53A-28-102 - Definitions.
53A-28-102. Definitions.
(1) "Board" means the board of education of a school district existing now or later underthe laws of the state.
(2) "Bond" means any general obligation bond or refunding bond issued after the effectivedate of this chapter.
(3) "Default avoidance program" means the school bond guaranty program established bythis chapter.
(4) "General obligation bond" means any bond, note, warrant, certificate of indebtedness,or other obligation of a board payable in whole or in part from revenues derived from ad valoremtaxes and that constitutes an indebtedness within the meaning of any applicable constitutional orstatutory debt limitation.
(5) "Paying agent" means the corporate paying agent selected by the board for a bondissue who is:
(a) duly qualified; and
(b) acceptable to the state treasurer.
(6) "Permanent school fund" means the state school fund described in the UtahConstitution, Article X, Section 5(1).
(7) "Refunding bond" means any general obligation bond issued by a board for thepurpose of refunding its outstanding general obligation bonds.
(8) "School district" means any school district existing now or later under the laws of thestate.
Enacted by Chapter 62, 1996 General Session