Terms Used In Texas Water Code Chapter 49 > Subchapter I - Construction, Equipment, Materials, and Machinery Contracts

• 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.
• Board: means the governing body of a district. See Texas Water Code 49.001
• Contract: A legal written agreement that becomes binding when signed.
• 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.
• 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
• Executive director: means the executive director of the commission. See Texas Water Code 49.001
• in writing: includes any representation of words, letters, or figures, whether by writing, printing, or other means. See Texas Government Code 312.011
• 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}
• 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.
• Week: means seven consecutive days. See Texas Government Code 311.005
• Year: means 12 consecutive months. See Texas Government Code 311.005