Terms Used In Louisiana Revised Statutes > Title 51 > Chapter 52 - The Louisiana Community Development Financial Institution Act

• 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.
• Ancillary agreement: means any bond, insurance policy, letter of credit, reserve account, surety bond, swap arrangement, hedging arrangement, liquidity or credit support arrangement, or other financial arrangement entered into in connection with the issuance or payment of system restoration bonds. See Louisiana Revised Statutes 45:1312
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• 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.
• Commission: means the Public Service Commission or, solely with respect to an electric or gas utility furnishing electric or natural gas service within the city of New Orleans, the council of the city of New Orleans, as applicable. See Louisiana Revised Statutes 45:1312
• Corporation: means the Louisiana Utilities Restoration Corporation. See Louisiana Revised Statutes 45:1312
• Counterclaim: A claim that a defendant makes against a plaintiff.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Electric utility: means an "electric public utility" as defined in La. See Louisiana Revised Statutes 45:1312
• Enrolled bill: The final copy of a bill or joint resolution which has passed both chambers in identical form. It is printed on parchment paper, signed by appropriate officials, and submitted to the President/Governor for signature.
• 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.
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Executive session: A portion of the Senate's daily session in which it considers executive business.
• Fiduciary: A trustee, executor, or administrator.
• Financing costs: means any of the following:

              (a) Interest and acquisition, defeasance, or redemption premiums that are payable on system restoration bonds. See Louisiana Revised Statutes 45:1312

• Financing order: means an order of the commission, if granted by the commission in its sole discretion, which allows for all of the following:

              (a) The assessment, imposition, and periodic adjustment of system restoration charges by the corporation and the collection thereof by a utility as an agent on behalf of the corporation. See Louisiana Revised Statutes 45:1312

• Financing party: means any holder of system restoration bonds, any party to or beneficiary of an ancillary agreement, and any trustee, collateral agent, or other person acting for the benefit of any of the foregoing. See Louisiana Revised Statutes 45:1312
• 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.
• Gas utility: means a local distributing system selling natural gas to retail customers. See Louisiana Revised Statutes 45:1312
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Governing board: means that board of directors of the corporation which is established under La. See Louisiana Revised Statutes 45:1312
• Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. ^{Source: Federal Reserve}
• 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}
• Issuance costs: means any of the following:

              (a) Any initial payment made on issuance of, and any amount required to fund any system restoration sinking fund, reserve or overcollateralization fund, or other fund or account required by the documents pertaining to, system restoration bonds authorized by a financing order. See Louisiana Revised Statutes 45:1312

• Issuer: means any Louisiana public corporation, public trust, or other entity that issues system restoration bonds approved by a financing order. See Louisiana Revised Statutes 45:1312
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien creditor: means any of the following:

              (a) A creditor that has acquired a lien on the property involved by attachment, sequestration, seizure, levy, or the like. See Louisiana Revised Statutes 45:1312

• 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.
• State: means the state of Louisiana. See Louisiana Revised Statutes 45:1312
• Storm: means a named tropical storm or hurricane, ice or snow storm, flood, or other significant weather or natural disaster that occurred during calendar year 2005 or that occurs thereafter. See Louisiana Revised Statutes 45:1312
• Storm damage reserve: means a utility's storm reserve or such other similar reserve established pursuant to order or rule of the commission. See Louisiana Revised Statutes 45:1312
• System restoration activity: means any activity or activities by or on behalf of a utility in connection with the restoration of service associated with utility outages affecting customers of a utility as the result of a storm or storms, including but not limited to mobilization, staging, and construction, reconstruction, replacement, or repair of generation, transmission, distribution, or general plant facilities. See Louisiana Revised Statutes 45:1312
• System restoration bonds: means bonds, notes, certificates of participation, or other evidences of indebtedness that are issued pursuant to this Part by an issuer at the request of the corporation and a utility, and authorized by a financing order, the net proceeds of which are transferred to the corporation and used as provided in this Part, and which are secured by and payable from system restoration property. See Louisiana Revised Statutes 45:1312
• System restoration charge: means the nonbypassable charges, if determined appropriate by the commission and provided for in a financing order, to be assessed by the corporation on, and collected by the utility or other collection agent from, all existing and future customers of a utility, and periodically adjusted, in an amount sufficient at all times to pay the principal of and interest on particular system restoration bonds as the same shall become due and payable, all other financing costs, and any other costs as necessary to otherwise ensure the timely payment of such system restoration bonds, all as the commission may authorize in a financing order. See Louisiana Revised Statutes 45:1312
• System restoration costs: means , if requested by the utility, and as may be approved by the commission, those prudent incremental costs incurred or to be incurred by a utility in undertaking a system restoration activity, including associated carrying costs. See Louisiana Revised Statutes 45:1312
• System restoration property: means all of the following:

              (a) All rights and interests of the corporation arising out of this Part, including the right to receive system restoration charges billed and collected by the utility on the behalf of the corporation as authorized in the financing order, the right to enforce the obligations of the utility to collect and service the system restoration charges, and the right to obtain periodic adjustments to such charges as provided in the financing order and this Part. See Louisiana Revised Statutes 45:1312

• Trustee: A person or institution holding and administering property in trust.
• Utility: means an electric utility or a gas utility. See Louisiana Revised Statutes 45:1312