Terms Used In Utah Code > Title 53G > Chapter 5 > Part 6 - Charter School Credit Enhancement Program

• 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
• Authority: means the Utah Charter School Finance Authority created by this part. See Utah Code 53G-5-601
• authorizer: means an entity listed in Section 53G-5-205 that authorizes a charter school. See Utah Code 53G-5-102
• Board: means the governing board of the authority described in Section 53G-5-602. See Utah Code 53G-5-601
• Charter school: means a school created under this chapter. See Utah Code 53G-5-601
• City: includes , depending on population, a metro township as defined in Section 10-3c-102. See Utah Code 68-3-12.5
• Credit enhancement program: means the Charter School Credit Enhancement Program established in Section 53G-5-606. See Utah Code 53G-5-601
• Debt service reserve fund: means the reserve fund created or established by, or for the benefit of, a qualifying charter school for the purpose of paying principal of and interest on bonds issued under the credit enhancement program as the payments become due and other money of the qualifying charter school is not available to make the payments. See Utah Code 53G-5-601
• Debt service reserve fund requirement: means , as of a particular date of computation, and with respect to a particular issue of bonds, the amount required to be on deposit in the debt service reserve fund, which amount:

  (a)	may be a sum certain or as set forth in a formula; and

  (b)

  may not be less than the maximum annual debt service requirement for the related bonds. See Utah Code 53G-5-601 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 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 Project: means : (a)  any building, structure, or property owned, to be acquired, or used by a charter school for any of its educational purposes and the related appurtenances, easements, rights-of-way, improvements, paving, utilities, landscaping, parking facilities, and lands; or (b)  any capital equipment owned, to be acquired, or used by a charter school for any of its educational purposes, interests in land, and grounds, together with the personal property necessary, convenient, or appurtenant to them. See Utah Code 53G-5-601 Property: includes both real and personal property. See Utah Code 68-3-12.5 Qualifying charter school: means a charter school that: (a)  meets standards adopted by the authority for participation in the credit enhancement program; and (b)  is designated by the authority as a qualifying charter school for purposes of participation in the credit enhancement program. See Utah Code 53G-5-601 Reserve account: means the Charter School Reserve Account created in Section 53F-9-303. See Utah Code 53G-5-601 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 Town: includes , depending on population, a metro township as defined in Section 10-3c-102. See Utah Code 68-3-12.5 United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5