Utah Code § 54-9-107: Disposition of proceeds and revenues.

All money belonging to a public power entity in connection with common facilities, including the proceeds of the sale of bonds and the revenues arising from the operation of common facilities:

(1) may be deposited in a bank or trust company doing business within or without the state; and

(2) shall be accounted for and disbursed in accordance with applicable law and the provisions of the resolution or indenture authorizing the issuance of the bonds.