11-17-2 - Definitions.
11-17-2. Definitions.
As used in this chapter:
(1) "Bonds" means bonds, notes, or other evidences of indebtedness.
(2) "Finance" or "financing" includes the issuing of bonds by a municipality, county, orstate university for the purpose of using a portion, or all or substantially all of the proceeds to payfor or to reimburse the user or its designee for the costs of the acquisition of facilities of aproject, or to create funds for the project itself where appropriate, whether these costs areincurred by the municipality, the county, the state university, the user, or a designee of the user. If title to or in these facilities at all times remains in the user, the bonds of the municipality orcounty shall be secured by a pledge of one or more notes, debentures, bonds, other secured orunsecured debt obligations of the user, or such sinking fund or other arrangement as in thejudgment of the governing body is appropriate for the purpose of assuring repayment of the bondobligations to investors in accordance with their terms.
(3) "Governing body" means:
(a) for a county, city, or town, the legislative body of the county, city, or town;
(b) for the military installation development authority created in Section 63H-1-201, theauthority board, as defined in Section 63H-1-102;
(c) for the University of Utah and Utah State University, the board or body having thecontrol and supervision of the University of Utah and Utah State University; and
(d) for a nonprofit corporation or foundation created by and operating under the auspicesof a state university, the board of directors or board of trustees of that corporation or foundation.
(4) "Industrial park" means land, including all necessary rights, appurtenances,easements, and franchises relating to it, acquired and developed by any municipality, county, orstate university for the establishment and location of a series of sites for plants and otherbuildings for industrial, distribution, and wholesale use. There may be included as part of thedevelopment of the land for any industrial park under this chapter the acquisition and provisionof water, sewerage, drainage, street, road, sidewalk, curb, gutter, street lighting, electricaldistribution, railroad, or docking facilities, or any combination of them, but only to the extent thatthese facilities are incidental to the use of the land as an industrial park.
(5) "Mortgage" means a mortgage, trust deed, or other security device.
(6) "Municipality" means any incorporated city or town in the state, including cities ortowns operating under home rule charters.
(7) "Pollution" means any form of environmental pollution including water pollution, airpollution, pollution caused by solid waste disposal, thermal pollution, radiation contamination, ornoise pollution.
(8) "Project" means:
(a) any industrial park, land, interest in land, building, structure, facility, system, fixture,improvement, appurtenance, machinery, equipment, or any combination of them, whether or notin existence or under construction:
(i) that is suitable for industrial, manufacturing, warehousing, research, business, andprofessional office building facilities, commercial, shopping services, food, lodging, low incomerental housing, recreational, or any other business purposes;
(ii) that is suitable to provide services to the general public;
(iii) that is suitable for use by any corporation, person, or entity engaged in health careservices, including hospitals, nursing homes, extended care facilities, facilities for the care of
persons with a physical or mental disability, and administrative and support facilities; or
(iv) that is suitable for use by a state university for the purpose of aiding in theaccomplishment of its authorized academic, scientific, engineering, technical, and economicdevelopment functions, but "project" does not include any property, real, personal, or mixed, forthe purpose of the construction, reconstruction, improvement, or maintenance of a public utilityas defined in Section 54-2-1, and except as provided in Subsection (8)(b);
(b) any land, interest in land, building, structure, facility, system, fixture, improvement,appurtenance, machinery, equipment, or any combination of them, used by any individual,partnership, firm, company, corporation, public utility, association, trust, estate, politicalsubdivision, state agency, or any other legal entity, or its legal representative, agent, or assigns,for the reduction, abatement, or prevention of pollution, including the removal or treatment ofany substance in process material, if that material would cause pollution if used without theremoval or treatment;
(c) facilities, machinery, or equipment, the manufacturing and financing of which willmaintain or enlarge domestic or foreign markets for Utah industrial products; or
(d) any economic development or new venture investment fund to be raised other thanfrom:
(i) municipal or county general fund money;
(ii) money raised under the taxing power of any county or municipality; or
(iii) money raised against the general credit of any county or municipality.
(9) "State university" means the University of Utah and Utah State University andincludes any nonprofit corporation or foundation created by and operating under their authority.
(10) "User" means the person, whether natural or corporate, who will occupy, operate,maintain, and employ the facilities of, or manage and administer a project after the financing,acquisition, or construction of it, whether as owner, manager, purchaser, lessee, or otherwise.
Amended by Chapter 378, 2010 General Session