Utah Authorization to increase bonded indebtedness
Description
How to fill out Authorization To Increase Bonded Indebtedness?
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FAQ
A general obligation (GO) bond is secured by an issuing government's pledge to use all available resources ? even tax revenues ? to repay holders of the bond. At the local government level, pledges may include a pledge to levy property taxes to meet the local government's obligation on the bondholders.
Bonded indebtedness means any formally executed written agreement representing a promise by a unit of government to pay to another a specified sum of money, at a specified date or dates at least one year in the future.
Indebtedness or Debt means all moneys now or hereafter owed or liabilities incurred, outright or otherwise, which give rise to an obligation of any Person to perform payment whether in the form of cash or otherwise.
Bonded indebtedness means any formally executed written agreement representing a promise by a unit of government to pay to another a specified sum of money, at a specified date or dates at least one year in the future.
A bond is a debt obligation, like an Iou. Investors who buy corporate bonds are lending money to the company issuing the bond. In return, the company makes a legal commitment to pay interest on the principal and, in most cases, to return the principal when the bond comes due, or matures.