Terms Used In Minnesota Statutes > Chapter 37 > STATE FAIR FOUNDATION BONDS

• Agricultural use: means the production of livestock, dairy animals, dairy products, poultry or poultry products, fur-bearing animals, horticultural or nursery stock, fruit, vegetables, forage, grains, timber, trees, or bees and apiary products. See Minnesota Statutes 40A.02
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Board: means the Board of Water and Soil Resources. See Minnesota Statutes 40A.02
• Commissioner: means the commissioner of agriculture. See Minnesota Statutes 40A.02
• Contract: A legal written agreement that becomes binding when signed.
• controls: has the meaning given in section 394. See Minnesota Statutes 40A.02
• 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.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Department: means the Department of Agriculture. See Minnesota Statutes 40A.02
• Development: means the subdivision and partitioning of land or the construction of residences on land or the conversion to competing land uses. See Minnesota Statutes 40A.02
• District: means a soil and water conservation district. See Minnesota Statutes 40A.02
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• estimated market value: has the meaning given in section 273. See Minnesota Statutes 645.44
• 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.
• 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.
• Local government: means a county or municipality. See Minnesota Statutes 40A.02
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Municipality: means a statutory or home rule charter city or town. See Minnesota Statutes 40A.02
• 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.
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Minnesota Statutes 645.44
• preserve: means a preserve created under this chapter. See Minnesota Statutes 40A.02
• state: extends to and includes the District of Columbia and the several territories. See Minnesota Statutes 645.44
• Tax: means any fee, charge, exaction, or assessment imposed by a governmental entity on an individual, person, entity, transaction, good, service, or other thing. See Minnesota Statutes 645.44
• Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}
• Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.
• Violate: includes failure to comply with. See Minnesota Statutes 645.44