Terms Used In California Codes > Education Code > Title 2 > Division 3 > Part 24 > Chapter 3 > Article 4 - Loans and Advances

• Contract: A legal written agreement that becomes binding when signed.
• 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.
• 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}
• property: includes property real and personal. See California Civil Code 14
• Tenant: includes any lessee or sublessee of any commercial real property and its premises for hire. See California Civil Code 1993