Utah Code > Title 11 > Chapter 42a > Part 4 – Energy Assessment Bonds and Refunding Assessment Bonds


§ 11-42a-401	Local entity may authorize the issuance of energy assessment bonds — Limit on amount of bonds — Features of energy assessment bonds
§ 11-42a-402	Energy assessment bond not a local entity’s general obligation — Liability and responsibility of a local entity issuing an energy assessment bond — No state liability
§ 11-42a-403	Refunding assessment bonds
§ 11-42a-404	Reducing assessments after issuance of refunding assessment bonds — Retroactive effect

Terms Used In Utah Code > Title 11 > Chapter 42a > Part 4 - Energy Assessment Bonds and Refunding Assessment Bonds

Board: means the Utah Fire Prevention Board created in Section 53-7-203. See Utah Code 15A-1-102
Deed: The legal instrument used to transfer title in real property from one person to another.

Division: means the Division of Professional Licensing created in Section 58-1-103, except as provided in:

(a)

4; and

(b)

Chapter 5, State Fire Code Act. See Utah Code 15A-1-102

Escrow: Money given to a third party to be held for payment until certain conditions are met.

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}

Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.

Lien: A claim against real or personal property in satisfaction of a debt.

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

Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.

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.

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

Utah Code: means the 1953 recodification of the Utah Code, as amended, unless the text expressly references a portion of the 1953 recodification of the Utah Code as it existed: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