Terms Used In Utah Code > Title 17D > Chapter 4 > Part 3 - Bond Issuance, Fee Collection, and Property Tax Levy Authority for a Public Infrastructure District

• Advisory council: means an advisory council appointed by the Division of Outdoor Recreation that has within the advisory council's duties advising on policies related to the use of off-highway vehicles. See Utah Code 41-22-2
• Appraisal: A determination of property value.
• Board: means the board of trustees of a public infrastructure district. See Utah Code 17D-4-102
• Commission: means the Outdoor Adventure Commission. See Utah Code 41-22-2
• 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.
• Creating entity: means the county, municipality, or development authority that approves the creation of a public infrastructure district. See Utah Code 17D-4-102
• Division: means the Division of Outdoor Recreation. See Utah Code 41-22-2
• 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 document: means the document governing a public infrastructure district to which the creating entity agrees before the creation of the public infrastructure district, as amended from time to time, and subject to the limitations of Title 17B, Chapter 1, Provisions Applicable to All Special Districts, and this chapter. See Utah Code 17D-4-102
• Highway: includes :Utah Code 68-3-12.5
• 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.
• Land: includes :Utah Code 68-3-12.5
• Lawsuit: A legal action started by a plaintiff against a defendant based on a complaint that the defendant failed to perform a legal duty, resulting in harm to the plaintiff.
• Limited tax bond: means a bond:

  (i)	that is directly payable from and secured by ad valorem property taxes that are levied: (A)  by a public infrastructure district that issues the bond; and (B)  on taxable property within the district;

  (ii)	that is a general obligation of the public infrastructure district; and

  (iii)

  for which the ad valorem property tax levy for repayment of the bond does not exceed the property tax levy rate limit established under Section 17D-4-303 for any fiscal year, except as provided in Subsection 17D-4-301(8). See Utah Code 17D-4-102 Manufacturer: means a person engaged in the business of manufacturing off-highway vehicles. See Utah Code 41-22-2 Motor vehicle: includes an off-highway vehicle. See Utah Code 41-22-2 Motorcycle: means every motor vehicle having a saddle for the use of the operator and designed to travel on not more than two tires. See Utah Code 41-22-2 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. Off-highway vehicle: means any snowmobile, all-terrain type I vehicle, all-terrain type II vehicle, all-terrain type III vehicle, or motorcycle. See Utah Code 41-22-2 Operator: means the person who is in actual physical control of an off-highway vehicle. See Utah Code 41-22-2 Owner: means a person, other than a person with a security interest, having a property interest or title to an off-highway vehicle and entitled to the use and possession of that vehicle. See Utah Code 41-22-2 Person: means :Utah Code 68-3-12.5 Property: includes both real and personal property. See Utah Code 68-3-12.5 Road: includes :Utah Code 68-3-12.5 Snowmobile: means any motor vehicle designed for travel on snow or ice and steered and supported in whole or in part by skis, belts, cleats, runners, or low pressure tires. See Utah Code 41-22-2 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 Summons: Another word for subpoena used by the criminal justice system.