Terms Used In Delaware Code > Title 29 > Chapter 4 > Subchapter I - General Provisions

• Authorization act: means an act of the General Assembly, concurred in by 3/4 of all the members of each House, appropriating funds of the State from the proceeds of bonds authorized to be issued by such act. See Delaware Code Title 29 Sec. 7401
• Bonds: means any bonds authorized to be issued by the State pursuant to an authorization act and to the payment of which the State has pledged its full faith and credit. See Delaware Code Title 29 Sec. 7401
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
• 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.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• 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}
• Issuing officers: means the Governor, Secretary of State, State Treasurer and Secretary of Finance of the State. See Delaware Code Title 29 Sec. 7401
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Notes: means notes issued by the State in anticipation of the issuance of bonds authorized by an authorization act and to the payment of which the State has pledged its full faith and credit. See Delaware Code Title 29 Sec. 7401
• 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.
• Revenue notes: means notes issued by the State in anticipation of the receipt by the State of taxes and revenues payable to the State and the payment of which the State has pledged its full faith and credit. See Delaware Code Title 29 Sec. 7401
• State: means the State of Delaware; and when applied to different parts of the United States, it includes the District of Columbia and the several territories and possessions of the United States. See Delaware Code Title 1 Sec. 302
• United States: includes its territories and possessions and the District of Columbia. See Delaware Code Title 1 Sec. 302
• Year: means a calendar year, and is equivalent to the words "year of our Lord. See Delaware Code Title 1 Sec. 302