Terms Used In Utah Code > Title 11 > Chapter 42 > Part 3 - Contracts for Improvements

• Assessment area: means an area, or, if more than one area is designated, the aggregate of all areas within a local entity's jurisdictional boundaries that is designated by a local entity under 2, for the purpose of financing the costs of improvements, operation and maintenance, or economic promotion activities that benefit property within the area. See Utah Code 11-42-102
• Assessment bonds: means bonds that are:

  (a)	issued under Section 11-42-605; and

  (b)

  payable in part or in whole from assessments levied in an assessment area, improvement revenues, and a guaranty fund or reserve fund. See Utah Code 11-42-102 Bond anticipation notes: means notes issued under Section 11-42-602 in anticipation of the issuance of assessment bonds. See Utah Code 11-42-102 Bonds: means assessment bonds and refunding assessment bonds. See Utah Code 11-42-102 Contract: A legal written agreement that becomes binding when signed. Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller. Governing body: means : (a)  for a county, city, or town, the legislative body of the county, city, or town; (b)  for a special district, the board of trustees of the special district; (c)  for a special service district: (i)  the legislative body of the county, city, or town that established the special service district, if no administrative control board has been appointed under Section 17D-1-301; or (ii)  the administrative control board of the special service district, if an administrative control board has been appointed under Section 17D-1-301; (d)  for the military installation development authority created in Section 63H-1-201, the board, as defined in Section 63H-1-102; (e)  for the Utah Inland Port Authority, created in Section 11-58-201, the board, as defined in Section 11-58-102; and (f)  for a public infrastructure district, the board of the public infrastructure district as defined in Section 17D-4-102. See Utah Code 11-42-102 Local entity: means : (a)  a county, city, town, special service district, or special district; (b)  an interlocal entity as defined in Section 11-13-103; (c)  the military installation development authority, created in Section 63H-1-201; (d)  a public infrastructure district under Title 17D, Chapter 4, Public Infrastructure District Act, including a public infrastructure district created by a development authority; (e)  the Utah Inland Port Authority, created in Section 11-58-201; or (f)  any other political subdivision of the state. See Utah Code 11-42-102 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. Oversight: Committee review of the activities of a Federal agency or program. Project engineer: means the surveyor or engineer employed by or the private consulting engineer engaged by a local entity to perform the necessary engineering services for and to supervise the construction or installation of the improvements. See Utah Code 11-42-102 Property: includes real property and any interest in real property, including water rights and leasehold rights. See Utah Code 11-42-102 Public agency: means : (a)  the state or any agency, department, or division of the state; and (b)  a political subdivision of the state. See Utah Code 11-42-102 Service: means : (a)  water, sewer, storm drainage, garbage collection, library, recreation, communications, or electric service; (b)  economic promotion activities; or (c)  any other service that a local entity is required or authorized to provide. See Utah Code 11-42-102