Terms Used In Indiana Code > Title 5 > Article 8 > Chapter 5 - Notice of a Town Council Vacancy

• 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
• associate member: refers to a county or municipality that adopted an ordinance or resolution under section 16 of this chapter specifying that the county or municipality has chosen to become an associate member. See Indiana Code 36-7.5-4.5-0.5
• Attorney: includes a counselor or other person authorized to appear and represent a party in an action or special proceeding. See Indiana Code 1-1-4-5
• base assessed value: means :

  Indiana Code 36-7.5-4.5-1

• Bequest: Property gifted by will.
• budget agency: means the budget agency established by IC 4-12-1-3. See Indiana Code 36-7.5-4.5-2
• cash participant: refers to a county or municipality that has adopted an ordinance or resolution under section 16 of this chapter specifying that the county or municipality has chosen to become a cash participant. See Indiana Code 36-7.5-4.5-2.5
• Caucus: From the Algonquian Indian language, a caucus meant "to meet together." An informal organization of members of the legislature that exists to discuss issues of mutual concern and possibly to perform legislative research and policy planning for its members. There are regional, political or ideological, ethnic, and economic-based caucuses.
• Clerk: means the clerk of the court or a person authorized to perform the clerk's duties. See Indiana Code 1-1-4-5
• 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.
• corridor: means the geographic area established as a rail transit development corridor by this chapter. See Indiana Code 36-7.5-4.5-3
• department: refers to the department of state revenue. See Indiana Code 36-7.5-4.5-4
• development project: includes only development projects that benefit the corridor. See Indiana Code 36-7.5-4.5-5
• district: refers to a transit development district established by the development authority under this chapter. See Indiana Code 36-7.5-4.5-6
• Donor: The person who makes a gift.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• 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.
• gross retail tax base period amount: means the aggregate amount of state gross retail taxes remitted under Indiana Code 36-7.5-4.5-7
• gross retail tax increment revenue: means the remainder of:

  Indiana Code 36-7.5-4.5-8

• 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.
• 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}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien: A claim against real or personal property in satisfaction of a debt.
• local income tax base period amount: means the total amount of local income tax (Indiana Code 36-7.5-4.5-9
• local income tax increment revenue: means the remainder of:

  Indiana Code 36-7.5-4.5-10

• member: refers to a town council member. See Indiana Code 5-8-5-2
• 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.
• Population: has the meaning set forth in Indiana Code 1-1-4-5
• Probate: Proving a will
• Property: includes personal and real property. See Indiana Code 1-1-4-5
• property tax increment revenue: means the property taxes attributable to the assessed value of property located in a district in excess of the base assessed value. See Indiana Code 36-7.5-4.5-11
• Quorum: The number of legislators that must be present to do business.
• rail project: refers to the following:

  Indiana Code 36-7.5-4.5-12

• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• real property: include lands, tenements, and hereditaments. See Indiana Code 1-1-4-5
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• state income tax base period amount: means the aggregate amount of state adjusted gross income taxes paid or remitted by or on behalf of:

  Indiana Code 36-7.5-4.5-13

• state income tax increment revenue: means the remainder of:

  Indiana Code 36-7.5-4.5-14

• Statute: A law passed by a legislature.
• Trustee: A person or institution holding and administering property in trust.
• United States: includes the District of Columbia and the commonwealths, possessions, states in free association with the United States, and the territories. See Indiana Code 1-1-4-5
• Verified: when applied to pleadings, means supported by oath or affirmation in writing. See Indiana Code 1-1-4-5
• Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5