State Codes and Statutes

Statutes > Utah > Title-63b > Chapter-05 > 63b-5-105

63B-5-105. Terms and conditions of sale -- Plan of financing -- Signatures --Replacement -- Registration -- Federal rebate.
(1) In the issuance of bonds, the commission may determine by resolution:
(a) the manner of sale, including public or private sale;
(b) the terms and conditions of sale, including price, whether at, below, or above facevalue;
(c) denominations;
(d) form;
(e) manner of execution;
(f) manner of authentication;
(g) place and medium of purchase;
(h) redemption terms; and
(i) other provisions and details it considers appropriate.
(2) The commission may by resolution adopt a plan of financing, which may includeterms and conditions of arrangements entered into by the commission on behalf of the state withfinancial and other institutions for letters of credit, standby letters of credit, reimbursementagreements, and remarketing, indexing, and tender agent agreements to secure the bonds,including payment from any legally available source of fees, charges, or other amounts comingdue under the agreements entered into by the commission.
(3) (a) Any signature of a public official authorized by resolution of the commission tosign the bonds may be a facsimile signature of that official imprinted, engraved, stamped, orotherwise placed on the bonds.
(b) If all signatures of public officials on the bonds are facsimile signatures, provisionshall be made for a manual authenticating signature on the bonds by or on behalf of a designatedauthentication agent.
(c) If an official ceases to hold office before delivery of the bonds signed by that official,the signature or facsimile signature of the official is nevertheless valid for all purposes.
(d) A facsimile of the state seal may be imprinted, engraved, stamped, or otherwiseplaced on the bonds.
(4) (a) The commission may enact resolutions providing for the replacement of lost,destroyed, or mutilated bonds, or for the exchange of bonds after issuance for bonds of smaller orlarger denominations.
(b) Bonds in changed denominations shall:
(i) be exchanged for the original bonds in like aggregate principal amounts and in amanner that prevents the duplication of interest; and
(ii) bear interest at the same rate, mature on the same date, and be as nearly as practicablein the form of the original bonds.
(5) (a) Bonds may be registered as to both principal and interest or may be in a bookentry form under which the right to principal and interest may be transferred only through a bookentry.
(b) The commission may provide for the services and payment for the services of one ormore financial institutions or other entities or persons, or nominees, within or outside the state,for the authentication, registration, transfer, including record, bookkeeping, or book entryfunctions, exchange, and payment of the bonds.
(c) The records of ownership, registration, transfer, and exchange of the bonds, and of

persons to whom payment with respect to the obligations are made, are private records asprovided in Section 63G-2-302 or protected records as provided in Section 63G-2-305.
(d) The bonds and any evidences of participation interest in the bonds may be issued,executed, authenticated, registered, transferred, exchanged, and otherwise made to comply withTitle 15, Chapter 7, Registered Public Obligations Act, or any other act of the Legislature relatingto the registration of obligations enacted to meet the requirements of Section 149 of the InternalRevenue Code of 1986, as amended, or any successor to it, and applicable regulations.
(6) The commission may:
(a) by resolution, provide for payment to the United States of whatever amounts arenecessary to comply with Section 148 (f) of the Internal Revenue Code of 1986, as amended; and
(b) enter into agreements with financial and other institutions and attorneys to providefor:
(i) the calculation, holding, and payment of those amounts; and
(ii) payment from any legally available source of fees, charges, or other amounts comingdue under any agreements entered into by the commission.

Amended by Chapter 382, 2008 General Session

State Codes and Statutes

Statutes > Utah > Title-63b > Chapter-05 > 63b-5-105

63B-5-105. Terms and conditions of sale -- Plan of financing -- Signatures --Replacement -- Registration -- Federal rebate.
(1) In the issuance of bonds, the commission may determine by resolution:
(a) the manner of sale, including public or private sale;
(b) the terms and conditions of sale, including price, whether at, below, or above facevalue;
(c) denominations;
(d) form;
(e) manner of execution;
(f) manner of authentication;
(g) place and medium of purchase;
(h) redemption terms; and
(i) other provisions and details it considers appropriate.
(2) The commission may by resolution adopt a plan of financing, which may includeterms and conditions of arrangements entered into by the commission on behalf of the state withfinancial and other institutions for letters of credit, standby letters of credit, reimbursementagreements, and remarketing, indexing, and tender agent agreements to secure the bonds,including payment from any legally available source of fees, charges, or other amounts comingdue under the agreements entered into by the commission.
(3) (a) Any signature of a public official authorized by resolution of the commission tosign the bonds may be a facsimile signature of that official imprinted, engraved, stamped, orotherwise placed on the bonds.
(b) If all signatures of public officials on the bonds are facsimile signatures, provisionshall be made for a manual authenticating signature on the bonds by or on behalf of a designatedauthentication agent.
(c) If an official ceases to hold office before delivery of the bonds signed by that official,the signature or facsimile signature of the official is nevertheless valid for all purposes.
(d) A facsimile of the state seal may be imprinted, engraved, stamped, or otherwiseplaced on the bonds.
(4) (a) The commission may enact resolutions providing for the replacement of lost,destroyed, or mutilated bonds, or for the exchange of bonds after issuance for bonds of smaller orlarger denominations.
(b) Bonds in changed denominations shall:
(i) be exchanged for the original bonds in like aggregate principal amounts and in amanner that prevents the duplication of interest; and
(ii) bear interest at the same rate, mature on the same date, and be as nearly as practicablein the form of the original bonds.
(5) (a) Bonds may be registered as to both principal and interest or may be in a bookentry form under which the right to principal and interest may be transferred only through a bookentry.
(b) The commission may provide for the services and payment for the services of one ormore financial institutions or other entities or persons, or nominees, within or outside the state,for the authentication, registration, transfer, including record, bookkeeping, or book entryfunctions, exchange, and payment of the bonds.
(c) The records of ownership, registration, transfer, and exchange of the bonds, and of

persons to whom payment with respect to the obligations are made, are private records asprovided in Section 63G-2-302 or protected records as provided in Section 63G-2-305.
(d) The bonds and any evidences of participation interest in the bonds may be issued,executed, authenticated, registered, transferred, exchanged, and otherwise made to comply withTitle 15, Chapter 7, Registered Public Obligations Act, or any other act of the Legislature relatingto the registration of obligations enacted to meet the requirements of Section 149 of the InternalRevenue Code of 1986, as amended, or any successor to it, and applicable regulations.
(6) The commission may:
(a) by resolution, provide for payment to the United States of whatever amounts arenecessary to comply with Section 148 (f) of the Internal Revenue Code of 1986, as amended; and
(b) enter into agreements with financial and other institutions and attorneys to providefor:
(i) the calculation, holding, and payment of those amounts; and
(ii) payment from any legally available source of fees, charges, or other amounts comingdue under any agreements entered into by the commission.

Amended by Chapter 382, 2008 General Session


State Codes and Statutes

State Codes and Statutes

Statutes > Utah > Title-63b > Chapter-05 > 63b-5-105

63B-5-105. Terms and conditions of sale -- Plan of financing -- Signatures --Replacement -- Registration -- Federal rebate.
(1) In the issuance of bonds, the commission may determine by resolution:
(a) the manner of sale, including public or private sale;
(b) the terms and conditions of sale, including price, whether at, below, or above facevalue;
(c) denominations;
(d) form;
(e) manner of execution;
(f) manner of authentication;
(g) place and medium of purchase;
(h) redemption terms; and
(i) other provisions and details it considers appropriate.
(2) The commission may by resolution adopt a plan of financing, which may includeterms and conditions of arrangements entered into by the commission on behalf of the state withfinancial and other institutions for letters of credit, standby letters of credit, reimbursementagreements, and remarketing, indexing, and tender agent agreements to secure the bonds,including payment from any legally available source of fees, charges, or other amounts comingdue under the agreements entered into by the commission.
(3) (a) Any signature of a public official authorized by resolution of the commission tosign the bonds may be a facsimile signature of that official imprinted, engraved, stamped, orotherwise placed on the bonds.
(b) If all signatures of public officials on the bonds are facsimile signatures, provisionshall be made for a manual authenticating signature on the bonds by or on behalf of a designatedauthentication agent.
(c) If an official ceases to hold office before delivery of the bonds signed by that official,the signature or facsimile signature of the official is nevertheless valid for all purposes.
(d) A facsimile of the state seal may be imprinted, engraved, stamped, or otherwiseplaced on the bonds.
(4) (a) The commission may enact resolutions providing for the replacement of lost,destroyed, or mutilated bonds, or for the exchange of bonds after issuance for bonds of smaller orlarger denominations.
(b) Bonds in changed denominations shall:
(i) be exchanged for the original bonds in like aggregate principal amounts and in amanner that prevents the duplication of interest; and
(ii) bear interest at the same rate, mature on the same date, and be as nearly as practicablein the form of the original bonds.
(5) (a) Bonds may be registered as to both principal and interest or may be in a bookentry form under which the right to principal and interest may be transferred only through a bookentry.
(b) The commission may provide for the services and payment for the services of one ormore financial institutions or other entities or persons, or nominees, within or outside the state,for the authentication, registration, transfer, including record, bookkeeping, or book entryfunctions, exchange, and payment of the bonds.
(c) The records of ownership, registration, transfer, and exchange of the bonds, and of

persons to whom payment with respect to the obligations are made, are private records asprovided in Section 63G-2-302 or protected records as provided in Section 63G-2-305.
(d) The bonds and any evidences of participation interest in the bonds may be issued,executed, authenticated, registered, transferred, exchanged, and otherwise made to comply withTitle 15, Chapter 7, Registered Public Obligations Act, or any other act of the Legislature relatingto the registration of obligations enacted to meet the requirements of Section 149 of the InternalRevenue Code of 1986, as amended, or any successor to it, and applicable regulations.
(6) The commission may:
(a) by resolution, provide for payment to the United States of whatever amounts arenecessary to comply with Section 148 (f) of the Internal Revenue Code of 1986, as amended; and
(b) enter into agreements with financial and other institutions and attorneys to providefor:
(i) the calculation, holding, and payment of those amounts; and
(ii) payment from any legally available source of fees, charges, or other amounts comingdue under any agreements entered into by the commission.

Amended by Chapter 382, 2008 General Session

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