Terms Used In Utah Code > Title 63A > Chapter 5b > Part 8 - Acquisitions of Real Property Interests

• Agency: means a board, commission, institution, department, division, officer, council, office, committee, bureau, or other administrative unit of the state, including the agency head, agency employees, or other persons acting on behalf of or under the authority of the agency head, the Legislature, the courts, or the governor, but does not mean a political subdivision of the state, or any administrative unit of a political subdivision of the state. See Utah Code 63A-1-103
• Agency optional term: means an option that is exclusively exercisable by a leasing agency to extend the lease term. See Utah Code 63A-5b-801
• Appraisal: A determination of property value.
• 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
• 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.
• Department: means the Department of Government Operations. See Utah Code 63A-1-103
• Director: means the division director, appointed under Section 63A-5b-302. See Utah Code 63A-5b-102
• Division: means the Division of Facilities Construction and Management created in Section 63A-5b-301. See Utah Code 63A-5b-102
• 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.
• High-cost lease: means a real property lease that:
       (2)(a) has an initial term including any agency optional term of 10 years or more; or
       (2)(b) will require lease payments of more than $5,000,000 over the term of the lease, including any agency optional term. See Utah Code 63A-5b-801
• Institution of higher education: means an institution listed in Subsection 53B-2-101(1). See Utah Code 63A-5b-102
• 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}
• Leasing agency: means a department, commission, board, council, agency, institution, officer, corporation, fund, division, office, committee, authority, laboratory, library, unit, bureau, panel, or other administrative unit of the state. See Utah Code 63A-5b-801
• Oversight: Committee review of the activities of a Federal agency or program.
• Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5
• Property: includes both real and personal property. See Utah Code 68-3-12.5
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• real property: includes :
       (31)(a) land;
       (31)(b) a tenement;
       (31)(c) a hereditament;
       (31)(d) a water right;
       (31)(e) a possessory right; and
       (31)(f) a claim. See Utah Code 68-3-12.5
• Significant lease terms: includes the duration of the lease, the frequency of the periodic payments, a renewal clause, a purchase option, a cancellation clause, a repair and maintenance clause, and a restriction on use of the property. See Utah Code 63A-5b-801
• 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
• Utah Board of Higher Education: means the Utah Board of Higher Education established in Section 53B-1-402. See Utah Code 63A-5b-102