Terms Used In South Carolina Code > Title 59 > Chapter 133 - Francis Marion University

• Admissions fee: means the specially designated admissions fee or charge which may, in addition to other charges, be imposed by the trustees upon any person admitted to any event held at an athletic facility. See South Carolina Code 59-133-220
• Amortization: Paying off a loan by regular installments.
• Athletic department: means the athletic department of Francis Marion University. See South Carolina Code 59-133-220
• Athletic facilities: means all facilities designated by the trustees as intercollegiate athletic facilities now owned or which may be acquired by Francis Marion University. See South Carolina Code 59-133-220
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Authority: means the State Fiscal Accountability Authority. See South Carolina Code 59-133-220
• Bond reserve fund: means the special fund which may be established by the trustees pursuant to this article, which must be in the custody of the State Treasurer or its corporate trust designee, and which is primarily established for the purpose of providing a reserve with which to meet the payment of the principal of and interest on bonds in the event that payments otherwise required from the debt service fund are insufficient to meet the payment of the principal and interest as and when they become due and payable. See South Carolina Code 59-133-220
• bonds: means any note, bond, installment contract, or other evidence of indebtedness issued pursuant to this article. See South Carolina Code 59-133-220
• 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.
• Debt service fund: means the fund established by this article for the payment of principal of and interest on bonds, which must be in the custody of the State Treasurer or its corporate trust designee. See South Carolina Code 59-133-220
• 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
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• 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.
• Fiduciary: A trustee, executor, or administrator.
• 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.
• Francis Marion: means Francis Marion University. See South Carolina Code 59-133-220
• 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}
• Lien: A claim against real or personal property in satisfaction of a debt.
• Net revenues: means all revenues remaining after payment of the operating and maintenance expenses of the athletic department but before provision is made for depreciation, amortization, nonmandatory transfers, and interest expenses of the athletic department for a given fiscal year. See South Carolina Code 59-133-220
• 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.
• 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.
• Pollution: means the presence in the outdoor atmosphere or waters of the States of any one or more substances or pollutants, in quantities which are or may be potentially harmful or injurious to human health or welfare, animal or plant life, or property or which may unreasonably interfere with the enjoyment of life or property, including outdoor recreation. 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.
• Registrant: is a terminal facility required to possess a valid registration certificate to operate as a terminal facility. See South Carolina Code 48-43-510
• 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.
• Revenues: means all revenues or other income, including investment income, received by the athletic department from the operation of the athletic department and the athletic facilities, and all gifts, bequests, contributions, and donations received by the trustees or Francis Marion from any persons, including from any athletic booster organization, for use in connection with the operations of the athletic department, plus any other unrestricted revenues of the athletic department not otherwise pledged that may be made applicable by the trustees to the payment of the principal and interest of the bonds, including such revenues which may fall into the category of nonmandatory transfers as such term is used in generally accepted accounting principles, but excluding:
  
  (i) gifts, bequests, contributions, and donations restricted to a particular purpose inconsistent with their use for the payment of the principal, premium, or interest on any obligations of the trustees or Francis Marion;
  
  (ii) the proceeds of any borrowings;
  
  (iii) state appropriations of any sort; and
  
  (iv) revenues, income, receipts, and money received by the trustees or Francis Marion University for purposes other than those related to the athletic department. See South Carolina Code 59-133-220
• Special student fee: means the fee authorized by this article to be established by the trustees and which may be imposed upon persons in attendance at any academic session of Francis Marion University in order to provide funds to assist in the repayment of bonds. See South Carolina Code 59-133-220
• 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.
• Trustees: means the Board of Trustees of Francis Marion University or any successor body. See South Carolina Code 59-133-220
• Vessel: includes every description of watercraft or other contrivance used, or capable of being used, as a means of transportation on water, whether self-propelled or otherwise, and includes barges and tugs. See South Carolina Code 48-43-510