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Current as of May 05, 2022 | Updated by FindLaw Staff
(1) A bond issued by an agency under this part is issued for an essential public and governmental purpose and is, together with interest on the bond and income from it, exempt from all state taxes except the corporate franchise tax.
(2) An agency may purchase the agency's own bonds at a price that the board determines.
(3) Nothing in this section may be construed to limit the right of an obligee to pursue a remedy for the enforcement of a pledge or lien given under this part by an agency on the agency's rents, fees, grants, properties, or revenues.
Cite this article: FindLaw.com - Utah Code Title 17C. Limited Purpose Local Government Entities--Community Development and Renewal Agencies Act § 17C-1-508. Bonds exempt from taxes--Agency may purchase an agency's own bonds - last updated May 05, 2022 | https://codes.findlaw.com/ut/title-17c-limited-purpose-local-government-entities-community-development-and-renewal-agencies-act/ut-code-sect-17c-1-508/
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