Utah Code Title 17D. Limited Purpose Local Government Entities--Other Entities § 17D-1-503. Levy to pay for general obligation bonds

(i) pay the principal of and interest on the general obligation bonds;

(ii) establish a sinking fund for defaults and future debt service on the general obligation bonds;  and

(iii) establish a reserve to secure payment of the general obligation bonds.

(i) without limitation as to rate or amount;  and

(ii) subject to the prior approval of a majority of registered voters of the special service district voting in an election held for that purpose on a date specified in Section 20A-1-204.

(i) levy the tax as a separate and special levy for the specific purposes stated in Subsection (1);  and

(ii) apply the proceeds from the levy solely for the purpose of paying the principal of and interest on the general obligation bonds, even though the proceeds may be used to establish or replenish a sinking fund under Subsection (1)(a)(ii) or a reserve under Subsection (1)(a)(iii).