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Utah Code Title 17B. Limited Purpose Local Government Entities--Special Districts § 17B-2a-607. Contracts with other corporations

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) A metropolitan water district may:

(a) contract with one or more corporations, public or private, for the purpose of:

(i) financing acquisitions, constructions, or operations of the district; or

(ii) carrying out any of the district's powers;

(b) in a contract under Subsection (1)(a), obligate itself severally or jointly with the other corporation or corporations; and

(c) secure, guarantee, or become surety for the payment of an indebtedness or the performance of a contract or other obligation incurred or entered into by a corporation whose shares of stock the district has acquired.

(2) A contract under Subsection (1)(a) may:

(a) provide for:

(i) contributions to be made by each contracting party;

(ii) the division and apportionment of:

(A) the expenses of acquisitions and operations; and

(B) the contractual benefits, services, and products; and

(iii) an agency to make acquisitions and carry on operations under the contract; and

(b) contain covenants and agreements as necessary or convenient to accomplish the purposes of the contract.

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Cite this article: FindLaw.com - Utah Code Title 17B. Limited Purpose Local Government Entities--Special Districts § 17B-2a-607. Contracts with other corporations - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-17b-limited-purpose-local-government-entities-special-districts/ut-code-sect-17b-2a-607/

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