Terms Used In Vermont Statutes > Title 10 > Chapter 29 > Subchapter 2 - Job Development Zone

• Account: means any deposit or credit account with a bank, including a demand, time, savings, passbook, share draft, or like account, other than an account evidenced by a certificate of deposit;

• Afternoon: means the period of a day between noon and midnight;

• Agency: means the Vermont Agency of Commerce and Community Development. See
• Amortization: Paying off a loan by regular installments.
• Area unemployment rate: means the average monthly unemployment rate over the most recent two-year period for which data is available, of the labor market area of which a municipality is a part, as reported by the Vermont Department of Labor. See
• Banking day: means the part of a day on which a bank is open to the public for carrying on substantially all of its banking functions;

• 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.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Draft: means a draft as defined in § 3—104 or an item, other than an instrument, that is an order;

• Drawee: means a person ordered in a draft to make payment;

• Employment loss: means the absolute decline in the annual average number of insured private sector employees in the municipality during the most recent 12-month period for which data is reported by the Vermont Department of Labor compared to the same 12-month period five years earlier. See
• 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.
• following: when used by way of reference to a section of the law shall mean the next preceding or following section. See
• Item: means an instrument or a promise or order to pay money handled by a bank for collection or payment. See
• Municipality: means a town or city. See
• 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.
• Per capita income: means the total adjusted gross incomes of residents of a municipality divided by total exemptions claimed by residents of that municipality, as reported to the Vermont Department of Taxes in the most recent year for which data is available. See
• Person: shall include any natural person, corporation, municipality, the State of Vermont or any department, agency, or subdivision of the State, and any partnership, unincorporated association, or other legal entity. See
• Population: means the most recent population of a municipality as determined by the Vermont Department of Health. See
• Secretary: means the Secretary of the Agency. See
• 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.
• Town: shall include city and wards or precincts therein; "selectboard members" and "board of civil authority" shall extend to and include the mayor and aldermen of cities; "trustees" shall extend to and include bailiffs of incorporated villages; and the laws applicable to the inhabitants and officers of towns shall be applicable to the inhabitants and similar officers of all municipal corporations. See
• Village: shall mean an incorporated village. See