Terms Used In Louisiana Revised Statutes > Title 11 > Subtitle II > Chapter 1 > Part V - Board of Trustees

• 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.
• 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.
• Amortization: Paying off a loan by regular installments.
• Annual appropriation dependency clause: shall mean a clause which shall be included in any lease-purchase financing document which provides that if, after a diligent and good faith effort by the state to appropriate funds for the payment of sums due under a lease-purchase financing agreement, such funds are not appropriated, such lease-purchase agreement shall terminate in accordance with the terms of the lease-purchasing financing agreement, and the state shall not be liable for the payment of further sums due on such agreements past the then current fiscal year, provided possession of the project is returned to the corporation. See Louisiana Revised Statutes 39:1800.22
• Appropriation: means an authorization by the legislature to a budget unit for a program to expend from public funds a sum of money, for purposes designated, under the procedure prescribed in this Chapter. See Louisiana Revised Statutes 39:2
• 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: means the Board of Trustees of the Louisiana State Employees' Retirement System. See Louisiana Revised Statutes 11:403
• Bonds: means bonds, notes, or any other evidence of indebtedness issued by the corporation. See Louisiana Revised Statutes 39:1800.22
• Budget office: means the section of the division of administration which monitors budgeting functions. See Louisiana Revised Statutes 39:2
• Center of excellence: means a community college or vocational technical facility which provides customized education and training programs for targeted industries that drive Louisiana's economy. See Louisiana Revised Statutes 39:1800.22
• Certificates: means certificates of participation executed and delivered by a trustee evidencing ownership interests in any lease entered into by the state or the system, as lessee, and the corporation, as lessor. See Louisiana Revised Statutes 39:1800.22
• Concurrent resolution: A legislative measure, designated "S. Con. Res." and numbered consecutively upon introduction, generally employed to address the sentiments of both chambers, to deal with issues or matters affecting both houses, such as a concurrent budget resolution, or to create a temporary joint committee. Concurrent resolutions are not submitted to the President/Governor and thus do not have the force of law.
• Consensus estimating conference: means the Economic Estimating Conference, the Demographic Estimating Conference, the Education Estimating Conference, the Criminal Justice Estimating Conference, the Health and Social Services Estimating Conference, and the Transportation Estimating Conference. See Louisiana Revised Statutes 39:2
• Corporation: means the nonprofit corporation authorized to be formed by this Chapter, or any corporation succeeding to the principal functions thereof or to which the powers conferred upon the corporation by this Chapter shall be given by law. See Louisiana Revised Statutes 39:1798
• Corporation: means the public nonprofit corporation authorized to be formed by this Chapter, or any corporation succeeding to the principal functions thereof or to which the powers conferred upon the corporation by this Chapter shall be given by law. See Louisiana Revised Statutes 39:1800.22
• Creditable service: means prior service plus membership service for which credit is allowable as provided in this Chapter. See Louisiana Revised Statutes 11:403
• Current tax collections: means the current collections of the taxes imposed by Subtitle II of Title 47 of the Louisiana Revised Statutes of 1950. See Louisiana Revised Statutes 39:2
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Division of administration: means the division of administration created within the office of the governor by Title 39 of the Louisiana Revised Statutes of 1950. See Louisiana Revised Statutes 39:1800.22
• Ex officio: Literally, by virtue of one's office.
• Executive budget: means the document submitted to the legislature at each regular session, pursuant to the provisions of this Chapter and La. See Louisiana Revised Statutes 39:2
• Fiscal year: means the period beginning July first of any year and ending June thirtieth of the next succeeding year. See Louisiana Revised Statutes 11:403
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
• 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.
• Lawsuit: A legal action started by a plaintiff against a defendant based on a complaint that the defendant failed to perform a legal duty, resulting in harm to the plaintiff.
• 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}
• Lease-purchase financing: means the financing and acquisition of property by a corporation pursuant to an arrangement under which such corporation acquires title to property and enters into a lease-purchase agreement with the state providing for the leasing of the property by such corporation to the state and acquisition by the state at the end of the lease period of title to the property. See Louisiana Revised Statutes 39:1800.22
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Medical board: shall mean the State Medical Disability Board. See Louisiana Revised Statutes 11:403
• Member: means any person included in the membership of the system. See Louisiana Revised Statutes 11:403
• Money available for appropriation: means the amount of money to be received for a fiscal year by the state general fund and dedicated funds, exclusive of federal funds and those amounts appropriated or allocated by the Constitution of Louisiana. See Louisiana Revised Statutes 39:2
• 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.
• Official forecast: means the most recently adopted estimate of money available for appropriation by the Revenue Estimating Conference as provided in La. See Louisiana Revised Statutes 39:2
• Official information: means data, forecasts, estimates, analyses, studies, and other information which the principals of a consensus estimating conference may adopt pursuant to a vote of the majority of the principals of that conference. See Louisiana Revised Statutes 39:2
• Oversight: Committee review of the activities of a Federal agency or program.
• Project: means the planning, acquisition, purchase, construction, renovation, improvement, equipping, or expansion of a public facility by the corporation, provided that no more than fifty percent of the total project cost shall be financed with funds provided through bonds issued pursuant to this Chapter. See Louisiana Revised Statutes 39:1800.22
• Public facilities: means buildings, parking garages, and related facilities used or to be used as a center of excellence for students, faculty and staff of the Louisiana Community and Technical College System, and all land, buildings and movable or immovable equipment incorporated therein and relating thereto. See Louisiana Revised Statutes 39:1800.22
• Quorum: The number of legislators that must be present to do business.
• 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.
• Retirement: means termination of active service, with a retirement allowance granted under the provisions of this Chapter. See Louisiana Revised Statutes 11:403
• Service of process: The service of writs or summonses to the appropriate party.
• State: means the state of Louisiana. See Louisiana Revised Statutes 11:403
• State: means the state of Louisiana or any agency or instrumentality thereof. See Louisiana Revised Statutes 39:1798
• Statute: A law passed by a legislature.
• System: means the Louisiana State Employees' Retirement System. See Louisiana Revised Statutes 11:403
• System: means the Louisiana Community and Technical College System. See Louisiana Revised Statutes 39:1800.22
• Termination: means complete cessation of employment with the state. See Louisiana Revised Statutes 11:403
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Trustee: A person or institution holding and administering property in trust.