Terms Used In California Codes > Public Resources Code > Division 12.1 > Chapter 7 - Financial Provisions

• Affected county: means any county which contains or would contain territory which is the subject of a boundary change. See California Government Code 23201
• assessed value: means 25 percent of full value to, and including, the 1980-81 fiscal year, and 100 percent of full value for the 1981-82 fiscal year and fiscal years thereafter. See California Government Code 25
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Board: means the governing body of a local taxing entity. See California Government Code 975
• Clerk: means the clerk of a county board of supervisors. See California Government Code 23231
• Commission: means the County Boundary Review Commission. See California Government Code 23231
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Grantor: The person who establishes a trust and places property into it.
• 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}
• Lien: A claim against real or personal property in satisfaction of a debt.
• Local taxing entity: means a local public entity that has the power to levy ad valorem taxes, or ad valorem assessments, upon property within the territory of the entity. See California Government Code 975
• Owner: means the owner as shown on the last equalized assessment roll, except that the person entitled to be shown as owner on the current assessment roll shall be deemed the owner, and except that, where the property affected is subject to a recorded written agreement to buy, the purchaser under such agreement to buy shall be deemed the owner. See California Government Code 23231
• prescription drug claims processor: as used in this part , means any nongovernmental entity which has a contractual relationship with purchasers of prepaid or insured prescription drug benefits, and which processes, consults, advises on, or otherwise assists in the processing of prepaid or insured prescription drug benefit claims submitted by a licensed California pharmacy or patron thereof. See California Civil Code 2527
• property: includes property real and personal. See California Civil Code 14
• Royalty recipient: means a party to a contract for the furnishing of services in the production of sound recordings, as defined in Section 101 of Title 17 of the United States Code, who has the right to receive royalties under that contract. See California Civil Code 2500
• Transferring county: means the county from which territory is, or is proposed to be, transferred by reason of a county boundary change. See California Government Code 23231
• will: includes codicil. See California Civil Code 14