Terms Used In Utah Code > Title 63B > Chapter 1 - General Provisions

• acquisition or construction: means any acquisition, construction, reconstruction, restoration, enlargement, improvement, renovation, repair, replacement, equipping or furnishing, in whole or in part, of a facility. See Utah Code 63B-1-303
• Authority: means the State Building Ownership Authority created by this part. See Utah Code 63B-1-303
• Bonds: means any bonds, bond anticipation notes, or other obligations authorized under this title for which the full faith, credit, and resources and ad valorem taxing power of the state have been pledged for the payment of the principal of and interest on the bonds. See Utah Code 63B-1-101
• Capital project: means any land, building, facility, highway, improvement, equipment, or other property, or combination of them, that the state of Utah or any of its agencies, divisions, institutions, or other administrative subunits are authorized by law to acquire or construct. See Utah Code 63B-1-101
• Commission: means the State Bonding Commission created in Section 63B-1-201. See Utah Code 63B-1-101
• Contract: A legal written agreement that becomes binding when signed.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Division: means the Division of Facilities Construction and Management. See Utah Code 63B-1-303
• Division: means the Division of Facilities Construction and Management. See Utah Code 63B-1-101
• facilities: means any public building, structure, highway, or property for any governmental purpose of state bodies, and the related and appurtenant easements, rights-of-way, improvements, paving, utilities, landscaping, parking facilities, and the lands, interests in land, and grounds, together with the personal property necessary, convenient, or appurtenant to them. See Utah Code 63B-1-303
• Facility: includes a golf course. See Utah Code 63B-1-303
• 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}
• Highway: includes :Utah Code 68-3-12.5
• Individual: means a natural person. See Utah Code 31A-1-301
• Insurance: includes :

  (i)	a risk distributing arrangement providing for compensation or replacement for damages or loss through the provision of a service or a benefit in kind;

  (ii)	a contract of guaranty or suretyship entered into by the guarantor or surety as a business and not as merely incidental to a business transaction; and

  (iii)

  a plan in which the risk does not rest upon the person who makes an arrangement, but with a class of persons who have agreed to share the risk. See Utah Code 31A-1-301 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. Mortgage: means any mortgage, trust deed, indenture, pledge agreement, assignment, security agreement, financing statement, or other instrument that encumbers property as security for obligations. See Utah Code 63B-1-303 Mortgage loan: A loan made by a lender to a borrower for the financing of real property. 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. Obligations: means any mortgage certificates, notes, debentures, interim certificates, revenue bonds, or other evidences of financial indebtedness. See Utah Code 63B-1-303 Person: means :Utah Code 68-3-12.5 Property: includes both real and personal property. See Utah Code 68-3-12.5 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 bodies: includes a college or university when the obligation to be issued will finance the acquisition or construction of research facilities, housing facilities, or student centers at the college or university. See Utah Code 63B-1-303 Statute: A law passed by a legislature. Trustee: A person or institution holding and administering property in trust. United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5