Terms Used In Arizona Laws > Title 45 > Chapter 13 > Article 5 - Financial Provisions

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Authority: means a water authority established under this chapter. See Arizona Laws 45-2201
• Board: means the board of directors of the authority. See Arizona Laws 45-2201
• Colorado river water: means water from the main stream of the Colorado river. See Arizona Laws 45-2201
• Conservation: means the preservation and planned management of water resources to ensure the future availability of water resources. See Arizona Laws 45-2201
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Director: means the director of water resources, who is also the director of the department. See Arizona Laws 45-101
• Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• United States: means the secretary of the interior, acting for the United States department of interior, or his duly authorized representative. See Arizona Laws 45-2201