Utah Department of Administrative Services

Division of Archives & Records Service

Municipal Schedule 2 Bonds and Bonding Records

 

 

BOND ANTICIPATION NOTES (Item 2-1)

These are notes used by municipalities pursuant to an appropriation resolution for bonds in anticipation of payable ad valorem taxes and constitute a full obligation of the municipality, "the bond anticipation notes and the interest on them shall be secured by a pledge of the full faith and credit of the municipality" (UCA 11-14-19.5 (1997)) in "the manner and subject to conditions of the Utah Municipal Bond Act" (UCA 11-14 (1997)).

Retention

Retain for 1 year after being redeemed and then destroy.

Suggested Primary Designation

Public.

(Approved 11/96)

 

BOND ISSUE FILES (Item 2-2)

These files document the implementation of significant municipal bonds (i.e., revenue or special bonds), but not general obligation bonds. These files include authorizations supporting financial data, contracts or sales agreements, destruction certificates, and sample copies of bonds sold as evidence of municipal indebtedness.

Retention

Permanent. May be transferred to the State Archives.

Suggested Primary Designation

Public.

(Approved 11/96)

 

BOND REDEMPTION AND DESTRUCTION CERTIFICATES (Item 2-6)

These are certificates sent to the municipality by the paying agent which track pay and destruction of bond coupons.

Retention

Retain for 3 years after expiration of bonds and then file in Bond Issue Files.

Suggested Primary Designation

Public.

(Approved 03/89)

 

BOND REDEMPTION REGISTERS (Item 2-3)

These are registers used to record the redemption of coupons for municipal bonds.

Retention

Retain for 3 years after redemption of coupon and then destroy.

Suggested Primary Designation

Public.

(Approved 03/89)

 

BOND REGISTRATION FILES (Item 2-4)

These are the issuing agent's copies of bond registration stubs.

Retention

Retain for 2 years and then destroy.

Suggested Primary Designation

Public.

(Approved 03/89)

 

BONDS, NOTES AND COUPONS PAID FILES (Item 2-5)

These are the actual bonds and coupons redeemed throughout the lifetime of the bond.

Retention

Retain for 1 year after being redeemed and then destroy.

Suggested Primary Designation

Public.

(Approved 11/96)

 

EMPLOYEE BONDS (Item 2-7)

These are bonds with good and sufficient sureties, payable to the municipality for the "elected officers of each municipality and the treasurer in cities of the first and second class before taking the oath of office" to guarantee "faithful performance of the duties of the respective officers." Bonds are placed at such amounts as may be determined by the governing body (UCA 10-3-819 (1997)).

Retention

Retain for 3 years after expiration of bond and then destroy.

Suggested Primary Designation

Public.

(Approved 03/89)

 

FIDELITY BONDS (Item 2-8)

This is the municipal treasurer's bond to protect the municipality and to guarantee fidelity of the treasurer. The bond usually covers four years and "may be set by resolution or ordinance in any amount, not less than that established by the state money management council" (UCA 10-3-821 (1997)).

Retention

Retain for 3 years after expiration and then destroy.

Suggested Primary Designation

Public.

(Approved 03/89)

 

GENERAL OBLIGATION BONDS (Item 2-9)

These bonds constitute general obligations of the municipality, for the prompt and punctual payment of principal or interest on which the full faith and credit of the municipality are pledged. These issued bonds are not payable solely from revenues other than those derived from ad valorem taxes. The revenue derived from the sale of bonds shall be applied only to the purpose specified in the order of the municipal legislative body (UCA 11-14-19 (1997)).

Retention

Retain for 1 year after being paid or canceled and then destroy.

Suggested Primary Designation

Public.

(Approved 11/96)

 

MUNICIPAL REVENUE BONDS (Item 2-10)

These bonds are issued by the city council payable solely from revenues attributable to the extension and improvement to revenue producing facilities (UCA 11-14-17 (1997)).

Retention

Retain for 1 year after being paid or canceled and then destroy.

Suggested Primary Designation

Public.

(Approved 11/96)

 

NOTARY BONDS (Item 2-11)

These are $5,000.00 bonds that are required to be filed with and approved by the State Division of Corporations and Commercial Code for a term of four years (UCA 46-1-4 (1997)).

Retention

Retain for 3 years after expiration of bond and then destroy.

Suggested Primary Designation

Public.

Suggested Secondary Designation

Private:UCA 63G-2-302 (Application Form)

(Approved 03/89)

 

SPECIAL IMPROVEMENT BONDS (Item 2-12)

The governing body of the municipality levying the assessment, by ordinance or resolution, may authorize the issuance of special improvement bonds to pay costs of improvements in the district against funds created by the assessment (UCA 17A-3-328 (1997)).

Retention

Retain until "paid or canceled" (UCA 11-14-14(2c) (1997)) and then destroy.

Suggested Primary Designation

Public.

(Approved 03/89)