Terms Used In South Carolina Code > Title 10 > Chapter 11 > Article 1 - General Provisions

• 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.
• Arrest: Taking physical custody of a person by lawful authority.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Authority: means the Tobacco Settlement Revenue Management Authority, as established by this chapter. See South Carolina Code 11-49-20
• Authority: means the South Carolina Rural Infrastructure Authority. See South Carolina Code 11-50-40
• Board: means the governing body of the authority. See South Carolina Code 11-49-20
• Board: means the board of directors of the authority. See South Carolina Code 11-50-40
• Bonds: means special source bonds, notes, or other evidences of indebtedness of the authority payable solely from and secured solely by the State's tobacco receipts, issued pursuant to the authorizations contained in this chapter and in Section 13(9), Article X of the Constitution of this State. See South Carolina Code 11-49-20
• Conviction: A judgement of guilt against a criminal defendant.
• Eligible cost: means as applied to a qualified project to be financed from the Rural Infrastructure Fund, the costs that are permitted under applicable laws, requirements, procedures, and guidelines in regard to establishing, operating, and providing assistance from the authority. See South Carolina Code 11-50-40
• Eligible entity: means a municipality, county, special purpose or public service district, and public works commission. See South Carolina Code 11-50-40
• Eligible project: means rural infrastructure as defined in item (13). See South Carolina Code 11-50-40
• 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.
• Ex officio: Literally, by virtue of one's office.
• 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}
• 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.
• Loan: means an obligation subject to repayment which is provided by the authority to a qualified borrower for all or a part of the eligible cost of a qualified project. See South Carolina Code 11-50-40
• Master settlement agreement: means the settlement agreement and related documents entered into on November 23, 1998, by the State and the four principal United States tobacco product manufacturers, as amended and supplemented. See South Carolina Code 11-49-20
• Oath: A promise to tell the truth.
• 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.
• Other financial assistance: means , but is not limited to, grants, contributions, credit enhancement, capital or debt reserves for bonds or debt instrument financing, interest rate subsidies, provision of letters of credit and credit instruments, provision of bond or other debt financing instrument security, and other lawful forms of financing and methods of leveraging funds that are approved by the board. See South Carolina Code 11-50-40
• Participating manufacturers: means the participating manufacturers as that term is defined in the master settlement agreement. See South Carolina Code 11-49-20
• Qualified borrower: means any eligible entity which is authorized to construct, operate, or own a qualified project. See South Carolina Code 11-50-40
• Qualified project: means an eligible project which has been selected by the authority to receive a loan or other financial assistance from the authority to defray an eligible cost. See South Carolina Code 11-50-40
• 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.
• Rural infrastructure project: means the acquisition, construction, installation, modification, renovation, repair, extension, renewal, replacement, or rehabilitation of land, interest in land, buildings, structures, facilities, or other improvements and the acquisition, installation, modification, renovation, repair, extension, renewal, replacement, rehabilitation, or furnishing of fixtures, machinery, equipment, furniture, or other property of any nature whatsoever used on, in, or in connection with any such land, interest in land, building, structure, facility, or other improvement, for the essential public purpose of providing environmental facilities and services to meet public health and environmental standards and to aid the development of trade, commerce, industry, agriculture, aquaculture, and employment opportunities, all of which must be primarily located in a county designated as distressed or least developed pursuant to § 12-6-3360 for 2009 or located in a county with a project that otherwise meets the requirements of this item. See South Carolina Code 11-50-40
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• this State: means the State of South Carolina. See South Carolina Code 11-49-20