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, or
state university for the purpose of using a portion, or all or substantially all of the proceeds to pay
for or to reimburse the user or its designee for the costs of the acquisition of facilities of a
project, or to create funds for the project itself where appropriate, whether these costs are
incurred 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 or
county shall be secured by a pledge of one or more notes, debentures, bonds, other secured or
unsecured debt obligations of the user, or such sinking fund or other arrangement as in the
judgment of the governing body is appropriate for the purpose of assuring repayment of the bond
obligations 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, the
authority board, as defined in Section 63H-1-102;
(c) for the University of Utah and Utah State University, the board or body having the
control 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 auspices
of 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, or
state university for the establishment and location of a series of sites for plants and other
buildings for industrial, distribution, and wholesale use. There may be included as part of the
development of the land for any industrial park under this chapter the acquisition and provision
of water, sewerage, drainage, street, road, sidewalk, curb, gutter, street lighting, electrical
distribution, railroad, or docking facilities, or any combination of them, but only to the extent that
these 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 or
towns operating under home rule charters.
(7) "Pollution" means any form of environmental pollution including, but not limited to,
water pollution, air pollution, pollution caused by solid waste disposal, thermal pollution,
radiation contamination, or noise 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 not
in existence or under construction:
(i) that is suitable for industrial, manufacturing, warehousing, research, business, and
professional office building facilities, commercial, shopping services, food, lodging, low income
rental 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 care
services, 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 the
accomplishment of its authorized academic, scientific, engineering, technical, and economic
development functions, but "project" does not include any property, real, personal, or mixed, for
the purpose of the construction, reconstruction, improvement, or maintenance of a public utility
as 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, political
subdivision, state agency, or any other legal entity, or its legal representative, agent, or assigns,
for the reduction, abatement, or prevention of pollution, including, but not limited to, the removal
or treatment of any substance in process material, if that material would cause pollution if used
without the removal or treatment;
(c) facilities, machinery, or equipment, the manufacturing and financing of which will
maintain or enlarge domestic or foreign markets for Utah industrial products; or
(d) any economic development or new venture investment fund to be raised other than
from:
(i) municipal or county general fund moneys;
(ii) moneys raised under the taxing power of any county or municipality; or
(iii) moneys raised against the general credit of any county or municipality.
(9) "State university" means the University of Utah and Utah State University and
includes 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 92, 2009 General Session
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Last revised: Thursday, May 28, 2009