Terms Used In Utah Code > Title 63C > Chapter 25 - State Finance Review Commission

• 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 same as that term is defined in Section 63B-1-303. See Utah Code 63C-25-101
• Bond: means the same as that term is defined in Section 63B-1-101. See Utah Code 63C-25-101
• Bonding government entity: includes :

  (i)	a bonding political subdivision; and

  (ii)

  a public infrastructure district that is authorized to issue bonds either directly, or through the authority of a bonding political subdivision or other governmental entity. See Utah Code 63C-25-101 Bonding political subdivision: means : (a)  the Utah Inland Port Authority, created in Section 11-58-201; (b)  the Military Installation Development Authority, created in Section 63H-1-201; (c)  the Point of the Mountain State Land Authority, created in Section 11-59-201; (d)  the Utah Lake Authority, created in Section 11-65-201 ; or (e)  the State Fair Park Authority, created in Section 11-68-201. See Utah Code 63C-25-101 Commission: means the State Finance Review Commission created in Section 63C-25-201. See Utah Code 63C-25-101 Concessionaire: means a person who: (a)  operates, finances, maintains, or constructs a government facility under a contract with a bonding political subdivision; and (b)  is not a bonding government entity. See Utah Code 63C-25-101 Concessionaire contract: means a contract: (a)  between a bonding government entity and a concessionaire for the operation, finance, maintenance, or construction of a government facility; (b)  that authorizes the concessionaire to operate the government facility for a term of five years or longer, including any extension of the contract; and (c)  in which all or some of the annual source of payment to the concessionaire comes from state funds provided to the bonding government entity. See Utah Code 63C-25-101 Contract: A legal written agreement that becomes binding when signed. Creating entity: means the same as that term is defined in Section 17D-4-102. See Utah Code 63C-25-101 Enrollee: includes an insured. See Utah Code 31A-1-301 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. Government facility: means infrastructure, improvements, or a building that: (a)  costs more than $5,000,000 to construct; and (b)  has a useful life greater than five years. See Utah Code 63C-25-101 Health benefit plan: means a policy, contract, certificate, or agreement offered or issued by an insurer to provide, deliver, arrange for, pay for, or reimburse any of the costs of health care, including major medical expense coverage. 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 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 Land: includes :Utah Code 68-3-12.5 Large public transit district: means the same as that term is defined in Section 17B-2a-802. See Utah Code 63C-25-101 Loan entity: means the board, person, unit, or agency with legal responsibility for making a loan from a revolving loan fund. See Utah Code 63C-25-101 Obligation: means the same as that term is defined in Section 63B-1-303. See Utah Code 63C-25-101 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. Order: means an order of the commissioner. See Utah Code 31A-1-301 Parameters resolution: means a resolution of a bonding government entity that sets forth for proposed bonds: (a)  the maximum: (i)  amount of bonds; (ii)  term; and (iii)  interest rate; and (b)  the expected security for the bonds. See Utah Code 63C-25-101 Person: means :Utah Code 68-3-12.5 Public infrastructure district: means a public infrastructure district created under Title 17D, Chapter 4, Public Infrastructure District Act. See Utah Code 63C-25-101 Quorum: The number of legislators that must be present to do business. Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant. Revolving loan fund: means : (a)  the Water Resources Conservation and Development Fund, created in Section 73-10-24; (b)  the Water Resources Construction Fund, created in Section 73-10-8; (c)  the Water Resources Cities Water Loan Fund, created in Section 73-10-22; (d)  the Clean Fuel Conversion Funds, created in 4; (e)  the Water Development Security Fund and its subaccounts, created in Section 73-10c-5; (f)  the Agriculture Resource Development Fund, created in Section 4-18-106; (g)  the Utah Rural Rehabilitation Fund, created in Section 4-19-105; (h)  the Permanent Community Impact Fund, created in Section 35A-8-303; (i)  the Petroleum Storage Tank Fund, created in Section 19-6-409; (j)  the School Building Revolving Account, created in Section 53F-9-206; (k)  the State Infrastructure Bank Fund, created in Section 72-2-202; (l)  the Uintah Basin Revitalization Fund, created in Section 35A-8-1602; (m)  the Navajo Revitalization Fund, created in Section 35A-8-1704; (n)  the Energy Efficiency Fund, created in Section 11-45-201; (o)  the Brownfields Fund, created in Section 19-8-120; (p)  the following enterprise revolving loan funds created in Section 63A-3-402: (i)  the inland port infrastructure revolving loan fund; (ii)  the point of the mountain infrastructure revolving loan fund; or (iii)  the military development infrastructure revolving loan fund; and (q)  any other revolving loan fund created in statute where the borrower from the revolving loan fund is a public non-profit entity or political subdivision, including a fund listed in Section 63A-3-205, from which a loan entity is authorized to make a loan. See Utah Code 63C-25-101 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 funds: means an appropriation by the Legislature identified as coming from the General Fund or Education Fund. See Utah Code 63C-25-101 Statute: A law passed by a legislature.