Terms Used In California Codes > Public Utilities Code > Division 10 > Part 12 > Chapter 7 > Article 1 - Authorization and Issuance of General Obligation Bonds

• 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.
• Amortization: Paying off a loan by regular installments.
• Appraisal: A determination of property value.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Condominium: means an estate in real property consisting of an undivided interest in common in a portion of a parcel of real property together with a separate interest in space in a residential building on the real property, such as an apartment, which, in the sole opinion of the department, meets minimum property standards as defined by the department. See California Military and Veterans Code 987.53
• Contract: A legal written agreement that becomes binding when signed.
• Cooperative housing stock: means a certificate of stock, a certificate of membership, or other evidence of ownership of an interest, in a stock cooperative as defined in subdivision (m) of §. See California Military and Veterans Code 987.53
• 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: includes city and county. See California Public Utilities Code 18
• Deed: The legal instrument used to transfer title in real property from one person to another.
• department: means the Department of Veterans Affairs. See California Military and Veterans Code 690
• Dependent: A person dependent for support upon another.
• Farm: means a tract of land, which, in the opinion of the department, is capable of producing sufficient income to provide payment of the amortized contract installments, including principal, interest, and taxes. See California Military and Veterans Code 987.53
• Home: includes all of the following:

  California Military and Veterans Code 987.53

• Indian veteran: means a veteran, as defined in Section 980, who, in addition, either belongs to an Indian tribe, band, group, reservation, rancheria, or community which is recognized by the United States as eligible for services from the United States Bureau of Indian Affairs or is an Indian beneficiary and who is eligible under this article for purchase by the department of a home or farm sited on trust land. See California Military and Veterans Code 987.53
• Initial payment: means the first payment to be made by a purchaser to the department or the seller for a farm or home. See California Military and Veterans Code 987.53
• 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}
• Mobilehome: means either a parcel of real estate, or an undivided interest in common in a portion of a parcel of real property, on which is sited one or more mobilehome modules, or a site in a mobilehome park, as defined in §. See California Military and Veterans Code 987.53
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• 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.
• Participation contract: means an obligation secured by a deed of trust or mortgage, or other security interest, to include, but not be limited to, mortgage-backed securities, established pursuant to regulations of the department. See California Military and Veterans Code 987.53
• Purchase price: means the price that is paid for the acquisition of any farm or home. See California Military and Veterans Code 987.53
• Purchaser: means a veteran or any person who has entered into a contract of purchase of a farm or home from the department. See California Military and Veterans Code 987.53
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
• Selling price: means the price for which any farm or home is sold. See California Military and Veterans Code 987.53
• Spouse: includes "registered domestic partner" as required by §. See California Military and Veterans Code 19
• State: means the State of California, unless applied to the different parts of the United States. See California Public Utilities Code 17