(1)(a) Notwithstanding anything to the contrary contained in statute, the legislative
body of any county may by ordinance establish and maintain a tax stability and trust
fund, for the purpose of preserving funds during years with favorable tax revenues
for use during years with less favorable tax revenues.
(b) Each fund under Subsection (1)(a) shall be subject to all of the limitations and
restrictions imposed by this section and Sections 17-36-52 and 17-36-53.
(c) The principal of the fund shall consist of all sums transferred to it in accordance
with Subsection (2) and interest or other income retained in the fund under Subsection 17-36-52(2)(a).
(2)(a) After establishing a tax stability and trust fund as provided in Subsection
(1), the legislative body, in establishing the levy for the property tax levied by
the county under Section 59-2-908, may establish the levy at a level not to exceed .0001 per dollar of taxable value
of taxable property increase per year that will permit the county to receive during
that fiscal year sums in excess of what may be required to provide for the purposes
of the county.
(b) Any excess sums so received are to be transferred from the county general fund
into the tax stability and trust fund.
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