Terms Used In Arizona Laws > Title 35 > Chapter 3 - Public Indebtedness

• Amortization: Paying off a loan by regular installments.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Bond: means a bond authorized and issued under this article. See Arizona Laws 35-468
• Bond: means any bond, note, warrant, lease, lease purchase agreement or other interest bearing obligation issued pursuant to any provision of law by this state or any political subdivision. See Arizona Laws 35-511
• Bonds: means tax anticipation bonds issued pursuant to this article. See Arizona Laws 35-401
• City: means any city incorporated under the laws of this state. See Arizona Laws 35-465
• City: means a city or town incorporated under the laws of this state. See Arizona Laws 35-467
• Contract: A legal written agreement that becomes binding when signed.
• 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.
• County: means any county now or hereafter in existence in the state. See Arizona Laws 35-465
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) ^{Source: OCC}
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Ex officio: Literally, by virtue of one's office.
• Fiscal year: means the period commencing on July 1 of any year and terminating on June 30 of the next succeeding year. See Arizona Laws 35-465
• Fiscal year: means the period commencing on July 1 of any year and terminating on June 30 of the next succeeding year. See Arizona Laws 35-467
• 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.
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Governing body: means the body constituted by law to be the legislative department of the taxing district. See Arizona Laws 35-465
• Governing body: means the body constituted by law to be the governing board of the issuer. See Arizona Laws 35-466
• Governing body: means the body constituted by law to be the legislative department of the taxing district. See Arizona Laws 35-467
• Grant agreement: means any written agreement entered into with the issuer and the United States of America or any of its departments or agencies by which the issuer will receive a grant or subvention for which the funds to be advanced have been appropriated to the department or agency making the grant and by which the issuer incurs no monetary liability to repay the grant or subvention except for the obligation to construct a project or projects. See Arizona Laws 35-466
• Grant anticipation notes: means notes authorized by this article and also notes to refund grant anticipation notes. See Arizona Laws 35-466
• Grant revenues: means any revenues the issuer will receive under a grant agreement, proceeds of grant anticipation notes and income and gain from investment of such revenues and proceeds. See Arizona Laws 35-466
• including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
• 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}
• Issuer: means any city, charter city, town, county, sanitary district, electrical district, irrigation district, hospital district, improvement district or any other similar municipal corporation. See Arizona Laws 35-466
• 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}
• Lien: A claim against real or personal property in satisfaction of a debt.
• Loan commissioners: means the loan commissioners of this state. See Arizona Laws 35-401
• Month: means a calendar month unless otherwise expressed. See Arizona Laws 1-215
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Municipal corporation: means any sanitary district, electrical district, irrigation district, hospital district or any other similar municipal corporation which is required by law to adopt a budget. See Arizona Laws 35-465
• Municipal corporation: means a sanitary district, electrical district, irrigation district or hospital district or any other similar municipal corporation which is required by law to adopt a budget. See Arizona Laws 35-467
• 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.
• Oversight: Committee review of the activities of a Federal agency or program.
• Petty offense: A federal misdemeanor punishable by six months or less in prison. ^{Source: U.S. Courts}
• Political subdivision: means any county, school district, community college district or special taxing district organized under title 48 in which remote municipal property, as defined in section 42-15251, is located. See Arizona Laws 35-468
• Political subdivision: means city, town, county, school district, community college district, multi-county water conservation district, agriculture improvement district, industrial development authority, pollution control corporation, special taxing district in title 48 and any other agency, instrumentality, municipal corporation or other entity created by a law of this state which has the power to issue bonds. See Arizona Laws 35-511
• Population: means the population according to the most recent United States decennial census. See Arizona Laws 1-215
• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• Process: means a citation, writ or summons issued in the course of judicial proceedings. See Arizona Laws 1-215
• Property: includes both real and personal property. See Arizona Laws 1-215
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Rebate: means the payment of monies to the federal government pursuant to any law enacted by the Congress of the United States in consideration of retaining any exemption from federal income taxes for the interest income on an issuer's bonds. See Arizona Laws 35-511
• Revenue: means any monies derived other than from grants, ad valorem taxes, sales taxes or transaction privilege taxes or from this state. See Arizona Laws 35-467
• School district: means any school district now or hereafter in existence in the state. See Arizona Laws 35-465
• State: means the state of Arizona. See Arizona Laws 35-465
• State: means this state or any of its departments, agencies or authorities. See Arizona Laws 35-466
• Statute: A law passed by a legislature.
• Taxes: means state excise taxes levied pursuant to lawful appropriations, which are due or will become due prior to the end of the fiscal year but which remain uncollected, in anticipation of which bonds may be issued. See Arizona Laws 35-401
• Taxes: means ad valorem taxes levied or to be levied by the taxing district in the fiscal year, sales taxes and transaction privilege taxes levied by the taxing district and all amounts returned to the taxing district by the state. See Arizona Laws 35-465
• Taxing district: means any city, county, school district or municipal corporation having the power to levy ad valorem taxes. See Arizona Laws 35-465
• Taxing district: means a city, county, school district or municipal corporation having the power to levy ad valorem taxes. See Arizona Laws 35-467
• Treasurer: means state treasurer. See Arizona Laws 35-401
• Treasurer: means the treasurer of the taxing district or the ex officio tax collector of the taxing district. See Arizona Laws 35-465
• Treasurer: means the treasurer, finance director or other person acting in the capacity of the treasurer of this state or any political subdivision. See Arizona Laws 35-511
• Trustee: A person or institution holding and administering property in trust.
• United States: includes the District of Columbia and the territories. See Arizona Laws 1-215
• Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.
• Water transportation revenues: means monies received by a political subdivision pursuant to section 9-433. See Arizona Laws 35-468
• Writing: includes printing. See Arizona Laws 1-215