Terms Used In Arizona Laws > Title 28 > Chapter 21 > Article 5 - Highway Expansion and Extension Loan Program

• 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
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Board: means the transportation board. See Arizona Laws 28-101
• 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.
• Department: means the department of transportation acting directly or through its duly authorized officers and agents. See Arizona Laws 28-101
• Director: means the director of the department of transportation. See Arizona Laws 28-101
• Eligible highway project: means a highway project that is both:

  (a) On the federal aid system, national highway system or state route or state highway system. See Arizona Laws 28-7671

• 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.
• Fund: means the highway expansion and extension loan program fund established by section 28-7674. See Arizona Laws 28-7671
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• highway: means the entire width between the boundary lines of every way if a part of the way is open to the use of the public for purposes of vehicular travel. See Arizona Laws 28-101
• including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
• Indian tribe: means any Indian tribe, band, group or community that is recognized by the United States secretary of the interior and that exercises governmental authority within the limits of any Indian reservation under the jurisdiction of the United States government, notwithstanding the issuance of any patent and including rights-of-way running through the reservation. See Arizona Laws 28-7671
• 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.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Loan repayment agreement: means one or more loan agreements, instruments or other agreements providing for repayment of a loan or other financial assistance and entered into by this state or its agencies, including the department, or a political subdivision or Indian tribe. See Arizona Laws 28-7671
• 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.
• Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
• Political subdivision: means a county, city, town or special taxing district authorized by law to construct or assist in the construction of an eligible highway project or a county, city, town or special taxing district established pursuant to section 48-5102 to construct or assist in the construction of a transportation project. See Arizona Laws 28-7671
• Population: means the population according to the most recent United States decennial census. See Arizona Laws 1-215
• Right-of-way: when used within the context of the regulation of the movement of traffic on a highway means the privilege of the immediate use of the highway. See Arizona Laws 28-101
• SIB cooperative agreement: means a cooperative agreement or agreements entered into by the Arizona department of transportation with the United States department of transportation pursuant to this article and the federal SIB act. See Arizona Laws 28-7671
• State: means a state of the United States and the District of Columbia. See Arizona Laws 28-101
• State highway: means a state route or portion of a state route that is accepted and designated by the board as a state highway and that is maintained by the state. See Arizona Laws 28-101
• Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
• Transportation project: means all or a portion of a project that is included in the state's transportation improvement program or a plan, as defined in section 28-6351, including the project planning, environmental work, design, right-of-way acquisition or construction for the transportation project and associated rolling stock and operating systems but not including an eligible highway project. See Arizona Laws 28-7671
• United States: includes the District of Columbia and the territories. See Arizona Laws 1-215
• Writing: includes printing. See Arizona Laws 1-215