New Mexico Statutes > Chapter 22 > Article 18A – School District Loans
Current as of: 2023 | Check for updates
|
Other versions
| § 22-18A-1 | Short title |
| § 22-18A-2 | Purpose |
| § 22-18A-3 | Fund created; administration |
| § 22-18A-4 | Loan program; duties of the state department of public education |
| § 22-18A-5 | Temporary transfer of funds |
Terms Used In New Mexico Statutes > Chapter 22 > Article 18A - School District Loans
- 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.
- 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.