Terms Used In Louisiana Revised Statutes > Title 45 > Chapter 9 > Part VIII > Subpart B - Special Public Trusts

• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Affiliate: means , when used with reference to a specified person, an entity that directly or indirectly through one or more intermediaries controls or is controlled by or is under common control with the entity specified. See Louisiana Revised Statutes 45:1332
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Ancillary agreement: means any bond, insurance policy, letter of credit, reserve account, surety bond, swap arrangement, hedging arrangement, liquidity or credit support arrangement, or other financial arrangement entered into in connection with the issuance or payment of system restoration bonds. See Louisiana Revised Statutes 45:1312
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Basic health benefits plan: means coverage for basic hospital care, coverage for physician care, and coverage for health care which is determined by the Department of Economic Development to have a value of at least one dollar and twenty-five cents per hour and which is the same coverage as is provided to employees employed in a bona fide executive, administrative, or professional capacity by the employers who are exempt from the minimum wage and maximum hour requirements of the federal Fair Labor Standards Act, 29 U. See Louisiana Revised Statutes 51:3121
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Business: means any individual, firm, joint venture, association, corporation, estate, partnership, business trust, receiver, syndicate, or any other legal business entity. See Louisiana Revised Statutes 51:3111
• Business: means any individual, firm, joint venture, association, corporation, estate, partnership, business trust, receiver, syndicate, or any other legal business entity. See Louisiana Revised Statutes 51:3121
• Clerk of court: An officer appointed by the court to work with the chief judge in overseeing the court's administration, especially to assist in managing the flow of cases through the court and to maintain court records.
• Commission: means the Public Service Commission or, solely with respect to an electric or gas utility furnishing electric or natural gas service within the city of New Orleans, the council of the city of New Orleans, as applicable. See Louisiana Revised Statutes 45:1312
• Contract: A legal written agreement that becomes binding when signed.
• Contributed proceeds: means the monies contributed by the corporation to a trust. See Louisiana Revised Statutes 45:1332
• 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.
• Corporation: means the Louisiana Utilities Restoration Corporation. See Louisiana Revised Statutes 45:1312
• Department: means the Department of Economic Development unless otherwise designated. See Louisiana Revised Statutes 51:3111
• Department: means the Department of Economic Development. See Louisiana Revised Statutes 51:3121
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Executive session: A portion of the Senate's daily session in which it considers executive business.
• Fiduciary: A trustee, executor, or administrator.
• Financing costs: means any of the following:

              (a) Interest and acquisition, defeasance, or redemption premiums that are payable on system restoration bonds. See Louisiana Revised Statutes 45:1312

• Financing order: means an order of the commission, if granted by the commission in its sole discretion, which allows for all of the following:

              (a) The assessment, imposition, and periodic adjustment of system restoration charges by the corporation and the collection thereof by a utility as an agent on behalf of the corporation. See Louisiana Revised Statutes 45:1312

• Financing party: means any holder of system restoration bonds, any party to or beneficiary of an ancillary agreement, and any trustee, collateral agent, or other person acting for the benefit of any of the foregoing. See Louisiana Revised Statutes 45:1312
• 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.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Headquarters: means a principal or regional corporate office located or to be located in Louisiana, in which are based the principal or regional executive officers normally constituting a principal or regional headquarters providing corporate governance. See Louisiana Revised Statutes 51:3111
• Headquarters jobs: means permanent full-time new executive, administrative, or professional jobs based at a headquarters and filled by residents of the state employed by a qualified business, and each job paying at least sixty thousand dollars per year or two hundred percent of the average annual wages paid by employers subject to the Louisiana Employment Security Law in the parish in which the headquarters is located, whichever is lower. See Louisiana Revised Statutes 51:3111
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Issuance costs: means any of the following:

              (a) Any initial payment made on issuance of, and any amount required to fund any system restoration sinking fund, reserve or overcollateralization fund, or other fund or account required by the documents pertaining to, system restoration bonds authorized by a financing order. See Louisiana Revised Statutes 45:1312

• Issuer: means any Louisiana public corporation, public trust, or other entity that issues system restoration bonds approved by a financing order. See Louisiana Revised Statutes 45:1312
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• New jobs: means permanent full-time direct new jobs based at the facilities designated in the contract and filled by residents of the state. See Louisiana Revised Statutes 51:3121
• New payroll: means payment by the business to its employees for new jobs, exclusive of benefits, and defined as wages under Louisiana Employment Security Law (La. See Louisiana Revised Statutes 51:3121
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
• Pledgee: means an issuer as pledgee of the corporation or an applicable financing party as pledgee of an issuer. See Louisiana Revised Statutes 45:1332
• Preferred interests: means preferred equity interests in a utility affiliate that pay preferred dividends to the trust that purchased those preferred equity interests. See Louisiana Revised Statutes 45:1332
• Program: means the Corporate Headquarters Relocation Program established pursuant to this Chapter. See Louisiana Revised Statutes 51:3111
• Program: means the Competitive Projects Payroll Incentive Program. See Louisiana Revised Statutes 51:3121
• Purchase proceeds: means the proceeds received by a utility affiliate from the sale of its preferred interests to a trust. See Louisiana Revised Statutes 45:1332
• Qualified business: means a business that (a) the secretary has determined meets the eligibility requirements of La. See Louisiana Revised Statutes 51:3111
• Qualified business: means a business certified by the secretary as meeting the eligibility requirements of Subsection B of this Section, approved by the Joint Legislative Committee on the Budget to participate in the program, and executing a contract providing the terms and conditions for its participation. See Louisiana Revised Statutes 51:3121
• qualified capital expenditures: means amounts classified as capital expenditures for federal income tax purposes related to the project plus exclusions from capitalization provided for in Internal Revenue Code Section 263 (a)(1)(A) through (L), minus the capitalized cost of land, capitalized leases of land, capitalized interest, capitalized costs of manufacturing machinery and equipment to the extent capitalized manufacturing machinery and equipment costs are excluded from sales and use tax pursuant to La. See Louisiana Revised Statutes 51:3121
• Quorum: The number of legislators that must be present to do business.
• Related bonds: means , with respect to a trust, the system restoration bonds that funded the net proceeds transferred by an issuer to the corporation and then contributed by the corporation to that trust. See Louisiana Revised Statutes 45:1332
• Related utility: means , with respect to a trust, the utility that is a beneficiary of such trust and that obtains a financing order pursuant to this Subpart. See Louisiana Revised Statutes 45:1332
• Relocation costs: means actual, direct, and substantiated costs incurred by the qualified business to relocate a headquarters to the state, including capital expenditures and leasing costs for a facility and equipment, and personnel relocation costs; provided that such personnel relocation costs shall not include any real estate commission in excess of six percent, but such limit shall not prevent a real estate commission less than six percent. See Louisiana Revised Statutes 51:3111
• Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
• Secretary: means the secretary of the Department of Economic Development. See Louisiana Revised Statutes 51:3111
• Secretary: means the secretary of the Department of Economic Development. See Louisiana Revised Statutes 51:3121
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• Significant positive economic benefit: means net positive tax revenue. See Louisiana Revised Statutes 51:3121
• State: means the state of Louisiana. See Louisiana Revised Statutes 51:3111
• State: means the state of Louisiana. See Louisiana Revised Statutes 45:1312
• Storm: means a named tropical storm or hurricane, ice or snow storm, flood, or other significant weather or natural disaster that occurred during calendar year 2005 or that occurs thereafter. See Louisiana Revised Statutes 45:1312
• System restoration activity: means any activity or activities by or on behalf of a utility in connection with the restoration of service associated with utility outages affecting customers of a utility as the result of a storm or storms, including but not limited to mobilization, staging, and construction, reconstruction, replacement, or repair of generation, transmission, distribution, or general plant facilities. See Louisiana Revised Statutes 45:1312
• System restoration bonds: means bonds, notes, certificates of participation, or other evidences of indebtedness that are issued pursuant to this Part by an issuer at the request of the corporation and a utility, and authorized by a financing order, the net proceeds of which are transferred to the corporation and used as provided in this Part, and which are secured by and payable from system restoration property. See Louisiana Revised Statutes 45:1312
• System restoration costs: means , if requested by the utility, and as may be approved by the commission, those prudent incremental costs incurred or to be incurred by a utility in undertaking a system restoration activity, including associated carrying costs. See Louisiana Revised Statutes 45:1312
• System restoration property: means all of the following:

              (a) All rights and interests of the corporation arising out of this Part, including the right to receive system restoration charges billed and collected by the utility on the behalf of the corporation as authorized in the financing order, the right to enforce the obligations of the utility to collect and service the system restoration charges, and the right to obtain periodic adjustments to such charges as provided in the financing order and this Part. See Louisiana Revised Statutes 45:1312

• Trust: means an express special public trust created only pursuant to and in compliance with the provisions of this Subpart. See Louisiana Revised Statutes 45:1332
• Trust agreement: means , with respect to a trust, the written instrument that created the trust together with all proper amendments. See Louisiana Revised Statutes 45:1332
• Trustee: A person or institution holding and administering property in trust.
• under common control with: means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of an entity whether through the ownership of voting securities, by contract, or otherwise. See Louisiana Revised Statutes 45:1332
• Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}
• Utility: means an electric utility or a gas utility. See Louisiana Revised Statutes 45:1312
• Utility affiliate: means an affiliate of the utility that obtains a financing order pursuant to this Subpart. See Louisiana Revised Statutes 45:1332