Terms Used In Illinois Compiled Statutes > 765 ILCS 920 - Mortgage Payment Statement Act

• 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.
• Authority: means a School Finance Authority created under this Article. See Illinois Compiled Statutes 105 ILCS 5/1E-10
• Bonds: means bonds authorized to be issued by the Authority under Section 1E-65 of this Code. See Illinois Compiled Statutes 105 ILCS 5/1E-10
• Budget: means the annual budget of the district required under Section 17-1 of this Code, as in effect from time to time. See Illinois Compiled Statutes 105 ILCS 5/1E-10
• Chairperson: means the Chairperson of the Authority. See Illinois Compiled Statutes 105 ILCS 5/1E-10
• Contract: A legal written agreement that becomes binding when signed.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• District: means any school district having a population of not more than 500,000 that prior to the effective date of this amendatory Act of the 92nd General Assembly has had a Financial Oversight Panel established for the district under Section 1B-4 of this Code following the district's petitioning of the State Board of Education for the creation of the Financial Oversight Panel and for which the Financial Oversight Panel has been in existence for at least one year. See Illinois Compiled Statutes 105 ILCS 5/1E-10
• Financial plan: means the financial plan of the district to be developed pursuant to this Article, as in effect from time to time. See Illinois Compiled Statutes 105 ILCS 5/1E-10
• Grantor: The person who establishes a trust and places property into it.
• Heretofore: means any time previous to the day on which the statute takes effect; and the word "hereafter" at any time after such day. See Illinois Compiled Statutes 5 ILCS 70/1.17
• 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.
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
• Oversight: Committee review of the activities of a Federal agency or program.
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
• State Board: means the State Board of Education. See Illinois Compiled Statutes 105 ILCS 5/1E-10
• State Superintendent: means the State Superintendent of Education. See Illinois Compiled Statutes 105 ILCS 5/1E-10