Savings programs available to individuals. These plans allow for a certain amount to be deposited each year. This money is not subject to income tax for that year or following years as long as it is not withdrawn. The money is taxed as withdrawn upon retirement, usually when the depositor is in a lower tax bracket. During the life of the account, the money may be put into various interest bearing investments. Securities dealers as well as banking institutions now offer IRA’s.

A clause in a policy of fire insurance requiring the insured to keep certain records (usually inventory) in a fire-proof safe.

A term of no legal meaning, being a contract which is considered strong (as iron) and hard to break.

See: French Curve.

That which cannot be revoked or recalled, such as certain trusts, contracts, and other legal relationships.

See: Option.

Watering, usually by means of pipes, to increase the fertility of ground in areas where additional moisture is needed for crop growth.

A local agency which builds and operates an irrigation system (supplies water to a designated area), and has authority to levy taxes for that purpose.

A ditch, channel, canal, etc., used to carry water to or through a planted area to bring water to the planted crops.

(1) Land surrounded by a body of water. (2) A space between oncoming lanes of a highway.

See: Spot Zoning.

A line on a map connecting areas which have approximately the same rainfall or thunderstorm activities.