Terms Used In South Carolina Code > Title 59 > Chapter 130 - The College of Charleston

• Academic and administrative buildings: means the real and personal property and equipment to be utilized by the School of the Arts, the School of Education, the School of Science and Mathematics, the Physical Education/Arena Complex, and the Student Center, whether or not the acquisition or construction of these facilities are financed from the proceeds of bonds issued pursuant to the provisions of this article. See South Carolina Code 59-130-420
• 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
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Board: means the board of trustees of the College of Charleston. See South Carolina Code 59-130-420
• Contract: A legal written agreement that becomes binding when signed.
• 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.
• Department: means the Department of Health and Environmental Control. See South Carolina Code 48-43-510
• Discharge: shall include , but not be limited to, any spilling, leaking, seeping, pouring, emitting, emptying, or dumping which occurs within the territorial limits of the State or outside of the territorial limits of the State and affects lands and waters within the territorial limits of the State. See South Carolina Code 48-43-510
• Equipment: means items with a useful life of at least fifteen years. See South Carolina Code 59-130-420
• 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.
• Ex officio: Literally, by virtue of one's office.
• Fees and revenues: means the special student fees and revenues derived or to be derived from the operation, sale, lease, or other disposition of the facilities. See South Carolina Code 59-130-420
• 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.
• 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}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien: A claim against real or personal property in satisfaction of a debt.
• 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.
• Oil: means crude petroleum oil and all other hydrocarbons, regardless of gravity, that are produced in liquid form by ordinary production methods, but does not include liquid hydrocarbons that were originally in a gaseous phase in the reservoir. See South Carolina Code 48-43-10
• Person: means any individual, partnership, joint venture, corporation; any group of the foregoing, organized or united for a business purpose; or any governmental entity. See South Carolina Code 48-43-510
• Personal property: All property that is not real property.
• Pollutants: shall include oil of any kind and in any form, gasoline, pesticides, ammonia, chlorine, and derivatives thereof. See South Carolina Code 48-43-510
• Quorum: The number of legislators that must be present to do business.
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• 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.
• Subpoena: A command to a witness to appear and give testimony.
• Testify: Answer questions in court.
• Trustee: A person or institution holding and administering property in trust.
• 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}
• University: means the College of Charleston. See South Carolina Code 59-130-420
• 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.