Terms Used In Utah Code > Title 16 > Chapter 12 - Real Estate Investment Trust Act

• Authority: means the Point of the Mountain State Land Authority, created in Section 11-59-201. See Utah Code 11-59-102
• Board: means the authority's board, created in Section 11-59-301. See Utah Code 11-59-102
• City: includes , depending on population, a metro township as defined in Section 10-3c-102. See Utah Code 68-3-12.5
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Facilities division: means the Division of Facilities Construction and Management, created in Section 63A-5b-301. See Utah Code 11-59-102
• Land: includes :Utah Code 68-3-12.5
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• 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
• Point of the mountain state land: means the approximately 700 acres of state-owned land in Draper, including land used for the operation of a state correctional facility until completion of the new correctional facility and state-owned land in the vicinity of the current state correctional facility. See Utah Code 11-59-102
• Property: includes both real and personal property. See Utah Code 68-3-12.5
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• Quorum: The number of legislators that must be present to do business.
• 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
• Taxing entity: means the same as that term is defined in Section 59-2-102. See Utah Code 11-59-102
• Trustee: A person or institution holding and administering property in trust.