Terms Used In Louisiana Revised Statutes > Title 39 > Subtitle III > Chapter 17-B - Correctional Facilities Corporation

• Act: means this Correctional Facilities Corporation Act. See Louisiana Revised Statutes 39:1780
• Annual appropriation dependency clause: shall mean a clause which shall be included in any lease-purchase financing document or custody agreement which provides that after a diligent and good faith effort by the state to appropriate funds for the payment of sums due under a lease-purchase financing agreement or custody agreement, such funds are not appropriated, such lease-purchase agreement or custody agreement shall terminate and the state shall not be liable for the payment of further sums due on such agreements past the then current budget year. See Louisiana Revised Statutes 39:1780
• 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
• Bonds: means bonds, notes, or any other evidences of indebtedness issued by the corporation. See Louisiana Revised Statutes 39:1780
• Certificates: means certificates of participation executed and delivered by a trustee evidencing ownership interests in any lease entered into by the state, as lessee, and the corporation, as lessor. See Louisiana Revised Statutes 39:1780
• Conviction: A judgement of guilt against a criminal defendant.
• Corporation: means the nonprofit corporation authorized to be formed by this Chapter, or any corporation succeeding to the principal functions thereof or to which the powers conferred upon the corporation by this Chapter shall be given by law. See Louisiana Revised Statutes 39:1780
• Division of Administration: means the Division of Administration created within the office of the governor by Title 39 of the Louisiana Revised Statutes. See Louisiana Revised Statutes 39:1780
• 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.
• Lawsuit: A legal action started by a plaintiff against a defendant based on a complaint that the defendant failed to perform a legal duty, resulting in harm to the plaintiff.
• 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.
• Personal property: All property that is not real property.
• Project: means the financing of a correctional facility by the state, to be financed with funds provided in whole or in part pursuant to this Chapter. See Louisiana Revised Statutes 39:1780
• Quorum: The number of legislators that must be present to do business.
• State: means the state of Louisiana or any agency or instrumentality thereof. See Louisiana Revised Statutes 39:1780
• Statute: A law passed by a legislature.
• Trustee: A person or institution holding and administering property in trust.