63A-3-401.5. Definitions. As used in this part:
| (1) |
“Borrower” means a person who borrows money from an infrastructure fund for an infrastructure project. |
Terms Used In Utah Code 63A-3-401.5
| (2) |
“Independent political subdivision” means:
| (a) |
the Utah Inland Port Authority created in Section 11-58-201; |
| (b) |
the Point of the Mountain State Land Authority created in Section 11-59-201; or |
| (c) |
the Military Installation Development Authority created in Section 63H-1-201. |
|
| (3) |
“Infrastructure fund” means a fund created in Subsection 63A-3-402(1). |
| (4) |
“Infrastructure loan” means a loan of infrastructure fund money to finance an infrastructure project. |
| (5) |
“Infrastructure project” means a project to acquire, construct, reconstruct, rehabilitate, equip, or improve public infrastructure and improvements:
| (a) |
within a project area; or |
| (b) |
outside a project area, if the respective loan approval body determines by resolution that the public infrastructure and improvements are of benefit to the project area. |
|
| (6) |
“Inland port” means the same as that term is defined in Section 11-58-102. |
| (7) |
“Inland port fund” means the infrastructure fund created in Subsection 63A-3-402(1)(a). |
| (8) |
“Military development fund” means the infrastructure fund created in Subsection 63A-3-402(1)(c). |
| (9) |
“Point of the mountain fund” means the infrastructure fund created in Subsection 63A-3-402(1)(b). |
| (10) |
“Project area” means:
| (a) |
the same as that term is defined in Section 11-58-102, for purposes of an infrastructure loan from the inland port fund; |
| (b) |
the point of the mountain state land, as defined in Section 11-59-102, for purposes of an infrastructure loan from the point of the mountain fund; and |
| (c) |
the same as that term is defined in Section 63H-1-102, for purposes of an infrastructure loan from the military development fund. |
|
| (11) |
“Property tax revenue” means:
| (a) |
property tax differential, as defined in Section 11-58-102, for purposes of an infrastructure loan from the inland port fund; or |
| (b) |
property tax allocation, as defined in Section 63H-1-102, for purposes of an infrastructure loan from the military development fund. |
|
| (12) |
“Public infrastructure and improvements”:
| (a) |
means the same as that term is defined in Section 11-58-102, for purposes of an infrastructure loan from the inland port fund; |
| (b) |
means publicly owned infrastructure and improvements, as defined in Section 11-59-102, for purposes of an infrastructure loan from the point of the mountain fund; and |
| (c) |
means the same as that term is defined in Section 63H-1-102, for purposes of an infrastructure loan from the military development fund. |
|
| (13) |
“Respective loan approval body” means:
| (a) |
the board created in Section 11-58-301, for purposes of an infrastructure loan from the inland port fund; |
| (b) |
the board created in Section 11-59-301, for purposes of an infrastructure loan from the point of the mountain fund; and |
| (c) |
the committee created in Section 63H-1-104, for purposes of an infrastructure loan from the military development fund. |
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Amended by Chapter 259, 2023 General Session
