Utah Code
Page 10
Chapter 7
Registered Public Obligations Act
15-7-1 Short title.
This act shall be known and may be cited as the "Registered Public Obligations Act."
Enacted by Chapter 62, 1983 General Session
15-7-2 Definitions.
As used in this chapter:
(1) "Authorized officer" means any individual required or permitted by any law or by the issuing
public entity to execute on behalf of the public entity, a certificated registered public obligation
or a writing relating to an uncertificated registered public obligation.
(2) "Certificated registered public obligation" means a registered public obligation which is
represented by an instrument.
(3) "Code" means the Internal Revenue Code of 1954.
(4) "Facsimile seal" means the reproduction by engraving, imprinting, stamping, or other means of
the seal of the issuer, official, or official body.
(5) "Facsimile signature" means the reproduction by engraving, imprinting, stamping, or other
means of a manual signature.
(6) "Financial intermediary" means a bank, broker, clearing corporation or other person, or the
nominee of any of them, which in the ordinary course of its business maintains registered public
obligation accounts for its customers.
(7) "Issuer" means a public entity which issues an obligation.
(8) "Obligation" means an agreement by a public entity to pay principal and any interest on the
obligation, whether in the form of a contract to repay borrowed money, a lease, an installment
purchase agreement, or otherwise, and includes a share, participation, or other interest in any
such agreement.
(9) "Official" or "official body" means the person or group of persons that is empowered to provide
for the original issuance of an obligation of the issuer, by defining the obligation and its
terms, conditions, and other incidents, or to perform duties with respect to a registered public
obligation and any successor of such person or group of persons.
(10) "Official actions" means the actions by statute, order, ordinance, resolution, contract, or other
authorized means by which the issuer provides for issuance of a registered public obligation.
(11) "Public entity" means any entity, department, or agency which is empowered under the laws
of one or more states, territories, possessions of the United States or the District of Columbia,
including this state, to issue obligations any interest with respect to which may, under any
provision of law, be provided an exemption from the income tax referred to in the Code. The
term "public entity" includes, without limitation, this state, an entity deriving powers from and
acting pursuant to a state constitution or legislative act, a county, city, town, a municipal
corporation, a quasi-municipal corporation, a state university or college, a school district,
a special service district, a special district, a separate legal or administrative entity created
under the Interlocal Cooperation Act or other joint agreement entity, a community reinvestment
agency, any other political subdivision, a public authority or public agency, a public trust, a
nonprofit corporation, or other organizations.
(12) "Registered public obligation" means an obligation issued by a public entity which is issued
pursuant to a system of registration.