Terms Used In Florida Statutes > Chapter 132 - General Refunding Law

• Agent: means the project architect, project engineer, or other agency or person acting on behalf of the local governmental entity. See Florida Statutes 218.72
• 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.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• 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.
• Auditor: means an independent certified public accountant licensed pursuant to chapter 473 and retained by a local governmental entity to perform a financial audit. See Florida Statutes 218.31
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Board: means the State Board of Administration. See Florida Statutes 218.403
• Chief Financial Officer: means the mayor, manager, administrator, clerk, comptroller, treasurer, director of finance, or other local government official, regardless of the title of his or her office, charged with administering the fiscal affairs of a unit of local government. See Florida Statutes 218.403
• Construction services: means all labor, services, and materials provided in connection with the construction, alteration, repair, demolition, reconstruction, or other improvements to real property. See Florida Statutes 218.72
• Contract: A legal written agreement that becomes binding when signed.
• 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: means a political subdivision of the state established pursuant to…. See Florida Statutes 218.72
• County agency: means a board of county commissioners or other legislative and governing body of a county, however styled, including that of a consolidated or metropolitan government, a clerk of the circuit court, a separate or ex officio clerk of the county court, a sheriff, a property appraiser, a tax collector, a supervisor of elections, or any other officer in whom any portion of the fiscal duties of the above are under law separately placed. See Florida Statutes 218.31
• Current expenses: means expenses to meet known cash needs and anticipated cash-flow requirements for the short term. See Florida Statutes 218.403
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Decedent: A deceased person.
• Department: means the Department of Financial Services. See Florida Statutes 218.31
• Dependent: A person dependent for support upon another.
• Dependent special district: means a dependent special district as defined in…. See Florida Statutes 218.31
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. ^{Source: OCC}
• Fiduciary: A trustee, executor, or administrator.
• Financial audit: means an examination of financial statements in order to express an opinion on the fairness with which they are presented in conformity with generally accepted accounting principles and an examination to determine whether operations are properly conducted in accordance with legal and regulatory requirements. See Florida Statutes 218.31
• 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.
• Fraud: Intentional deception resulting in injury to another.
• GASB: means the Governmental Accounting Standards Board. See Florida Statutes 218.403
• Generally accepted accounting principles: means those accounting principles adopted by rule of the Board of Accountancy under chapter 473. See Florida Statutes 218.31
• GFOA: means the Government Finance Officers Association. See Florida Statutes 218.403
• Governing body: means the body or board in which the legislative power of a unit of local government is vested. See Florida Statutes 218.403
• Grantor: The person who establishes a trust and places property into it.
• Independent special district: means an independent special district as defined in…. See Florida Statutes 218.31
• Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
• 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}
• 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}
• Legislative Auditing Committee: means a committee or committees designated by joint rule of the Legislature, by the President of the Senate or the Speaker of the House of Representatives, or by agreement between the President of the Senate and the Speaker of the House of Representatives. See Florida Statutes 1.01
• 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.
• Limited revenue bonds: means any obligations issued by a unit to pay the cost of a project or improvement thereof, or combination of one or more projects or improvements thereof, and payable from funds, exclusive of ad valorem taxes, special assessments, or earnings from such projects or improvements. See Florida Statutes 218.31
• Local governmental entity: means a county agency, a municipality, or a special district as defined in…. See Florida Statutes 218.31
• Local governmental entity: means a county or municipal government, school board, school district, authority, special taxing district, other political subdivision, or any office, board, bureau, commission, department, branch, division, or institution thereof. See Florida Statutes 218.72
• Management letter: means a statement of the auditor's comments and recommendations as prescribed by rules adopted by the Auditor General. See Florida Statutes 218.31
• minor: includes any person who has not attained the age of 18 years. See Florida Statutes 1.01
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Municipality: means a municipality created pursuant to general or special law and metropolitan and consolidated governments as provided in…. See Florida Statutes 218.72
• 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.
• Office of Economic and Demographic Research: means an entity designated by joint rule of the Legislature or by agreement between the President of the Senate and the Speaker of the House of Representatives. See Florida Statutes 1.01
• Oversight: Committee review of the activities of a Federal agency or program.
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Payment request: means a request for payment for construction services which conforms with all statutory requirements and all requirements specified by the local governmental entity to which the payment request is submitted. See Florida Statutes 218.72
• person: includes individuals, children, firms, associations, joint adventures, partnerships, estates, trusts, business trusts, syndicates, fiduciaries, corporations, and all other groups or combinations. See Florida Statutes 1.01
• Personal property: All property that is not real property.
• political subdivision: include counties, cities, towns, villages, special tax school districts, special road and bridge districts, bridge districts, and all other districts in this state. See Florida Statutes 1.01
• Population: means the latest official state estimate of population certified pursuant to…. See Florida Statutes 218.60
• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• Proper invoice: means an invoice that conforms with all statutory requirements and all requirements specified by the local governmental entity to which the invoice is submitted. See Florida Statutes 218.72
• Purchase: means the purchase of goods, services, or construction services; the purchase or lease of personal property; or the lease of real property by a local governmental entity. See Florida Statutes 218.72
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• Revenue bonds: means any obligations issued by a unit to pay the cost of a project or improvement thereof, or combination of one or more projects or improvements thereof, and payable from the earnings of such project and any other special funds authorized to be pledged as additional security therefor. See Florida Statutes 218.31
• Short term: means a maximum of 6 months of operation. See Florida Statutes 218.403
• Special district: means a special district as defined in…. See Florida Statutes 218.31
• Statute: A law passed by a legislature.
• Surplus funds: means any funds in any general or special account or fund of a unit of local government, or funds held by an independent trustee on behalf of a unit of local government, which in reasonable contemplation will not be immediately needed for the purposes intended. See Florida Statutes 218.403
• Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
• Trust fund: means the pooled investment fund created by…. See Florida Statutes 218.403
• Trustee: A person or institution holding and administering property in trust.
• Unit of local government: means any governmental entity within the state not part of state government and shall include, but not be limited to, the following and the officers thereof: any county, municipality, school district, special district, clerk of the circuit court, sheriff, property appraiser, tax collector, supervisor of elections, authority, board, public corporations, or any other political subdivision of the state. See Florida Statutes 218.403
• Utility tax relief: means a dollar amount which represents a reduction in taxes to be collected pursuant to ss. See Florida Statutes 218.60
• Vendor: means any person who sells goods or services, sells or leases personal property, or leases real property directly to a local governmental entity. See Florida Statutes 218.72
• writing: includes handwriting, printing, typewriting, and all other methods and means of forming letters and characters upon paper, stone, wood, or other materials. See Florida Statutes 1.01