63B-6-301 - Definitions. - Utah Statutes

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63B-6-301. Definitions.
As used in this part:
(1) "Bond anticipation note" means a note issued in anticipation of the receipt of theproceeds of the sale of the bonds authorized under Part 2 of this chapter.
(2) "Flexible note" means a bond anticipation note whose interest is payable at, and onone or more dates before, maturity.
(3) (a) "Short-term series note" means a bond anticipation note that is one of a series ofnotes issued pursuant to a financing program under which it is expected that:
(i) each note will be paid from the proceeds of one or more renewal notes of that series;and
(ii) the final note or notes of the series will be paid from:
(A) the proceeds of bonds in anticipation of the receipt of which the note or notes wereissued; or
(B) money of the state on hand and legally available for that purpose.
(b) "Short-term series note" includes any note issued pursuant to a revolving creditagreement or other similar liquidity facility for the purpose of renewing or paying outstandingshort-term series notes on their stated maturity dates when those short-term series notes are notrenewed or paid from the proceeds of one or more other renewal notes of the series.

Enacted by Chapter 270, 1997 General Session

State Codes and Statutes

Statutes > Utah > Title-63b > Chapter-06 > 63b-6-301

63B-6-301. Definitions.
As used in this part:
(1) "Bond anticipation note" means a note issued in anticipation of the receipt of theproceeds of the sale of the bonds authorized under Part 2 of this chapter.
(2) "Flexible note" means a bond anticipation note whose interest is payable at, and onone or more dates before, maturity.
(3) (a) "Short-term series note" means a bond anticipation note that is one of a series ofnotes issued pursuant to a financing program under which it is expected that:
(i) each note will be paid from the proceeds of one or more renewal notes of that series;and
(ii) the final note or notes of the series will be paid from:
(A) the proceeds of bonds in anticipation of the receipt of which the note or notes wereissued; or
(B) money of the state on hand and legally available for that purpose.
(b) "Short-term series note" includes any note issued pursuant to a revolving creditagreement or other similar liquidity facility for the purpose of renewing or paying outstandingshort-term series notes on their stated maturity dates when those short-term series notes are notrenewed or paid from the proceeds of one or more other renewal notes of the series.

Enacted by Chapter 270, 1997 General Session

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State Codes and Statutes

Statutes > Utah > Title-63b > Chapter-06 > 63b-6-301

63B-6-301. Definitions.
As used in this part:
(1) "Bond anticipation note" means a note issued in anticipation of the receipt of theproceeds of the sale of the bonds authorized under Part 2 of this chapter.
(2) "Flexible note" means a bond anticipation note whose interest is payable at, and onone or more dates before, maturity.
(3) (a) "Short-term series note" means a bond anticipation note that is one of a series ofnotes issued pursuant to a financing program under which it is expected that:
(i) each note will be paid from the proceeds of one or more renewal notes of that series;and
(ii) the final note or notes of the series will be paid from:
(A) the proceeds of bonds in anticipation of the receipt of which the note or notes wereissued; or
(B) money of the state on hand and legally available for that purpose.
(b) "Short-term series note" includes any note issued pursuant to a revolving creditagreement or other similar liquidity facility for the purpose of renewing or paying outstandingshort-term series notes on their stated maturity dates when those short-term series notes are notrenewed or paid from the proceeds of one or more other renewal notes of the series.

Enacted by Chapter 270, 1997 General Session