Section R907-80-2 - Definitions(1) "Appraisal" means the same as it is defined in Subsection 61-2G-102(1)(a).(2) "Bidder" means a person who offers to pay a certain amount of money in exchange for title to an interest in real or personal property the department offers for sale.(3) "Confirmable Delivery Method" means any method of delivering documents that provides a way to confirm they were delivered to the intended party or location.(4) The "Department" means the Utah Department of Transportation.(5) The "Director" means the Executive Director of the Utah Department of Transportation or the Executive Director's designee.(6) "First right of refusal" means the same as "right of first refusal" and "right of first consideration."(7) "Minimum acceptable selling price" means a price established by the department based upon the market value of the property as established by an appraisal or other means; plus, costs associated with preparing the property for and executing the sale, such as the costs of advertising, appraising, performing environmental assessments, and processing the transaction. (8) As used in this rule, "surplus land," "surplus property," or "land" mean an estate in real property to which the department is the owner and the director has declared to be surplus.(9) The "Transportation Commission" or "Commission" means the Utah Transportation Commission.(10) A "Utah Public Entity" means a political subdivision of the state, an agency of the state, a county, a municipality, or a special services district of the state, a county, or municipality.Utah Admin. Code R907-80-2
Adopted by Utah State Bulletin Number 2017-12, effective 5/22/2017Amended by Utah State Bulletin Number 2018-11, effective 5/9/2018Amended by Utah State Bulletin Number 2020-24, effective 12/1/2020