Terms Used In Louisiana Revised Statutes > Title 17 > Chapter 42 > Part II - State Chartering Authority

• Charter school: means an independent public school that provides a program of elementary or secondary education, or both, established pursuant to and in accordance with the provisions of this Chapter to provide a learning environment that will improve pupil achievement. See Louisiana Revised Statutes 17:3973
• Chartering authority: means either a local school board or the State Board of Elementary and Secondary Education. See Louisiana Revised Statutes 17:3973
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• 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}
• Local school board: means any city, parish, or other local public school board. See Louisiana Revised Statutes 17:3973
• Oversight: Committee review of the activities of a Federal agency or program.
• State board: means the State Board of Elementary and Secondary Education. See Louisiana Revised Statutes 17:3973