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Utah Code Title 63C. State Commissions and Councils Code § 63C-25-203. Debt affordability report

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

(1) No later than November 1 each year, the state treasurer, with assistance from the Governor's Office of Planning and Budget and the Office of the Legislative Fiscal Analyst, shall prepare and submit a debt affordability report to the commission and the Revenue and Taxation Interim Committee.

(2) The debt affordability report shall include:

(a) as determined by the state treasurer, the amount of tax-supported debt that, during the next fiscal year and annually for the following nine fiscal years:

(i) will be outstanding; and

(ii) has been authorized but is not yet issued;

(b) a projected schedule of affordable, state tax-supported debt authorizations for the next fiscal year;

(c) projected debt-service requirements during the next fiscal year and annually for the following nine fiscal years based upon:

(i) existing outstanding debt;

(ii) previously authorized but unissued debt; and

(iii) projected bond authorizations;

(d) the criteria that recognized bond rating agencies use to judge the quality of issues of bonds issued by the state; and

(e) any other information that is relevant to:

(i) the state's ability to meet its projected debt service requirements;

(ii) the ability of the state to support additional debt service;

(iii) the interest rate to be borne by, the credit rating on, or any other factor affecting the marketability of state bonds; and

(iv) the effect of authorizing new tax-supported debt on each of the considerations described in this Subsection (2).

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Cite this article: FindLaw.com - Utah Code Title 63C. State Commissions and Councils Code § 63C-25-203. Debt affordability report - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-63c-state-commissions-and-councils-code/ut-code-sect-63c-25-203/

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