Terms Used In Texas Water Code Chapter 49 > Subchapter H - Powers and Duties

• Appraisal: A determination of property value.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Board: means the governing body of a district. See Texas Water Code 49.001
• Commission: means the Texas Natural Resource Conservation Commission. See Texas Water Code 49.001
• Contract: A legal written agreement that becomes binding when signed.
• Conviction: A judgement of guilt against a criminal defendant.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Director: means either a supervisor or director appointed or elected to the board. See Texas Water Code 49.001
• District: means any district or authority created by authority of either Sections Texas Water Code 49.001
• District facility: means tangible real and personal property of the district, including any plant, equipment, means, recreational facility as defined by § 49. See Texas Water Code 49.001
• 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.
• Executive director: means the executive director of the commission. See Texas Water Code 49.001
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Grantor: The person who establishes a trust and places property into it.
• 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}
• 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.
• Lawsuit: A legal action started by a plaintiff against a defendant based on a complaint that the defendant failed to perform a legal duty, resulting in harm to the plaintiff.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Month: means a calendar month. See Texas Government Code 312.011
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• Oath: includes affirmation. See Texas Government Code 311.005
• 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.
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Personal property: All property that is not real property.
• Population: means the population shown by the most recent federal decennial census. See Texas Government Code 311.005
• Potable water: means water that has been treated for public drinking water supply purposes. See Texas Water Code 49.001
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Rule: includes regulation. See Texas Government Code 311.005
• Special water authority: means a river authority as that term is defined in Section 30. See Texas Water Code 49.001
• Statute: A law passed by a legislature.
• United States: includes a department, bureau, or other agency of the United States of America. See Texas Government Code 311.005
• Water supply corporation: means a nonprofit water supply or sewer service corporation created or operating under Chapter 67. See Texas Water Code 49.001
• Week: means seven consecutive days. See Texas Government Code 311.005
• Year: means 12 consecutive months. See Texas Government Code 311.005