New Mexico Statutes > Chapter 21 > Article 7 – University of New Mexico
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Terms Used In New Mexico Statutes > Chapter 21 > Article 7 - University of New Mexico
- Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
- 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.
- 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
- 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.
- Quorum: The number of legislators that must be present to do business.