the municipal secretary desktop reference manual - Southwestern ...

invitation to bid-Notice and related information from a municipality requesting bids for
purchase of goods or services excluding professional services.
joint service agreement-An agreement, generally formal, whereby two or more jurisdictions
agree to sell or purchase a particular service for an established price.
leachate-Liquid that has percolated through solid waste of other mediums from which
dissolved or suspended materials have been extracted.
lease rental debt-Arrangement under which an authority or other government entity acquires
or constructs a facility for the purpose of leasing it to a local government unit, such as a
school district or municipality.
legislative proceedings-Action which is upheld by the courts, unless it was unauthorized,
unconstitutional, or the result of arbitrary or capricious action.
liability-A financial obligation that must be caused by negligence; an obligation one is
bound in law or justice to perform.
lien-A legal right to hold property or to have it sold or applied from the payment of a claim -
liens are used by governments to protect their unpaid taxes and other obligations.
lien letter-A formal certification by an authorized municipal official that there are no
outstanding liens against a particular property.
line item-A specific item or group of similar items defined by detail in a unique account in
the financial records. Revenue, expenditure and justifications are reviewed, anticipated and
appropriated at this level.
linen-The permanent copy of a subdivision or development plan which is permanently
recorded in a county Recorder of Deeds office; also referred to as mylar, referring to the
material normally utilized.
local improvement-A public improvement provided to a specific area which benefits that
area, usually paid for by special assessment of benefiting property owners.
loss payable-A clause in an insurance policy permitting payment for a loss to someone other
than the insured.
maintenance bond-A security which may be required and accepted by a governmental
agency to assure that necessary improvements will function as required for a specific period
of time.
malfeasance-Improperly performing a lawful act.
B-10