Terms Used In Utah Code > Title 79 > Chapter 6 > Part 4 - Office of Energy Development

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
• Clean: means minimizing adverse environmental impact and able to meet state standards for environmental quality. See Utah Code 79-6-102
• Contract: A legal written agreement that becomes binding when signed.
• Department: means the Department of Natural Resources created in Section 79-2-201. See Utah Code 79-1-102
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Executive director: means the executive director of the department who is appointed under Section 79-2-202. See Utah Code 79-1-102
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• 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.
• Office: means the Office of Energy Development created in Section 79-6-401. See Utah Code 79-6-102
• Process: means a writ or summons issued in the course of a judicial proceeding. 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