Terms Used In Maine Revised Statutes Title 10 Sec. 1032

• 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
• Authority: means the Finance Authority of Maine as established by this chapter. See Maine Revised Statutes Title 10 Sec. 963-A
• Bond: means revenue obligation security. See Maine Revised Statutes Title 10 Sec. 963-A
• Contract: A legal written agreement that becomes binding when signed.
• 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.
• Fraud: Intentional deception resulting in injury to another.
• Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
• Insured: means any individual, partnership, corporation, association or other entity which is the beneficiary of a loan insurance agreement with the authority. See Maine Revised Statutes Title 10 Sec. 963-A
• 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}
• Interest rate swap agreement: means a financial agreement as defined by the Finance Authority of Maine by rule in accordance with the Maine Administrative Procedure Act, Title 5, chapter 375. See Maine Revised Statutes Title 10 Sec. 963-A
• Loan: means an extension of credit made in consideration of a written promise of repayment or any other conditions that may be established by the authority, performance of which may be secured by mortgage. See Maine Revised Statutes Title 10 Sec. 963-A
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgage: means an agreement granting a lien upon or a security interest in eligible collateral upon certain conditions and includes, but is not limited to, a mortgage of real estate, an assignment of rents, a pledge or a security agreement. See Maine Revised Statutes Title 10 Sec. 963-A
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• 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.
• Professional: when used with reference to office space, means professions or professionals regulated or licensed under applicable state law. See Maine Revised Statutes Title 10 Sec. 963-A
• security: means a note, bond, interim certificate, debenture or other evidence of indebtedness, including any recovery zone facility bond or qualified energy conservation bond, payment of which is secured by a pledge of revenues, as provided in section 1045?A or 1065, or by assignment or pledge of other eligible collateral. See Maine Revised Statutes Title 10 Sec. 963-A
• Swap counterparty: means a person who is a party to an interest rate swap agreement. See Maine Revised Statutes Title 10 Sec. 963-A