Terms Used In Maine Revised Statutes > Title 20-A > Part 2 > Chapter 114-A - Fund for the Efficient Delivery of Educational Services

• Agency: means the Finance Authority of Maine. See Maine Revised Statutes Title 38 Sec. 2211
• 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
• Bond: means revenue obligation security. See Maine Revised Statutes Title 38 Sec. 2211
• Contract: A legal written agreement that becomes binding when signed.
• Department: means the Department of Education. See Maine Revised Statutes Title 20-A Sec. 1
• 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.
• 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.
• Fraud: Intentional deception resulting in injury to another.
• 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}
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgage: means an agreement granting a lien on, or a security interest in, eligible collateral with certain conditions and includes, but is not limited to, a mortgage of real estate, an assignment of rents, a pledge or a security agreement. See Maine Revised Statutes Title 38 Sec. 2211
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• mortgage loan: means an extension of credit made in consideration of a written promise of repayment or any other conditions which may be established by the agency, performance of which may be secured by a mortgage. See Maine Revised Statutes Title 38 Sec. 2211
• Municipality: includes cities, towns and plantations, except that "municipality" does not include plantations in Title 10, chapter 110, subchapter IV; or Title 30?A, Part 2. See Maine Revised Statutes Title 1 Sec. 72
• 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.
• Public school: means a school that is governed by a school board of a school administrative unit and funded primarily with public funds. See Maine Revised Statutes Title 20-A Sec. 1
• School administrative unit: means the state-approved unit of school administration and includes a municipal school unit, school administrative district, community school district, regional school unit or any other municipal or quasi-municipal corporation responsible for operating or constructing public schools, except that it does not include a career and technical education region. See Maine Revised Statutes Title 20-A Sec. 1
• security: means a note, bond, interim certificate, debenture or other evidence of indebtedness, payment of which is secured by a pledge of revenues, as provided in this article or by assignment or pledge of other eligible collateral. See Maine Revised Statutes Title 38 Sec. 2211