{"data":{"id":"us-ut/utah-code-17c-1-502","jurisdiction":"us-ut","citation":"Utah Code § 17C-1-502","heading":"Sources from which bonds may be made payable -- Agency powers regarding bonds.","body":"(1) An agency may pay the principal and interest on a bond issued by the agency from:\n(a) the income and revenues of the project area development financed with the proceeds of the bond;\n(b) the income and revenue of certain designated project area development regardless of whether the project area development is financed in whole or in part with the proceeds of the bond;\n(c) the income, proceeds, revenue, property, or agency funds derived from or held in connection with the agency's undertaking and implementation of project area development;\n(d) project area funds;\n(e) agency revenues generally;\n(f) a contribution, loan, grant, or other financial assistance from a public entity in aid of project area development, including the assignment of revenue or taxes in support of an agency bond;\n(g) project area incremental revenue or property tax revenue as those terms are defined in Section 17C-1-1001; or\n(h) funds derived from any combination of the methods listed in Subsections (1)(a) through (g).\n(2) In connection with the issuance of an agency bond, an agency may:\n(a) pledge all or any part of the agency's gross or net rents, fees, or revenues to which the agency's right then exists or may thereafter come into existence;\n(b) encumber by mortgage, deed of trust, or otherwise all or any part of the agency's real or personal property, then owned or thereafter acquired; and\n(c) make the covenants and take the action that:\n(i) may be necessary, convenient, or desirable to secure the bond; or\n(ii) except as otherwise provided in this chapter, will tend to make the bond more marketable, even though such covenants or actions are not specifically enumerated in this chapter.","path":["Title 17C Limited Purpose Local Government Entities - Community Reinvestment Agency Act","Chapter 17C-1 Agency Operations","Part 17C-1-5 Agency Bonds"],"source_url":"https://le.utah.gov/xcode/Title17C/Chapter1/17C-1-S502.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:33Z","sha256":"8fdfda9e6eec4360ee9ceb2b14dbc2ad8d48a667ca0f4c610147eeec2089aad8","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-17c-1-501.5","next":"us-ut/utah-code-17c-1-503"},"notice":"GroundRules: Original legal text. Not legal advice."}