subject to question only as provided in Section 11-42-106.       (4) The validity of local entity obligations issued before April 30, 2007 is not affected by changes to the law under which they were issued that become effective on or after April 30, 2007.    Enacted by Chapter 329, 2007 General Session
UT Code § 11-42-701 (2021)
2021 Utah Code|Title 11 - Cities, Counties, and Local Taxing Units|Chapter 42 - Assessment Area Act|Part 7 - Guaranty and Reserve Funds|Section 701 - Guaranty fund.

11-42-701. Guaranty fund.    (1) Except as provided in Section 11-42-702, each local entity that issues assessment bonds shall:   (a) create a guaranty fund, as provided in this section, to secure bonds, to the extent of the money in the fund; and     (b) fund the guaranty fund by:   (i) appropriations from the local entity's general fund;     (ii) a property tax levy of not to exceed .0002 per dollar of taxable value of taxable property within the local entity's jurisdictional boundaries;     (iii) issuing general obligation bonds; or     (iv) appropriations from other sources as determined by the local entity's governing body.         (2) A tax levied by a local entity under Subsection (1)(b)(ii) to fund a guaranty fund is not included for purposes of calculating the maximum levy limitation applicable to the local entity.     (3) A local entity may covenant for the benefit of bond holders that, as long as the bonds are outstanding and unpaid, the local entity will:   (a) create a guaranty fund as provided in this section;     (b)   (i) to the extent legally permissible and by any of the methods described in Subsection (1)(b), transfer each year to the guaranty fund an amount of money up to the amount the local entity would collect by levying a tax of .0002 per dollar of taxable value of taxable property within the local entity until the balance in the guaranty fund equals 10% of the amount of all outstanding bonds; and     (ii) in subsequent years transfer to the guaranty fund the amount necessary to replenish or maintain the guaranty fund at 10% of the amount of all outstanding bonds; and       (c) invest the funds on deposit in the guaranty fund as provided in Title 51, Chapter 7, State Money Management Act.       (4) A local entity may create subaccounts within a guaranty fund for each issue of outstanding assessment bonds and refunding assessment bonds in a manner that the local entity's governing body considers appropriate to allocate among the bond issues the securities held in and interest earnings on the guaranty fund for purposes of complying with federal law.     (5) A local entity may transfer to its general fund any money in its guaranty fund that exceeds 10% of the amount of all of the local entity's outstanding assessment bonds and refunding assessment bonds that are secured by the guaranty fund.     (6) For purposes of Subsections (3)(b) and (5), refunding assessment bonds may not be considered outstanding until the principal of and interest and any redemption premiums on the prior bonds that are refunded by the refunding assessment bonds are fully paid or legally considered to be paid.    Enacted by Chapter 329, 2007 General Session
UT Code § 11-42-702 (2021)
2021 Utah Code|Title 11 - Cities, Counties, and Local Taxing Units|Chapter 42 - Assessment Area Act|Part 7 - Guaranty and Reserve Funds|Section 702 - Reserve fund.

11-42-702. Reserve fund.    (1) In lieu of creating and funding a guaranty fund under Section 11-42-701 for an issue of assessment bonds or refunding assessment bonds, a local entity may establish a reserve fund to secure the issue.     (2) If a local entity establishes a reserve fund under this section:   (a) the bonds secured by the reserve fund are not secured by a guaranty fund under Section 11-42-701;     (b) the local entity is not required to fund a guaranty fund under Section 11-42-701 for those bonds; and     (c) unless otherwise provided in this part or in the proceedings authorizing the issuance of bonds, the provisions of this part regarding a guaranty fund have no application to the bonds that are secured by the reserve fund.       (3) Each local entity that establishes a reserve fund shall:   (a) fund and replenish the reserve fund in the amounts and manner provided in the proceedings authorizing the issuance of the bonds that are secured by the reserve fund; and     (b) invest the funds on deposit in the reserve fund as provided in Title 51, Chapter 7, State Money Management Act.       (4)   (a) Subject to Subsection (4)(b), a local entity may replenish a reserve fund under this section by any of the methods described in Subsection 11-42-701(1)(b).     (b) The proceedings authorizing the issuance of assessment bonds or refunding assessment bonds shall provide that if a local entity uses any of the methods described in Subsection 11-42-701(1)(b) to replenish a reserve fund, the local entity shall be reimbursed, with interest at a rate that the local entity determines, with money that the local entity receives from foreclosing on delinquent property.       (5) Upon the retirement of bonds secured by a reserve fund, the local entity shall:   (a) terminate the reserve fund; and     (b) disburse all remaining money in the fund as provided in the proceedings authorizing the issuance of the bonds.      Amended by Chapter 246, 2009 General Session
UT Code § 11-42-703 (2021)
2021 Utah Code|Title 11 - Cities, Counties, and Local Taxing Units|Chapter 42 - Assessment Area Act|Part 7 - Guaranty and Reserve Funds|Section 703 - Payment from guaranty fund or reserve fund if insufficient funds available in the assessment fund -- Payment by warrant from guaranty fund or reserve fund -- Subrogation.

11-42-703. Payment from guaranty fund or reserve fund if insufficient funds available in the assessment fund -- Payment by warrant from guaranty fund or reserve fund -- Subrogation.    (1) If a bond is presented to the local entity for payment at a time when there is insufficient money in the assessment fund to pay the amount due, the local entity shall pay the amount due from the guaranty fund or, if applicable, reserve fund.     (2) If there is insufficient money in the guaranty fund or, if applicable, the reserve fund to pay the amount due under Subsection (1), the local entity may pay by a warrant drawn against the guaranty fund or, if applicable, reserve fund.     (3) If a local entity pays from its guaranty fund or reserve fund any principal or interest owing under a bond:   (a) the local entity is subrogated to the rights of the bond holders; and     (b) the proceeds from the bond shall become part of the guaranty fund or reserve fund, as the case may be.      Enacted by Chapter 329, 2007 General Session
UT Code § 11-42-704 (2021)
2021 Utah Code|Title 11 - Cities, Counties, and Local Taxing Units|Chapter 42 - Assessment Area Act|Part 7 - Guaranty and Reserve Funds|Section 704 - Transfers from local entity funds to replenish guaranty fund or reserve fund.

11-42-704. Transfers from local entity funds to replenish guaranty fund or reserve fund.  If the guaranty fund or, if applicable, the reserve fund has insufficient money for the local entity to purchase property on which it bids at a sale under Part 5, Assessment Liens, for delinquent assessments, the local entity may transfer or appropriate money from its general fund or other available sources, as the governing body determines, to replenish the guaranty fund or reserve fund.  Enacted by Chapter 329, 2007 General Session
UT Code § 11-42-705 (2021)
2021 Utah Code|Title 11 - Cities, Counties, and Local Taxing Units|Chapter 42 - Assessment Area Act|Part 7 - Guaranty and Reserve Funds|Section 705 - Warrants to meet guaranty fund and reserve fund liabilities -- Levy to pay warrants authorized -- Limit on the levy.

11-42-705. Warrants to meet guaranty fund and reserve fund liabilities -- Levy to pay warrants authorized -- Limit on the levy.    (1) A local entity may issue warrants, bearing interest at a rate determined by the governing body, against a guaranty fund or reserve fund to meet any financial liabilities accruing against the fund.     (2)   (a) If a local entity issues warrants under Subsection (1), the local entity shall, subject to Subsection (2)(b), include in its next annual tax levy an amount sufficient, with other guaranty fund or reserve fund resources, to pay all issued and outstanding warrants under Subsection (1) for all assessment areas within the local entity.     (b) A levy under Subsection (2)(a):   (i) may not exceed .0002 per dollar of taxable value of taxable property in the local entity; and     (ii) is exempt from the statutory limit applicable to the local entity's property tax levy.        Enacted by Chapter 329, 2007 General Session
UT Code § 11-42-706 (2021)
2021 Utah Code|Title 11 - Cities, Counties, and Local Taxing Units|Chapter 42 - Assessment Area Act|Part 7 - Guaranty and Reserve Funds|Section 706 - Validation of prior guaranty fund or reserve fund proceedings.

11-42-706. Validation of prior guaranty fund or reserve fund proceedings.    (1) Subject to Subsection (2), all proceedings before April 30, 2007 related to the creation, maintenance, and use of a guaranty fund or reserve fund are validated, ratified, and confirmed.     (2) Nothing in this section may be construed to affect the validity of a guaranty fund or reserve fund whose legality is being contested on April 30, 2007.    Enacted by Chapter 329, 2007 General Session
UT Code § 11-42a-101 (2021)
2021 Utah Code|Title 11 - Cities, Counties, and Local Taxing Units|Chapter 42a - Commercial Property Assessed Clean Energy Act|Part 1 - General Provisions|Section 101 - Title.

 Effective 3/28/2017  11-42a-101. Title.  This chapter is known as the "Commercial Property Assessed Clean Energy Act" or "C-PACE Act." Enacted by Chapter 470, 2017 General Session
UT Code § 11-42a-103 (2021)
2021 Utah Code|Title 11 - Cities, Counties, and Local Taxing Units|Chapter 42a - Commercial Property Assessed Clean Energy Act|Part 1 - General Provisions|Section 103 - No limitation on other local entity powers -- Conflict with other statutory provisions.

 Effective 3/28/2017  11-42a-103. No limitation on other local entity powers -- Conflict with other statutory provisions.    (1) This chapter does not limit a power that a local entity has under other applicable law to:   (a) make an improvement or provide a service;     (b) create a district;     (c) levy an assessment or tax; or     (d) issue a bond or a refunding bond.       (2) If there is a conflict between a provision of this chapter and any other statutory provision, the provision of this chapter governs.     (3) After January 1, 2017, a local entity or the C-PACE district may create an energy assessment area within the certificated service territory of a public electrical utility for the installation of a renewable energy system with a nameplate rating of:   (a) no more than 2.0 megawatts; or     (b) more than 2.0 megawatts to serve load that the public electrical utility does not already serve.      Enacted by Chapter 470, 2017 General Session