Terms Used In New York Laws > Public Authorities > Article 10 > Title 4 - Municipal Assistance Corporation For the City of Troy

• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Board of directors: means the board of directors of a municipal assistance corporation. See N.Y. Public Authorities Law 3003
• Bond or note facility: means any insurance policy, letter of credit or other credit enhancement with respect to bonds or notes of the corporation issued pursuant to this title. See N.Y. Public Authorities Law 3052
• Chief executive officer: means the chief executive officer of the city as defined in subdivision five-a of § 2. See N.Y. Public Authorities Law 3052
• City: means the city of Troy. See N.Y. Public Authorities Law 3052
• City comptroller: means the comptroller of the city of Troy. See N.Y. Public Authorities Law 3052
• Comptroller: means the comptroller of the state of New York. See N.Y. Public Authorities Law 3003
• Contract: A legal written agreement that becomes binding when signed.
• Corporation: means the corporate governmental agency created by section three thousand fifty-three of this title. See N.Y. Public Authorities Law 3052
• 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.
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• 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.
• Governor: means the governor of the state of New York. See N.Y. Public Authorities Law 3003
• Judgement: The official decision of a court finally determining the respective rights and claims of the parties to a suit.
• 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.
• 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}
• Legislature: means the legislature of the state of New York. See N.Y. Public Authorities Law 3003
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Majority leader: see Floor Leaders
• municipality: as used in this article shall mean a city, a village, a county on behalf of a county drainage district, a town and a town acting on behalf of a town drainage district. See N.Y. General Municipal Law 119-F
• notes: means bonds and notes, respectively, issued by a municipal assistance corporation pursuant to this article. See N.Y. Public Authorities Law 3003
• 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.
• Obligations: means bonds and notes. See N.Y. Public Authorities Law 3003
• Personal property: All property that is not real property.
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Revenues: means all federal or state aid, rents, fees, charges, payments and other income and receipts paid or payable to a municipal assistance corporation or for the account of a municipal assistance corporation, including any payment permitted or required to be made to such a corporation by this article. See N.Y. Public Authorities Law 3003
• Short-term obligations: means tax anticipation notes, revenue anticipation notes, bond anticipation notes, budget notes and urban renewal notes. See N.Y. Public Authorities Law 3052
• State: means the state of New York. See N.Y. Public Authorities Law 3003