Terms Used In Louisiana Revised Statutes > Title 39 > Subtitle III > Chapter 15 - Advance Refunding of Bonds

• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Government obligations: means direct obligations of or obligations the payment of the principal and interest of which is unconditionally guaranteed by the United States of America. See Louisiana Revised Statutes 39:1461
• 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}
• 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.
• Outstanding bonds: means all or any one or more of the following bonds issued directly by the state or by any state board, agency, or commission which may be outstanding at any time:

  (a)  General obligation bonds which are secured by the full faith and credit of the state, which may or may not be payable from the Bond Security and Redemption Fund, including those bonds which are payable primarily from specified portions of specific taxes or other dedicated revenues. See Louisiana Revised Statutes 39:1461

• person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
• Refund: means the act of refunding, including readjusting, extending, and unifying outstanding bonds or issues of bonds. See Louisiana Revised Statutes 39:1461
• Refunded bonds: means the bonds being refunded by the issuance of refunding bonds. See Louisiana Revised Statutes 39:1461