AGENCY: Treasurer
SERIES: 28589
TITLE: School bond guaranty certificate of eligibility
DATES: 1997-
ARRANGEMENT: Chronological by year.
DESCRIPTION: These records support the agency's function to review the requests of school district boards for the issuance of certificates of eligibility, and to sign and issue the certificates should the state treasurer determine that the school board is solvent (Utah Code 53G-4-803 (2019)). School districts present the certificates to credit-rating agencies to verify that their bonds are eligible for the State School Bond Guaranty Program and can correspondingly receive the State's general obligation bond credit rating. Records may include letters of request, State Office of Education letters of recommendation, and certificates of eligibility.
RETENTION
Retain for 2 year(s)
DISPOSITION
Destroy.
RETENTION AND DISPOSITION AUTHORIZATION
Retention and disposition for this series were specifically approved by the Records Management Committee.
APPROVED: 04/2023
FORMAT MANAGEMENT
Computer data files: Retain in Office for 2 years and then delete.
Paper: Retain in Office for 2 years and then destroy.
APPRAISAL
Fiscal
Issuance of the Certificate of Eligibility, by extending the state's superior credit rating to school districts issuing bonds eligible for guaranty, serves to significantly lower the bonds' interest rates (and correspondingly the costs) on the bonds.
PRIMARY DESIGNATION
Public
SECONDARY DESIGNATION
Private. Utah Code 63G-2-302(2)(d) (2022)