Terms Used In Utah Code > Title 10 > Chapter 3 > Part 5 - Meetings, Procedure, and Conduct - Voting

• Advance refunding bonds: means refunding bonds issued for the purpose of refunding outstanding bonds in advance of their maturity. See Utah Code 11-27-2
• Assessments: means a special tax levied against property within a special improvement district to pay all or a portion of the costs of making improvements in the district. See Utah Code 11-27-2
• Bond: means any revenue bond, general obligation bond, tax increment bond, special improvement bond, local building authority bond, or refunding bond. See Utah Code 11-27-2
• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• County legislative body: means :Utah Code 68-3-12.5
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Governing body: means the council, commission, county legislative body, board of directors, board of trustees, board of education, board of higher education, or other legislative body of a public body designated in this chapter that is vested with the legislative powers of the public body, and, with respect to the state, the State Bonding Commission created by Section 63B-1-201. See Utah Code 11-27-2
• Governing body: means collectively the legislative body and the executive of any municipality. See Utah Code 10-1-104
• Government obligations: means :

  (a)	direct obligations of the United States of America, or other securities, the principal of and interest on which are unconditionally guaranteed by the United States of America; or

  (b)

  obligations of any state, territory, or possession of the United States, or of any of the political subdivisions of any state, territory, or possession of the United States, or of the District of Columbia described in Section 103(a), Internal Revenue Code of 1986. See Utah Code 11-27-2 Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC Issuer: means the public body issuing any bond or bonds. See Utah Code 11-27-2 Month: means a calendar month, unless otherwise expressed. See Utah Code 68-3-12.5 Municipal: means of or relating to a municipality. See Utah Code 10-1-104 Municipality: means : (a)  a city of the first class, city of the second class, city of the third class, city of the fourth class, city of the fifth class; (b)  a town, as classified in Section 10-2-301; or (c)  a metro township as that term is defined in Section 10-2a-403 unless the term is used in the context of authorizing, governing, or otherwise regulating the provision of municipal services. See Utah Code 10-1-104 National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period. Person: means :Utah Code 68-3-12.5 Property: includes both real and personal property. See Utah Code 68-3-12.5 Public body: means the state or any agency, authority, instrumentality, or institution of the state, or any municipal or quasi-municipal corporation, political subdivision, agency, school district, special district, special service district, or other governmental entity now or hereafter existing under the laws of the state. See Utah Code 11-27-2 Quorum: The number of legislators that must be present to do business. Refunding bonds: means bonds issued under the authority of this chapter for the purpose of refunding outstanding bonds. See Utah Code 11-27-2 Resolution: means a resolution of the governing body of a public body taking formal action under this chapter. See Utah Code 11-27-2 Special improvement bond: means any bond, note, warrant, certificate of indebtedness, or other obligation of a public body or any predecessor of any public body that is payable from assessments levied on benefitted property and from any special improvement guaranty fund. See Utah Code 11-27-2 Special improvement guaranty fund: means any special improvement guaranty fund established under Title 10, Chapter 6, Uniform Fiscal Procedures Act for Utah Cities; Title 11, Chapter 42, Assessment Area Act; or any predecessor or similar statute. See Utah Code 11-27-2 State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5 Statute: A law passed by a legislature. Tax increment bond: means any bond, note, warrant, certificate of indebtedness, or other obligation of a public body issued under authority of Title 17C, Limited Purpose Local Government Entities - Community Reinvestment Agency Act. See Utah Code 11-27-2 Trustee: A person or institution holding and administering property in trust. United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5 Writing: includes :Utah Code 68-3-12.5