Terms Used In Utah Code 11-17-4.6

• Bonds: means bonds, notes, or other evidences of indebtedness. See Utah Code 11-17-2
• Governing body: means :
       (5)(a) for a county, city, or town, the legislative body of the county, city, or town;
       (5)(b) for the Utah Inland Port Authority created in Section 11-58-201, the board, as defined in Section 11-58-102;
       (5)(c) for the military installation development authority created in Section 63H-1-201, the board, as defined in Section 63H-1-102;
       (5)(d) for a state university except as provided in Subsection (5)(e), the board or body having the control and supervision of the state university; and
       (5)(e) for a nonprofit corporation or foundation created by and operating under the auspices of a state university, the board of directors or board of trustees of that corporation or foundation. See Utah Code 11-17-2
• 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}
• Municipality: means any incorporated city or town in the state, including cities or towns operating under home rule charters. See Utah Code 11-17-2
• 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 university: means an institution of higher education as described in Section 53B-2-101 and includes any nonprofit corporation or foundation created by and operating under their authority. See Utah Code 11-17-2
• Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.