Utah Admin. Code 628-18-4

Current through Bulletin 2024-23, December 1, 2024

Section R628-18-4 - General Requirements

Contracts shall be entered into only under the following conditions:

(1) The Governing Board shall first determine that the Contract or arrangement or a program of Contracts:

(a) is designed to reduce the amount or duration of payment, rate, spread or similar risk, or

(b) is reasonably anticipated to result in a lower cost of borrowing.

(2) Contracts are to be used for the control or management of debt or the cost of servicing debt and not for speculation.

Utah Admin. Code R628-18-4