63B-1-101. Definitions.
203 words·~1 min read·
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Effective 5/4/2022
63B-1-101. Definitions.
As used in this title:
(1)"Bond anticipation note" means:
(a)any financing note issued according to the procedures and requirements of this title in anticipation of the receipt of the proceeds of the sale of the bonds authorized under this title; and
(b)any renewal of those notes.
(2)"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.
(3)"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.
(4)"Commission" means the State Bonding Commission created in Section 63B-1-201 .
(5)"Division" means the Division of Facilities Construction and Management.
(6)"Sinking fund" means the fund or account established as provided in this title to hold money to pay the principal and interest on each series of bonds as they become due.
Amended by Chapter 421 , 2022 General Session