§ 4-8-101 Title
§ 4-8-102 Purpose declaration
§ 4-8-103 Definition
§ 4-8-104 Department functions, powers, and duties
§ 4-8-105 Unlawful acts specified
§ 4-8-106 Procedure for enforcement — Notice of agency action — Cease and desist order — Enforcement — Judicial review
§ 4-8-107 Defense to claim of illegal activity

Terms Used In Utah Code > Title 4 > Chapter 8

  • Administrator: includes "executor" when the subject matter justifies the use. See Utah Code 68-3-12.5
  • Advance refunding bonds: means refunding bonds issued for the purpose of refunding outstanding bonds in advance of their maturity. See Utah Code 11-27-2
  • Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
  • Agency: means a community reinvestment agency functioning pursuant to Title 17C, Limited Purpose Local Government Entities - Community Reinvestment Agency Act. See Utah Code 11-25-3
  • Agriculture: means the science and art of the production of plants and animals useful to man, including the preparation of plants and animals for human use and disposal by marketing or otherwise. See Utah Code 4-1-109
  • Allegation: something that someone says happened.
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Appointed officer: means any person appointed to any statutory office or position or any other person appointed to any position of employment with a city or with a community reinvestment agency under Title 17C, Limited Purpose Local Government Entities - Community Reinvestment Agency Act. See Utah Code 10-3-1303
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Arrest: Taking physical custody of a person by lawful authority.
  • Assessments: means a special tax levied against property within a special improvement district to pay all or a portion of the costs of making improvements in the district. See Utah Code 11-27-2
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Assist: means to act, or offer or agree to act, in such a way as to help, represent, aid, advise, furnish information to, or otherwise provide assistance to a person or business entity, believing that such action is of help, aid, advice, or assistance to such person or business entity and with the intent to assist such person or business entity. See Utah Code 10-3-1303
  • Attorney general: means the attorney general of the state or one of his assistants. See Utah Code 11-30-2
  • Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
  • Bond: means any revenue bond, general obligation bond, tax increment bond, special improvement bond, local building authority bond, or refunding bond. See Utah Code 11-27-2
  • Bonds: means bonds, notes, or other evidences of indebtedness. See Utah Code 11-17-2
  • Bonds: means any evidence or contract of indebtedness that is issued or authorized by a public body, including, without limitation, bonds, refunding bonds, advance refunding bonds, bond anticipation notes, tax anticipation notes, notes, certificates of indebtedness, warrants, commercial paper, contracts, and leases, whether they are general obligations of the issuing public body or are payable solely from a specified source, including annual appropriations by the public body. See Utah Code 11-30-2
  • Bonds: means any evidence or contract of indebtedness that is issued or authorized by a public body, including, without limitation, bonds, refunding bonds, advance refunding bonds, bond anticipation notes, tax anticipation notes, notes, certificates of indebtedness, warrants, commercial paper, contracts, and leases, whether they are general obligations of the issuing public body or are payable solely from a specified source, including annual appropriations by the public body. See Utah Code 11-31-2
  • Business entity: means a sole proprietorship, partnership, association, joint venture, corporation, firm, trust, foundation, or other organization or entity used in carrying on a business. See Utah Code 10-3-1303
  • Citizen participation: means action by the agency to provide persons who will be affected by residential rehabilitation financed under the provisions of this part with opportunities to be involved in planning and carrying out the residential rehabilitation program. See Utah Code 11-25-3
  • City: means a municipality that is classified by population as a city of the first class, a city of the second class, a city of the third class, a city of the fourth class, or a city of the fifth class, under Section 10-2-301. See Utah Code 10-1-104
  • City: includes , depending on population, a metro township as defined in Section 10-3c-102. See Utah Code 68-3-12.5
  • Commissioner: means the commissioner of agriculture and food. See Utah Code 4-1-109
  • Compensation: means anything of economic value, however designated, which is paid, loaned, granted, given, donated, or transferred to any person or business entity by anyone other than the governmental employer for or in consideration of personal services, materials, property, or any other thing whatsoever. See Utah Code 10-3-1303
  • 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.
  • 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.
  • Council: means the Utah Beef Council created in Section 4-21-103. See Utah Code 4-21-102
  • Council-mayor form of government: means the form of municipal government that:
    (a) 
    (i) is provided for in Laws of Utah 1977, Chapter 48;
    (ii) may not be adopted without voter approval; and
    (iii) consists of two separate, independent, and equal branches of municipal government; and
    (b) on and after May 5, 2008, is described in Part 2, Council-Mayor Form of Municipal Government. See Utah Code 10-3b-102
  • County attorney: means the county attorney of a county or one of his assistants. See Utah Code 11-30-2
  • County legislative body: means :Utah Code 68-3-12.5
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Department: means the Department of Agriculture and Food created in Chapter 2, Administration. See Utah Code 4-1-109
  • Department: means the Utah Department of Agriculture and Food created in Section 4-2-102. See Utah Code 4-21-102
  • Dependent: A person dependent for support upon another.
  • Devise: To gift property by will.
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • Elected officer: means a person:
    (a) elected or appointed to the office of mayor, commissioner, or council member; or
    (b) who is considered to be elected to the office of mayor, commissioner, or council member by a municipal legislative body in accordance with Section 20A-1-206. See Utah Code 10-3-1303
  • Energy efficiency upgrade: means an improvement that is permanently affixed to real property and that is designed to reduce energy consumption, including:
    (a) insulation in:
    (i) a wall, ceiling, roof, floor, or foundation; or
    (ii) a heating or cooling distribution system;
    (b) an insulated window or door, including:
    (i) a storm window or door;
    (ii) a multiglazed window or door;
    (iii) a heat-absorbing window or door;
    (iv) a heat-reflective glazed and coated window or door;
    (v) additional window or door glazing;
    (vi) a window or door with reduced glass area; or
    (vii) other window or door modifications that reduce energy loss;
    (c) an automatic energy control system;
    (d) in a building or a central plant, a heating, ventilation, or air conditioning and distribution system;
    (e) caulking or weatherstripping;
    (f) a light fixture that does not increase the overall illumination of a building unless an increase is necessary to conform with the applicable building code;
    (g) an energy recovery system;
    (h) a daylighting system;
    (i) measures to reduce the consumption of water, through conservation or more efficient use of water, including:
    (i) installation of a low-flow toilet or showerhead;
    (ii) installation of a timer or timing system for a hot water heater; or
    (iii) installation of a rain catchment system; or
    (j) any other modified, installed, or remodeled fixture that is approved as a utility cost-savings measure by the governing body. See Utah Code 11-17-2
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Ex officio: Literally, by virtue of one's office.
  • 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.
  • Felony: A crime carrying a penalty of more than a year in prison.
  • financing: includes the issuing of bonds by a municipality, county, or state university for the purpose of using a portion, or all or substantially all of the proceeds to pay for or to reimburse the user, lender, or the user or lender's designee for the costs of the acquisition of facilities of a project, or to create funds for the project itself where appropriate, whether these costs are incurred by the municipality, the county, the state university, the user, or a designee of the user. See Utah Code 11-17-2
  • Financing: means the lending of money or any other thing of value for the purpose of residential rehabilitation. See Utah Code 11-25-3
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Five-member council form of government: means the form of municipal government described in Part 4, Five-Member Council Form of Municipal Government. See Utah Code 10-3b-102
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Governing body: means collectively the legislative body and the executive of any municipality. See Utah Code 10-1-104
  • Governing body: means :
    (a) for a county, city, town, or metro township, the legislative body of the county, city, town, or metro township;
    (b) for the military installation development authority created in Section 63H-1-201, the board, as defined in Section 63H-1-102;
    (c) for a state university except as provided in Subsection (4)(d), the board or body having the control and supervision of the state university; and
    (d) for a nonprofit corporation or foundation created by and operating under the auspices of a state university, the board of directors or board of trustees of that corporation or foundation. See Utah Code 11-17-2
  • Governing body: means the council, commission, county legislative body, board of directors, board of trustees, board of education, board of regents, or other legislative body of a public body designated in this chapter that is vested with the legislative powers of the public body, and, with respect to the state, the State Bonding Commission created by Section 63B-1-201. See Utah Code 11-27-2
  • Government obligations: means :
    (a) direct obligations of the United States of America, or other securities, the principal of and interest on which are unconditionally guaranteed by the United States of America; or
    (b) obligations of any state, territory, or possession of the United States, or of any of the political subdivisions of any state, territory, or possession of the United States, or of the District of Columbia described in Section 103(a), Internal Revenue Code of 1986. See Utah Code 11-27-2
  • Industrial park: includes the development of the land for an industrial park under this chapter or the acquisition and provision of water, sewerage, drainage, street, road, sidewalk, curb, gutter, street lighting, electrical distribution, railroad, or docking facilities, or any combination of them, but only to the extent that these facilities are incidental to the use of the land as an industrial park. See Utah Code 11-17-2
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • 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
  • Issuer: means the public body issuing any bond or bonds. See Utah Code 11-27-2
  • 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
  • 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
  • Lease: means any lease agreement, lease purchase agreement, and installment purchase agreement, and any certificate of interest or participation in any of the foregoing. See Utah Code 11-30-2
  • Lender: means a trust company, savings bank, savings and loan association, bank, credit union, or any other lending institution that lends, loans, or leases proceeds of a financing to the user or a user's designee. See Utah Code 11-17-2
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Livestock: means cattle, sheep, goats, swine, horses, mules, poultry, domesticated elk as defined in Section 4-39-102, or any other domestic animal or domestic furbearer raised or kept for profit. See Utah Code 4-1-109
  • Marketing agency: means a person who acts as an agent of the seller in the sale of cattle in that the person issues payment to the seller and is entitled to a commission based upon the sale. See Utah Code 4-21-102
  • Metro township: means the same as that term is defined in Section 10-2a-403. See Utah Code 10-3b-102
  • Metro township council form of government: means the form of metro township government described in Part 5, Metro Township Council Form of Municipal Government. See Utah Code 10-3b-102
  • Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
  • Month: means a calendar month, unless otherwise expressed. See Utah Code 68-3-12.5
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgage: means a mortgage, trust deed, or other security device. See Utah Code 11-17-2
  • Municipal: means of or relating to a municipality. See Utah Code 10-1-104
  • Municipal employee: means a person who is not an elected or appointed officer who is employed on a full- or part-time basis by a municipality or by a community reinvestment agency under Title 17C, Limited Purpose Local Government Entities - Community Reinvestment Agency Act. See Utah Code 10-3-1303
  • Municipality: means :
    (a) a city of the first class, city of the second class, city of the third class, city of the fourth class, city of the fifth class;
    (b) a town, as classified in Section 10-2-301; or
    (c) a metro township as that term is defined in Section 10-2a-403 unless the term is used in the context of authorizing, governing, or otherwise regulating the provision of municipal services. See Utah Code 10-1-104
  • Municipality: means any incorporated city, town, or metro township in the state, including cities or towns operating under home rule charters. See Utah Code 11-17-2
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • Oath: includes "affirmation. 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.
  • Oversight: Committee review of the activities of a Federal agency or program.
  • Participating party: means any person, company, corporation, partnership, firm, agency, political subdivision of the state, or other entity or group of entities requiring financing for residential rehabilitation pursuant to the provisions of this part. See Utah Code 11-25-3
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Person: means a natural person or individual, corporation, organization, or other legal entity. See Utah Code 4-1-109
  • Person: means an individual, corporation, partnership, organization, association, trust, governmental agency, or any other legal entity. See Utah Code 10-1-104
  • Person: means :Utah Code 68-3-12.5
  • Person: means any person, association, corporation, or other entity. See Utah Code 11-30-2
  • Personal property: includes :Utah Code 68-3-12.5
  • Pollution: means any form of environmental pollution including water pollution, air pollution, pollution caused by solid waste disposal, thermal pollution, radiation contamination, or noise pollution. See Utah Code 11-17-2
  • Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
  • Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5
  • product of agriculture: means any product that is derived from agriculture, including any product derived from aquaculture as defined in Section 4-37-103. See Utah Code 4-1-109
  • products of agriculture: means any product useful to the human species that results from the application of the science and art of the production of plants, minerals, and animals. See Utah Code 4-8-103
  • Project: means :
    (i) an industrial park, land, interest in land, building, structure, facility, system, fixture, improvement, appurtenance, machinery, equipment, or any combination of them, whether or not in existence or under construction:
    (A) that is suitable for industrial, manufacturing, warehousing, research, business, and professional office building facilities, commercial, shopping services, food, lodging, low income rental housing, recreational, or any other business purposes;
    (B) that is suitable to provide services to the general public;
    (C) that is suitable for use by any corporation, person, or entity engaged in health care services, including hospitals, nursing homes, extended care facilities, facilities for the care of persons with a physical or mental disability, and administrative and support facilities; or
    (D) that is suitable for use by a state university for the purpose of aiding in the accomplishment of its authorized academic, scientific, engineering, technical, and economic development functions;
    (ii) any land, interest in land, building, structure, facility, system, fixture, improvement, appurtenance, machinery, equipment, or any combination of them, used by any individual, partnership, firm, company, corporation, public utility, association, trust, estate, political subdivision, state agency, or any other legal entity, or its legal representative, agent, or assigns, for the reduction, abatement, or prevention of pollution, including the removal or treatment of any substance in process material, if that material would cause pollution if used without the removal or treatment;
    (iii) an energy efficiency upgrade;
    (iv) a renewable energy system;
    (v) facilities, machinery, or equipment, the manufacturing and financing of which will maintain or enlarge domestic or foreign markets for Utah industrial products; or
    (vi) any economic development or new venture investment fund to be raised other than from:
    (A) municipal or county general fund money;
    (B) money raised under the taxing power of any county or municipality; or
    (C) money raised against the general credit of any county or municipality. See Utah Code 11-17-2
  • Property: includes both real and personal property. See Utah Code 68-3-12.5
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • Public body: means the state or any agency, authority, instrumentality, or institution of the state, or any municipal or quasi-municipal corporation, political subdivision, agency, school district, local district, special service district, or other governmental entity now or hereafter existing under the laws of the state. See Utah Code 11-27-2
  • Public body: means the state or any agency, authority, instrumentality, or institution of the state, or any county, municipality, quasi-municipal corporation, school district, local district, special service district, political subdivision, or other governmental entity existing under the laws of the state, whether or not possessed of any taxing power. See Utah Code 11-30-2
  • Public body: means the state and any public department, public agency, or other public entity existing under the laws of the state, including, without limitation, any agency, authority, instrumentality, or institution of the state, and any county, city, town, municipal corporation, quasi-municipal corporation, state university or college, school district, special service district, local district, separate legal or administrative entity created under the Interlocal Cooperation Act or other joint agreement entity, community reinvestment agency, and any other political subdivision, public authority, public agency, or public trust existing under the laws of the state. See Utah Code 11-31-2
  • Purchaser: means a person who buys cattle. See Utah Code 4-21-102
  • real property: includes :Utah Code 68-3-12.5
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • Refunding bonds: means bonds issued under the authority of this chapter for the purpose of refunding outstanding bonds. See Utah Code 11-27-2
  • Refunding bonds: means any bonds that are issued to refund outstanding bonds, including both refunding bonds and advance refunding bonds. See Utah Code 11-30-2
  • Renewable energy system: means a product, system, device, or interacting group of devices that is permanently affixed to real property and that produces energy from renewable resources, including:
    (a) a photovoltaic system;
    (b) a solar thermal system;
    (c) a wind system;
    (d) a geothermal system, including:
    (i) a direct-use system; or
    (ii) a ground source heat pump system;
    (e) a micro-hydro system; or
    (f) another renewable energy system approved by the governing body. See Utah Code 11-17-2
  • Residence: means a residential structure in residential rehabilitation areas. See Utah Code 11-25-3
  • Residential rehabilitation: means the construction, reconstruction, renovation, replacement, extension, repair, betterment, equipping, developing, embellishing, or otherwise improving residences consistent with standards of strength, effectiveness, fire resistance, durability, and safety, so that the structures are satisfactory and safe to occupy for residential purposes and are not conducive to ill health, transmission of disease, infant mortality, juvenile delinquency, or crime because of any one or more of the following factors:
    (a) defective design and character of physical construction;
    (b) faulty interior arrangement and exterior spacing;
    (c) high density of population and overcrowding;
    (d) inadequate provision for ventilation, light, sanitation, open spaces, and recreation facilities;
    (e) age, obsolescence, deterioration, dilapidation, mixed character, or shifting of uses; and
    (f) economic dislocation, deterioration, or disuse, resulting from faulty planning. See Utah Code 11-25-3
  • Residential rehabilitation area: means the geographical area designated by the agency as one for inclusion in a comprehensive residential rehabilitation financing program pursuant to the provisions of this chapter. See Utah Code 11-25-3
  • Resolution: means a resolution of the governing body of a public body taking formal action under this chapter. See Utah Code 11-27-2
  • Road: includes :Utah Code 68-3-12.5
  • Six-member council form of government: means the form of municipal government described in Part 3, Six-Member Council Form of Municipal Government. See Utah Code 10-3b-102
  • Special improvement bond: means any bond, note, warrant, certificate of indebtedness, or other obligation of a public body or any predecessor of any public body that is payable from assessments levied on benefitted property and from any special improvement guaranty fund. See Utah Code 11-27-2
  • Special improvement guaranty fund: means any special improvement guaranty fund established under Title 10, Chapter 6, Uniform Fiscal Procedures Act for Utah Cities; Title 11, Chapter 42, Assessment Area Act; or any predecessor or similar statute. See Utah Code 11-27-2
  • 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
  • State: means the state of Utah. See Utah Code 11-30-2
  • State university: means an institution of higher education as described in Section 53B-2-101 and includes any nonprofit corporation or foundation created by and operating under their authority. See Utah Code 11-17-2
  • Statute: A law passed by a legislature.
  • Substantial interest: means the ownership, either legally or equitably, by an individual, the individual's spouse, or the individual's minor children, of at least 10% of the outstanding shares of a corporation or 10% interest in any other business entity. See Utah Code 10-3-1303
  • Tax increment bond: means any bond, note, warrant, certificate of indebtedness, or other obligation of a public body issued under authority of Title 17C, Limited Purpose Local Government Entities - Community Reinvestment Agency Act. See Utah Code 11-27-2
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
  • Town: means a municipality classified by population as a town under Section 10-2-301. See Utah Code 10-1-104
  • Town: includes , depending on population, a metro township as defined in Section 10-3c-102. See Utah Code 68-3-12.5
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • Trustee: A person or institution holding and administering property in trust.
  • Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
  • United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5
  • User: means the person, whether natural or corporate, who will occupy, operate, maintain, and employ the facilities of, or manage and administer a project after the financing, acquisition, or construction of it, whether as owner, manager, purchaser, lessee, or otherwise. See Utah Code 11-17-2
  • 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
  • Validity: means any matter relating to the legality and validity of the bonds and the security therefor, including, without limitation, the legality and validity of:
    (a) a public body's authority to issue and deliver the bonds;
    (b) any ordinance, resolution, or statute granting the public body authority to issue and deliver the bonds;
    (c) all proceedings, elections, if any, and any other actions taken or to be taken in connection with the issuance, sale, or delivery of the bonds;
    (d) the purpose, location, or manner of the expenditure of funds;
    (e) the organization or boundaries of the public body;
    (f) any assessments, taxes, rates, rentals, fees, charges, or tolls levied or that may be levied in connection with the bonds;
    (g) any lien, proceeding, or other remedy for the collection of those assessments, taxes, rates, rentals, fees, charges, or tolls;
    (h) any contract or lease executed or to be executed in connection with the bonds;
    (i) the pledge of any taxes, revenues, receipts, rentals, or property, or encumbrance thereon or security interest therein to secure the bonds; and
    (j) any covenants or provisions contained in or to be contained in the bonds. See Utah Code 11-30-2
  • 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.
  • Veto: The procedure established under the Constitution by which the President/Governor refuses to approve a bill or joint resolution and thus prevents its enactment into law. A regular veto occurs when the President/Governor returns the legislation to the house in which it originated. The President/Governor usually returns a vetoed bill with a message indicating his reasons for rejecting the measure. In Congress, the veto can be overridden only by a two-thirds vote in both the Senate and the House.
  • Writing: includes :Utah Code 68-3-12.5
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