Terms Used In West Virginia Code 13-2G-2

• Bonds: means general obligation bonds, review bonds, notes or other debt instruments issued by the state, a state agency or a state authority. See West Virginia Code 13-2G-2
• Code: means the Code of West Virginia, 1931, as amended. See West Virginia Code 13-2G-2
• 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.
• 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}
• Legislature: means the Legislature of this state. See West Virginia Code 13-2G-2
• 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.
• State: means the State of West Virginia, a state agency or a state authority. See West Virginia Code 13-2G-2
• State agency: means any office, department, cabinet, board, commission, entity, bureau, division, public corporation, agency, or instrumentality of the state authorized to issue bonds. See West Virginia Code 13-2G-2
• State authority: means any authority authorized to issue bonds, including, but without limitations, the university of West Virginia board of trustees and the board of directors of the state college system. See West Virginia Code 13-2G-2
• Swap agreement: means an agreement which is a rate swap agreement, basis swap, forward rate agreement, commodity swap, interest rate opinion, forward foreign exchange agreement, rate cap agreement, rate floor agreement, rate collar agreement, currency swap agreement, cross-currency rate swap agreement, currency option, any similar agreement or any combination of the foregoing. See West Virginia Code 13-2G-2