11-42-604 - Notice regarding resolution or ordinance authorizing interim warrants or bond anticipation notes -- Complaint contesting warrants or notes -- Prohibition against contesting warrants and no
11-42-604. Notice regarding resolution or ordinance authorizing interim warrantsor bond anticipation notes -- Complaint contesting warrants or notes -- Prohibition againstcontesting warrants and notes.
(1) A local entity may publish notice, as provided in Subsection (2), of a resolution orordinance that the governing body has adopted authorizing the issuance of interim warrants orbond anticipation notes.
(2) (a) If a local entity chooses to publish notice under Subsection (1)(a), the notice shall:
(i) be published:
(A) in a newspaper of general circulation within the local entity; and
(B) as required in Section 45-1-101; and
(ii) contain:
(A) the name of the issuer of the interim warrants or bond anticipation notes;
(B) the purpose of the issue;
(C) the maximum principal amount that may be issued;
(D) the maximum length of time over which the interim warrants or bond anticipationnotes may mature;
(E) the maximum interest rate, if there is a maximum rate; and
(F) the times and place where a copy of the resolution or ordinance may be examined, asrequired under Subsection (2)(b).
(b) The local entity shall allow examination of the resolution or ordinance authorizingthe issuance of the interim warrants or bond anticipation notes at its office during regularbusiness hours.
(3) Any person may, within 30 days after publication of a notice under Subsection (1),file a verified, written complaint in the district court of the county in which the person resides,contesting the regularity, formality, or legality of the interim warrants or bond anticipation notesissued by the local entity or the proceedings relating to the issuance of the interim warrants orbond anticipation notes.
(4) After the 30-day period under Subsection (3), no person may contest the regularity,formality, or legality of the interim warrants or bond anticipation notes issued by a local entityunder the resolution or ordinance that was the subject of the notice under Subsection (1), or theproceedings relating to the issuance of the interim warrants or bond anticipation notes.
Amended by Chapter 388, 2009 General Session