Terms Used In Indiana Code > Title 4 > Article 13 > Chapter 2 - Financial Reorganization Act of 1947

• advance: means an advance under this chapter from the fund. See Indiana Code 20-49-4-3
• advance: refers to an advance under this chapter. See Indiana Code 20-49-9-2
• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• agency: refers to every officer, board, commission, department, division, bureau, committee, employee, and other instrumentality of the state, including: state hospitals, state penal institutions, and other state institution enterprises and activities wherever located, except, unless specifically included, the following:

  Indiana Code 4-13-2-1

• 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.
• Attorney: includes a counselor or other person authorized to appear and represent a party in an action or special proceeding. See Indiana Code 1-1-4-5
• 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.
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Bequest: Property gifted by will.
• board: has the meaning set forth in IC 20-25-2-5. See Indiana Code 20-48-3-2
• board of county commissioners: refers to the board of county commissioners of a qualified county. See Indiana Code 20-45-8-4
• capital actually invested: includes the following amounts expended by a lessor corporation:

  Indiana Code 20-47-2-2

• charter school: refers to a school established under IC 20-24. See Indiana Code 20-49-4-3.5
• charter school: refers to a school established under IC 20-24. See Indiana Code 20-49-9-3
• Clerk: means the clerk of the court or a person authorized to perform the clerk's duties. See Indiana Code 1-1-4-5
• 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 auditor: means the county auditor of a qualified county. See Indiana Code 20-45-8-5
• Deed: The legal instrument used to transfer title in real property from one person to another.
• disaster: refers to loss by:

  Indiana Code 20-49-4-4

• educational technology program: means the:

  Indiana Code 20-49-4-5

• Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) ^{Source: OCC}
• Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
• 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.
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• 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.
• fund: means the county school distribution fund:

  Indiana Code 20-45-8-6

• fund: refers to the debt service fund. See Indiana Code 20-46-7-1
• fund: refers to a school safety referendum tax levy fund established by the governing body of a school corporation under IC 20-40-20-4. See Indiana Code 20-46-9-1
• fund: refers to the common school fund in the custody of the treasurer of state. See Indiana Code 20-49-3-3
• fund: refers to the common school fund in the custody of the treasurer of state. See Indiana Code 20-49-4-6
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• improved school building: means an existing school building as improved, renovated, remodeled, or expanded by a lessor corporation. See Indiana Code 20-47-4-3
• in writing: include printing, lithographing, or other mode of representing words and letters. See Indiana Code 1-1-4-5
• 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}
• Joint meeting: An occasion, often ceremonial, when the House and Senate each adopt a unanimous consent agreement
• Judgment: means all final orders, decrees, and determinations in an action and all orders upon which executions may issue. See Indiana Code 1-1-4-5
• 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}
• lessor corporation: means a corporation described in section 6 of this chapter. See Indiana Code 20-47-2-3
• levy: refers to a levy imposed under this chapter. See Indiana Code 20-46-7-2
• levy: refers to the property tax levy imposed under this chapter. See Indiana Code 20-46-9-2
• 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.
• minor: means a person less than eighteen (18) years of age. See Indiana Code 1-1-4-5
• Month: means a calendar month, unless otherwise expressed. See Indiana Code 1-1-4-5
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• 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.
• paying qualified school corporation: means any qualified school corporation in which the tax collected on the assessed valuation of the qualified school corporation exceeds the amount of the entitlement payable to the qualified school corporation under this chapter. See Indiana Code 20-45-8-8
• Personal property: includes goods, chattels, evidences of debt, and things in action. See Indiana Code 1-1-4-5
• Personal property: All property that is not real property.
• Population: has the meaning set forth in Ind. See Indiana Code 1-1-4-5
• Property: includes personal and real property. See Indiana Code 1-1-4-5
• public school endowment corporation: means a corporation that is:

  Indiana Code 20-47-1-2

• qualified county: refers to Dearborn County. See Indiana Code 20-45-8-9
• qualified school corporation: means a school corporation that has under its jurisdiction any territory that is located in the qualified county. See Indiana Code 20-45-8-10
• receiving qualified school corporation: means any qualified school corporation receiving an entitlement under this chapter that exceeds the amount of the tax collected on the assessed valuation of the qualified school corporation. See Indiana Code 20-45-8-11
• referendum: refers to a referendum under this chapter. See Indiana Code 20-46-9-3
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• resolution to extend a referendum levy: refers to a resolution adopted under sections 6 and 7 of this chapter to place a referendum on the ballot requesting authority to continue imposing a tax rate, which is the same as or lower than the tax rate previously approved by the voters of the school corporation. See Indiana Code 20-46-9-4
• school: refers to a charter school or an innovation network school described in section 1(a)(2) of this chapter. See Indiana Code 20-49-9-4
• school building: means a building used as a part of or in connection with the operation of a school and includes the:

  Indiana Code 20-47-2-4

• school building: means a building used as part of or in connection with the operation of schools and includes the:

  Indiana Code 20-47-3-2

• school building: has the meaning set forth in IC 20-47-2-4 or IC 20-47-3-2. See Indiana Code 20-47-4-4
• school building construction program: means the following:

  Indiana Code 20-49-4-7

• school city: has the meaning set forth in IC 20-25-2-12. See Indiana Code 20-48-3-3
• services: means any and all articles and things, and all services other than personal, used by, or furnished to, any agency, including printing, binding, publication of books and records, repairs and improvements, utility services, and any and all other services required for the maintenance, operation, or upkeep of buildings and offices. See Indiana Code 4-13-2-1
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• Statute: A law passed by a legislature.
• tax: means the county supplemental school financing property tax to be levied by the board of county commissioners of a qualifying county under this chapter. See Indiana Code 20-45-8-12
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Trustee: A person or institution holding and administering property in trust.
• United States: includes the District of Columbia and the commonwealths, possessions, states in free association with the United States, and the territories. See Indiana Code 1-1-4-5
• Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5