§ 39.50.010 Definitions
§ 39.50.020 Short-term obligations authorized
§ 39.50.030 Issuance of short-term obligations — Procedure — Interest rate — Contracts for future sale
§ 39.50.040 Refunding and renewal of short-term obligations
§ 39.50.050 Short-term obligations — Security
§ 39.50.060 Nonvoted general indebtedness
§ 39.50.070 Funds for payment of principal and interest
§ 39.50.900 Chapter cumulative — Applicability to joint operating agencies
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Terms Used In Washington Code > Chapter 39.50 - Short-term obligations -- Municipal corporations

  • 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.
  • 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.
  • Governing body: means the legislative authority of a municipal corporation by whatever name designated;
Washington Code 39.50.010
  • 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
  • Local improvement district: includes local improvement districts, utility local improvement districts, road improvement districts, and other improvement districts that a municipal corporation is authorized by law to establish;
    • Washington Code 39.50.010
  • Municipal corporation: means any city, town, county, water-sewer district, school district, port district, public utility district, metropolitan municipal corporation, public transportation benefit area, park and recreation district, irrigation district, fire protection district or any other municipal or quasi municipal corporation described as such by statute, or regional transit authority, except joint operating agencies under chapter 43. See Washington Code 39.50.010
  • 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.
  • Ordinance: means an ordinance of a city or town or resolution or other instrument by which the governing body of the municipal corporation exercising any power under this chapter takes formal action and adopts legislative provisions and matters of some permanency; and
    • Washington Code 39.50.010
  • Statute: A law passed by a legislature.
  • Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.