California Codes > Water Code > Division 13 > Part 6 > Chapter 4.95 – Alternative Provisions for the Issuance of Bonds of Improvement Districts
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Terms Used In California Codes > Water Code > Division 13 > Part 6 > Chapter 4.95 - Alternative Provisions for the Issuance of Bonds of Improvement Districts
- district: means the Irvine Ranch Water District, the Santa Margarita Water District, or the Moulton-Niguel Water District. See California Water Code 36447
- 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
- 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
- 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.
- Person: means any person, firm, association, organization, partnership, business trust, corporation, limited liability company, or company. See California Water Code 19
- State: means the State of California, unless applied to the different parts of the United States. See California Water Code 18
- Subdivision: means a subdivision of the section in which that term occurs unless some other section is expressly mentioned. See California Water Code 10
- 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.