§ 21-29-1 Short title
§ 21-29-2 Definitions
§ 21-29-3 Student exchange program; terms of student loans;
§ 21-29-4 Commission [department] powers and duties; contracts
§ 21-29-5 Fund created; method of payment
§ 21-29-6 Cancellation
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Terms Used In New Mexico Statutes > Chapter 21 > Article 29 - Western Interstate Commission On Higher Education

  • 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
  • Contract: A legal written agreement that becomes binding when signed.
  • 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.
  • 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.
  • 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.