Terms Used In Utah Code > Title 63B > Chapter 1b > Part 4 - Issuance of Bonds

• Agency bonds: means any bond, note, contract, or other evidence of indebtedness representing loans or grants made by an authorizing agency. See Utah Code 63B-1b-102
• 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
• Authorized official: means the state treasurer or other person authorized by a bond document to perform the required action. See Utah Code 63B-1b-102
• Authorizing agency: means the board, person, or unit with legal responsibility for administering and managing revolving loan funds. See Utah Code 63B-1b-102
• Bond document: means :
       (4)(a) a resolution of the commission; or
       (4)(b) an indenture or other similar document authorized by the commission that authorizes and secures outstanding revenue bonds from time to time. See Utah Code 63B-1b-102
• Commission: means the State Bonding Commission, created in Section 63B-1-201. See Utah Code 63B-1b-102
• Contract: A legal written agreement that becomes binding when signed.
• Division: means the Division of Facilities Construction and Management. See Utah Code 63B-1-101
• Equal: means , with respect to biological sex, of the same value. See Utah Code 68-3-12.5
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Lien: A claim against real or personal property in satisfaction of a debt.
• 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.
• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• Revenue bonds: means any special fund revenue bonds issued under this chapter. See Utah Code 63B-1b-102
• Signature: includes a name, mark, or sign written with the intent to authenticate an instrument or writing. 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
• Trustee: A person or institution holding and administering property in trust.
• 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.