Terms Used In Louisiana Revised Statutes > Title 51 > Chapter 9 > Subpart C - Louisiana Tourism Promotion District Act

• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Board: shall mean the board of directors of the district or any successor thereto. See Louisiana Revised Statutes 51:1283
• Constitution: shall mean the constitution of Louisiana, as amended. See Louisiana Revised Statutes 51:1283
• Contract: A legal written agreement that becomes binding when signed.
• District: shall mean the special district and political subdivision created, organized, and existing pursuant to the provisions of this Subpart or any successor thereto. See Louisiana Revised Statutes 51:1283
• 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.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• 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}
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• 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.
• Oversight: Committee review of the activities of a Federal agency or program.
• Personal property: All property that is not real property.
• Quorum: The number of legislators that must be present to do business.
• State: shall mean the state of Louisiana. See Louisiana Revised Statutes 51:1283