Utah § 11-32-2 - Definitions.
Full text of Utah Utah Code § 11-32-2 — Definitions., with citation guidance and answers to common questions.
§ 11-32-2. Definitions.
11-32-2. Definitions.
As used in this chapter:
| (1) | "Assignment agreement" means the agreement, security agreement, indenture, or other documentation by which the county transfers the delinquent tax receivables to the authority in consideration of the amounts paid by the authority under the assignment agreement, as provided in this chapter. |
| (2) | "Bonds" means any bonds, notes, or other evidence of indebtedness of the financing authority issued under this chapter. |
| (3) | "Delinquent tax receivables" means those ad valorem tangible property taxes levied within any county, for any year, which remain unpaid and owing the participant members within the county, as of January 15 of the following year, plus any interest and penalties accruing or assessed to them. |
| (4) | "Financing authority" or "authority" means a nonprofit corporation organized under this chapter by a county on behalf of the participant members within the county as the financing authority for the participant members solely for the purpose of financing the assignment of the delinquent tax receivables of the participant members for which it was created. |
| (5) | "Governing body" means the council, commission, county legislative body, board of education, board of trustees, or any other governing entity of a public body in which the legislative powers of the public body are vested. |
| (6) | "Participant members" means those public bodies, including the county, the governing bodies of which approve the creation of an authority as provided in Section 11-32-3 and on whose behalf the authority acts. |
| (7) | "Public body" means any city, town, county, school district, special service district, special district, community reinvestment agency, or any other entity entitled to receive ad valorem property taxes, existing under the laws of the state. |
Amended by Chapter 16, 2023 General Session
Frequently Asked Questions About Utah § 11-32-2
What does Utah Code § 11-32-2 cover?
Section 11-32-2 ("Definitions.") is part of the Utah Code, the codified statutory law of Utah. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Utah § 11-32-2?
A common citation format is "Utah Code § 11-32-2" (Utah). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Utah law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Utah official source linked on this page or consult a licensed Utah attorney.
How does Utah § 11-32-2 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Utah can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Utah.