§ 119-EE Legislative findings and declaration
§ 119-FF Definitions
§ 119-GG Sustainable energy loan program
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Terms Used In New York Laws > General Municipal > Article 5-L - Municipal Sustainable Energy Loan Program

  • 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.
  • Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances:
    • You are late making a payment or commit some other default, triggering an increase to a penalty rate
    • The bank changes the terms of your account and you do not reject the change.
    • The rate expires (if the rate was fixed for only a certain period of time).
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.