§ 11-42-601 Interim warrants
§ 11-42-602 Bond anticipation notes
§ 11-42-603 Sources of payment for interim warrants and bond anticipation notes
§ 11-42-604 Notice regarding resolution or ordinance authorizing interim warrants or bond anticipation notes — Complaint contesting warrants or notes — Prohibition against contesting warrants and notes
§ 11-42-605 Local entity may authorize the issuance of assessment bonds — Limit on amount of bonds — Features of assessment bonds
§ 11-42-606 Assessment bonds are not a local entity’s general obligation — Liability and responsibility of a local entity that issues assessment bonds
§ 11-42-607 Refunding assessment bonds
§ 11-42-608 Reducing assessments after issuance of refunding assessment bonds
§ 11-42-609 Validation of previously issued obligations

Terms Used In Utah Code > Title 11 > Chapter 42 > Part 6 - Interim Warrants, Bond Anticipation Notes, Assessment Bonds, and Refunding Assessment Bonds

  • 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
  • Assessment lien: means a lien on property within an assessment area that arises from the levy of an assessment, as provided in Section 11-42-501. See Utah Code 11-42-102
  • Assessment ordinance: means an ordinance adopted by a local entity under Section 11-42-404 that levies an assessment on benefitted property within an assessment area. See Utah Code 11-42-102
  • Assessment resolution: means a resolution adopted by a local entity under Section 11-42-404 that levies an assessment on benefitted property within an assessment area. See Utah Code 11-42-102
  • Authorized officer: means any individual required or permitted by any law or by the issuing public entity to execute on behalf of the public entity, a certificated registered public obligation or a writing relating to an uncertificated registered public obligation. See Utah Code 15-7-2
  • Benefitted property: means property within an assessment area that directly or indirectly benefits from improvements, operation and maintenance, or economic promotion activities. 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
  • Certificated registered public obligation: means a registered public obligation which is represented by an instrument. See Utah Code 15-7-2
  • Code: means the Internal Revenue Code of 1954. See Utah Code 15-7-2
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Contract: A legal written agreement that becomes binding when signed.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Facsimile signature: means the reproduction by engraving, imprinting, stamping, or other means of a manual signature. See Utah Code 15-7-2
  • Financial intermediary: means a bank, broker, clearing corporation or other person, or the nominee of any of them, which in the ordinary course of its business maintains registered public obligation accounts for its customers. See Utah Code 15-7-2
  • 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
  • Guaranty fund: means the fund established by a local entity under Section 11-42-701. See Utah Code 11-42-102
  • Incidental refunding costs: means any costs of issuing refunding assessment bonds and calling, retiring, or paying prior bonds, including:
    (a) legal and accounting fees;
    (b) charges of financial advisors, escrow agents, certified public accountant verification entities, and trustees;
    (c) underwriting discount costs, printing costs, the costs of giving notice;
    (d) any premium necessary in the calling or retiring of prior bonds;
    (e) fees to be paid to the local entity to issue the refunding assessment bonds and to refund the outstanding prior bonds;
    (f) any other costs that the governing body determines are necessary and proper to incur in connection with the issuance of refunding assessment bonds; and
    (g) any interest on the prior bonds that is required to be paid in connection with the issuance of the refunding assessment bonds. See Utah Code 11-42-102
  • 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
  • Interim warrant: means a warrant issued by a local entity under Section 11-42-601. See Utah Code 11-42-102
  • Issuer: means a public entity which issues an obligation. See Utah Code 15-7-2
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • 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
  • Local entity obligations: means assessment bonds, refunding assessment bonds, interim warrants, and bond anticipation notes issued by a local entity. See Utah Code 11-42-102
  • Mailing address: means :
    (a) a property owner's last-known address using the name and address appearing on the last completed real property assessment roll of the county in which the property is located; and
    (b) if the property is improved property:
    (i) the property's street number; or
    (ii) the post office box, rural route number, or other mailing address of the property, if a street number has not been assigned. See Utah Code 11-42-102
  • Month: means a calendar month, unless otherwise expressed. See Utah Code 68-3-12.5
  • 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.
  • Obligation: means an agreement by a public entity to pay principal and any interest on the obligation, whether in the form of a contract to repay borrowed money, a lease, an installment purchase agreement, or otherwise, and includes a share, participation, or other interest in any such agreement. See Utah Code 15-7-2
  • Official actions: means the actions by statute, order, ordinance, resolution, contract, or other authorized means by which the issuer provides for issuance of a registered public obligation. See Utah Code 15-7-2
  • official body: means the person or group of persons that is empowered to provide for the original issuance of an obligation of the issuer, by defining the obligation and its terms, conditions, and other incidents, or to perform duties with respect to a registered public obligation and any successor of such person or group of persons. See Utah Code 15-7-2
  • Overhead costs: means the actual costs incurred or the estimated costs to be incurred by a local entity in connection with an assessment area for appraisals, legal fees, filing fees, financial advisory charges, underwriting fees, placement fees, escrow, trustee, and paying agent fees, publishing and mailing costs, costs of levying an assessment, recording costs, and all other incidental costs. See Utah Code 11-42-102
  • Person: means :Utah Code 68-3-12.5
  • Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
  • Prior bonds: means the assessment bonds that are refunded in part or in whole by refunding assessment bonds. See Utah Code 11-42-102
  • 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
  • Property price: means the price at which a local entity purchases or acquires by eminent domain property to make improvements in an assessment area. See Utah Code 11-42-102
  • Reduced payment obligation: means the full obligation of an owner of property within an assessment area to pay an assessment levied on the property after the assessment has been reduced because of the issuance of refunding assessment bonds, as provided in Section 11-42-608. See Utah Code 11-42-102
  • Refunding assessment bonds: means assessment bonds that a local entity issues under Section 11-42-607 to refund, in part or in whole, assessment bonds. See Utah Code 11-42-102
  • Registered public obligation: means an obligation issued by a public entity which is issued pursuant to a system of registration. See Utah Code 15-7-2
  • Reserve fund: means a fund established by a local entity under Section 11-42-702. See Utah Code 11-42-102
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Signature: includes a name, mark, or sign written with the intent to authenticate an instrument or writing. See Utah Code 68-3-12.5
  • 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
  • Uncertificated registered public obligation: means a registered public obligation which is not represented by an instrument. See Utah Code 15-7-2
  • United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5
  • Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.
  • Writing: includes :Utah Code 68-3-12.5