AGENCY: Board of Regents (Utah). Higher Education Assistance Authority

SERIES: 21780
TITLE: Bond information records
DATES: 1988-
ARRANGEMENT: Chronological by bond maturity date

DESCRIPTION: These records document bonds which are issued. Information includes the draft prospectus ("red herring") and final proposal, which delineates how the bonds are paid out, where the money comes from, and how they are secured. Information may also include bond financing documentation such as general ledgers. Both the draft and final proposals are retained for comparison purposes for litigation.

RETENTION

Retain for 10 year(s) after final action

DISPOSITION

Destroy.

RETENTION AND DISPOSITION AUTHORIZATION

Retention and disposition for this series were specifically approved by the State Records Committee.

APPROVED: 06/1999

FORMAT MANAGEMENT

Paper: Retain in Office for 1 month after bond maturity and then transfer to State Records Center. Retain in State Records Center for 119 months and then destroy.

APPRAISAL

Fiscal Legal

This disposition is based on the value these records hold during litigation, particularly when individuals who purchased bonds during the "red herring" stage bring suit. After 10 years, most claims and all audit requirements have been met.

PRIMARY DESIGNATION

Public