Source: https://www.educatedinlaw.org/jean-keatings-prison-treatise/
Timestamp: 2019-04-23 12:02:27+00:00

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The courts are operating under Statute Law. A “Statute” is defined in Black’s Law Dictionary, Fourth Edition revised as a kind of bond or obligation of record, being an abbreviation for “statute merchant” or “statute staple”.
Statute-merchant = is defined as a security for a debt acknowledged to be due, entered into before the chief magistrate of some trading town, pursuant to the statute 13 Edward I. De Mercatoribus, by which not only the body of the debtor might be imprisoned, and his goods seized in satisfaction of the debt, but also his lands might be delivered to the creditor till out of the rents and profits of them the debt be satisfied. This was also called a Pocket Judgment.
Statute Staple = A 1353 statute establishing procedure for settling disputes among merchants who traded in staple towns. The statute helped merchants receive swift judgment for debt. Cf. STATUTE MERCHANT. 2. A bond for commercial debt. A statute staple gave the lender a possessory right in the land of a debtor who failed to repay a loan. See STAPLE.
“A popular form of security after 1285 . . . was the . . . ‘statute staple’ – whereby the borrower could by means of a registered contract charge his land and goods without giving up possession; if he failed to pay, the lender became a tenant of the land until satisfied . . . the borrower under a statue or recognizance remained in possession of his land, and it later became a common practice under the common-law forms of mortgage likewise to allow the mortgagor to remain in possession as a tenant at will or at sufferance of the mortgage.” J.H. Baker, An introduction to English Legal History 354 (3d edition 1990).
Recognizance = A bond or obligation of record binding a person to some act as to appear in court and subject to forfeit money if obligation is not fulfilled. Fifa = Fifa, short for the Latin phrase fieri facias (“let it be made . . .”) was a court (execution) to the sheriff to levy on ([a] Take of) the property of a debtor in order to satisfy a judgment (see judgment and execution dockets, above). The sheriff might typically keep track of fifas in a Sheriff’s Fifa Docket Book. Usually written on a fill-in-the blank form, a fifa names the parties to the court judgment and the value of property to be taken to satisfy the judgment. On the back, the sheriff or his deputies annotate their actions in carrying out the order. The fifas were to be returned to the court which issued them and the actions annotated on the Judgment Docket. Theoretically, the docket books should contain everything that was noted on the fifas.
I have been doing more research on our prison system via the internet and have found out some interesting things, regarding what is really going on in the courtroom. The court is looking for an acceptance and acceptor under 3-410 of the U.C.C. as the Principal has the primary obligation to pay or discharge any instrument presented for acceptance. Since they are presenting a Bill of Exchange [indictment] for acceptance. This is called an acceptance for honor, which involves a negotiable instrument especially a bill of exchange [indictment] that has been accepted for payment. The complaint, information, or indictment is a three party Draft, Commercial paper, or Bill of Exchange under Article 3 of the U.C.C. The Grand Jury Foreman is the Drawer or Maker of the Indictment by his signature, the Defendant/ Debtor or Straw man is the Drawee and the State is the Payee and the live man is the Payor. What they are doing in the courtroom is all commercial, this is in conformity to Title 27 CFR.
in the case of any drawer, the acceptor of a draft payable at a bank or the maker of a note payable at a bank, presentment for payment is necessary, but failure to make presentment discharges such drawer, acceptor or maker only as stated in section 3-502 (1)(B).
If you don’t accept the charge or presentment you are in dishonor for non acceptance under 3-505 of the U.C.C. (c) and 3-501 (2) (a), (b). Acceptance is the drawer’s signed engagement to honor the draft as presented. It must be written on the draft, and may consist of his signature alone. It becomes operative when completed by delivery or notification 3-410 of the U.C.C.
Corporations work on the Fiscal Accounting Cycle because they operate using commercial debt, we as owner principal’s work on the General Calendar Accounting Year or Cycle. New York City has a $ 6.6 billion dollar deficit, this deficit represents unredeemed debt on the credit side of the accrual accounting system and cannot be executed to the debit side of accrual accounting ledger, except through the principal’s exemption. New York has therefore put its bond underwriting business up for bid. This means that New York will issue $ 6.6 billion in bonds and pay underwriters over $30 million in fees in the next fiscal year alone. Lehman Brothers Bank will underwrite New York’s $ 6.6 billion dollar deficit. An underwriter is an Insurer or one who buys stock from the issuer with an intent to resell it to the public or an entity or person, especially an investment banker, who guarantees the sale of newly issued securities by purchasing all or part of the shares for resale to the public.
The Corrections Corporation of America owns most of your prison systems and sells its stock and shares on the New York Stock Exchange, the major stock holder is the Paine Webber Group. They have a Dunn Bradstreet rating and are headquartered in Nashville, Tennessee at 10 Burton Hills Blvd and can be reached at 1-800-624-2931. Their Ticker Symbol for their stock is CXW_pb on the NYSE and CXW under business services on the NYSE. In Berlin Germany there ticker symbol is CXW.BE and CXW.DE in Frankfurt, Germany.
In April of 2000, company audits expressed doubt about the company’s solvency. Shares hit a new 52 week low of 2.12 each, down from the 52 week high of $22.37. In his book the Perpetual Prisoner Machine [see resources], Joel Dyer notes that outside one CCA facility, there is a placard with the words “Yesterday’s closing stock price”. Imagine the legitimacy and confidence that are lost by people driving by seeing the stock price plummet, or even seeing “Yesterday’s Closing Stock Price: $2.12”.
Shareholder lawsuits still must be settled on satisfactory terms for the deal to be finalized, but the other requirement was met when Lehman Brothers refinanced PZN’s $ 1 billion credit line. At the close of business 26 April, the price closed below $3 a share again after briefly hitting $3.50 the previous week. Prices through the first half of may have generally been below $3 a share. On June 7, the stock hit a new low of $2.00 and talks started on financial restructuring to remedy default on credit line. During the next week, stock rose $1 a share on news that their $1 billion credit line is restructured and they receive a $780,000,000 federal contract.
Instrumental in pulling off this contract was former Federal Bureau of Prisons head J. Michael Quinlan, who is now on the Board of PZN. The Federal Contract, with guaranteed 95% occupancy rate, provided financial resources to reject a restructuring offer from Pacific Life Insurance, but a Legg-Mason stock analyst declared PZN an UNDERPERFORM. Quinlan is now one of the top executives in the company.
Because the stock has lost 75% of its value, two of the executives are leaving, but not without a $1.3 million severance. Of course, there’s also been millions in attorney fees, class action lawsuits from shareholders about the merger and management fees for restructuring. Share prices bottomed out at $0.18 -yes, 18 cents; that really inspires confidence in the justice system. They instituted a 10 for 1 split, which does not change the underlying financials of the company, but prevented them from being removed from the New York Stock Exchange.
Realty Trust a shareholder based proposal to invest in and restructure Prison Realty Trust (NYSE:PZN). The shareholder proposal would involve additional value, less dilution and potentially higher returns for existing shareholders of Prison Realty Trust, than the agreement Prison Realty Trust currently has with Fortress Investment Group LLC, the Blackstone Group and Bank of America.
Fortress on November 15, 2004 merged with Stelmar Shipping Ltd. Stelmar is an international provider of petroleum products and crude oil transportation services and is Headquartered in Athens, Greece. Stelmar operates one of the world’s largest and most modern Handymax and Panamax tanker fleets with an average age of approximately six years. Stelmar’s 40 vessel fleet consists of 24 Handymax, 13 Panamax and three Aframax tankers.
The Blackstone group is a private investment banking firm and describes itself as a leading global investment and advisory firm. The Blackstone Group was founded in 1985 by a group of four, including Peter G. Peterson and Stephen A. Schwarzman.
Blackstone has developed strategic alliances with some of the largest and most sophisticated international financial institutions. In addition to AIG, they include Kissinger Associates, Roland Berger Partner, GmbH, and Scandinaviska Enskilda Banken,” the website states  (http://www.blackstone.com/company/bst_group.html).
The company’s Blackstone Alternative Asset Management unit handles $1 billion in hedge funds for pension giant CalPERS.
In December 2001, the Blackstone Group was appointed as Enron’s principal financial advisor with regard to financial restructuring.
The Blackstone Group is also handling the restructuring of Global Crossing. The Blackstone Group is located at 345 Park Avenue New York, NY 10154 USA Phone; +1 212 583 5000 Fax: +1 212 583 5712. London location is the Blackstone Group International Limited, Stirling Square, 5-7 Carlton Gardens, 4th Floor London, SW1Y 5AD U.K. Phone: +44 20 7451 4000 Fax: +44 20 7451 4038.
In October 2004, Kissinger Associates and APCO Worldwide announced that they had formed “a strategic alliance”. APCO Worldwide is located at 1615 L St. N.W., # 900, Washington, D.C. phone # 1-202-778-1000. APCO worldwide was started by Margery Kraus in 1984 and she is active on the board of Group Menatep (chair, Advisory Board), the largest Russian holding company; Teuza Fund, a Fairchild technology venture (Israel). Group MENATEP is an international diversified holding company and long-term Russian strategic and portfolio investor in international financial and capital markets.
Kissinger’s real name is Henry Stern, who started and trained the terrorist group the Stern Gang in Israel, which is now called the Mossad. He trains global terrorist groups for the FBI, CIA, and the military, which are the groups running OUR government at every facet of its existence.
Pacific Life, a long term investor, beneficially owns approximately 4.5 million shares of Prison Realty Trust. The shareholder proposal by Pacific Life provides for additional value in the form of Series C Preferred Stock (approximately $2.20 per share) to be distributed to existing shareholders, and potentially higher future returns, along with generating between $45 to $123 million in additional cash flow to Prison Realty Trust. Pacific Life was founded in 1868 and provides life and health insurance products, individual annuities and group employee benefits, and offers to individuals, businesses and pension plans a variety of investment products and services. The pacific life family of companies manages $300 billion in assets, making it one of the largest financial institutions in America, and currently counts 65 of the 100 largest U.S. companies as clients. Pacific Life Insurance Company is a member of the fortune 500 group.
The origins of the real estate investment trust, or REIT (pronounced “reet”) date back to the 1880s. At that time, investors could avoid double taxation because trusts were not taxed at the corporate level if income was distributed to beneficiaries. This tax advantage, however, was reversed in the 1930s, and all passive investments were taxed first at the corporate level and later taxed as a part of individual incomes. Unlike stock and bond investment companies, REIT’s were unable to secure legislation to overturn the 1930 decision until 30 years later. Following WWII, the demand for real estate funds skyrocketed and President Eisenhower signed the 1960 real estate investment trust tax provision which reestablished the special tax considerations qualifying REIT’s as pass through entities (thus eliminating the double taxation). This law has remained relatively intact with minor improvements since its inception.
REIT investment increased throughout the 1980s with the elimination of certain real estate tax shelters. Investments in real estate provided investors with income and appreciation. The Tax Reform Act of 1986 allowed REIT’s to manage their properties directly, and in 1993 REIT investment barriers to pension funds were eliminated. This trend of reforms continued to increase the interest in and value of REIT investment.
Today, there are over 300 publicly traded REIT’s operating in the United States their assets total over $300 billion. Approximately two-thirds of these trade on the national stock exchanges.
Equity REITS invest and own properties (thus responsible for the equity or value of their real estate assets). Their revenues come principally from their property rents.
Individual REITs are able to distinguish themselves by specialization. REITs may focus their investments geographically (by region, state, or metropolitan area), or in property types (such as retail properties, industrial facilities, office buildings, apartments or healthcare facilities). Certain REITs choose a broader focus, investing in a variety of types of property and mortgage assets across a wider spectrum of locations.
Federal Prison Industries, also known by its trade name UNICOR, founded in 1934, is operated by the Department of Justice (DOJ) and is a wholly owned government corporation which employs 25 percent of the Federal Bureau of Prisons’ sentenced inmate population. Unicor is a supplier to the military during the current war in Iraq.
Disinfopedia is an encyclopedia of people, issues and groups shaping the public agenda. It is a project of the Center for Media Democracy; email bob AT Disinfopedia.
Also contributing to the new financial architecture is the rise of multi-national and transnational corporations, mergers and acquisitions, country privatization of its assets such as railroads, agriculture, banks, airlines, telephone companies, etc. Furthermore, the rise of public-private partnerships which is a merger between government and business, also known as fascism, has contributed to a changed financial landscape. In addition, there is the move towards a global stock exchange, the establishment of a World’s Customs Organization and “open skies” between countries.
By legal definition, all of your Federal and State “Statutes” are Bonds or Obligations of Record and are represented in the courtroom by the Recognizance Bond, which is a Bond of Record or Obligation for the payment of debt.
FMR [Fidelity Management Research Corporation 3, 084,024 shares at a value of $109,791,254 dollars.
Legg Mason Inc. 1,235,563 shares valued at $43,986,042 dollars.
Barclays Bank Pic 1, 041,671 shares valued at $37,083,487.
There are seventeen more corporations owning various amounts of shares at varying dollar values. These can be viewed by going to http://finance.yahoo.com/q/mh?s=CXW.
As you can see by the above information, this system permeates every fabric of our society. This treatise represents about 40 hours of brainstorming. Currently global terrorism is being funded by the prison system and the State’s Retirement Fund go to www.DivestTerror.Org this is a 115 page treatise on the Terrorism Investments of the 50 States.
Favor of the United States SF 275 and a list of Admitted Reinsurers, Pools and Associations, and Lloyds’ Syndicates, you will also see a list of the Department of the Treasury’s Listing of Approved Sureties [Department Circular 570].
U.S. District Courts are buying up the State Court default judgments, when you refuse to pay or dishonor the debt. Contractors and Insurance Companies are bidding on the default judgments with a Bid Bond, then a Reinsurance Company comes in and purchases a Performance Bond as a surety for the Bid Bond. The Performance Bond is then under written by a Payment Bond, this is usually done by an investment company or investment banker. When these Bonds are pooled they become mortgage backed securities or surety bonds. They are then put on the bond market through TBA [The Bond Association]. These bonds are also sold as investment securities through brokerage houses or insurance companies. Securicor is one of your biggest international securities companies and is located in South Africa and have acquired Gray Security Services. Securicor was formed from the merger between Securicor pic and Group 4 Falk, which was completed in July 2004. Securicor operates in 50 different countries.
The laying off of risk by means of reinsurance traditionally serves three basic purposes. First, reinsurance can increase the capacity of the insurer to accept risk. The insurer may be enabled to take on larger individual risks, or a larger number of smaller risks, or a combination of both . Secondly, reinsurance can promote financial stability by ameliorating [improving] the adverse consequences of an unexpected accumulation of losses or of a single catastrophic losses, because these will, at least in part, be absorbed by reinsurers. Thirdly, reinsurance can strengthen the solvency of an insurer from the point of view of any regulations under which the insurer must operate which provide for a minimum ‘solvency margin’, generally expressed as a ratio of net premium income over capital and free reserves. P.T. O’Neill J.W. Woloniecki, the Law of Reinsurance in England and Bermuda 4 .
All of the performance and payment bonds are regulated and controlled by FAR [Federal Acquisition Regulations] which is under [48 CFR] 28.202-1 and 53.228(h). These bonds are being used in cases where it is desired to cover the excess of a Direct Writing Company’s underwriting limitation by reinsurance instead of co-insurers on Miller act performance bonds running to the United States. These FAR regulations come in two volumes, volume 1 is approximately 1,326 pages volume 2 is 823 pages long. These should be consulted and read before these bonds are used.
The Miller Act is found in Title 40 U.S.C.A. sections 270 a – 270d-1 and is federal law requiring the posting of performance and payment bonds before an award is made for a contract for construction, alteration, or repair of a public work or building. The surety company issuing these bonds must be listed as a qualified surety on the Treasury List, which the U.S. Department of the Treasury issues each year.
(43)-(44). The regulations in subchapter B are promulgated by the Assistant Secretary (Domestic Finance) pursuant to a delegation of Authority from the Secretary of The Treasury. The office responsible for the regulations is the Office of the Commissioner, Bureau of the Public Debt.
Payment Bonds fall in the category of surety bonds under these provisions. Under section 9303 Government Obligations may be substituted for Surety Bonds. Government Obligations are defined as public debt obligations of the United States Government and an obligation whose principal and interest is unconditionally guaranteed by the Government.
The bid, performance and payment bonds in addition to being sold on the commodities and securities exchange as pooled mortgaged backed securities and cleared for settlement through the FICC [Fixed Income Clearing Corporation], who is the holder until the Bonds are sold, are also being pledged as collateral for funds and a line of credit at the discount window or the open-market trading desk of Freddie Mac, Fannie Mae, Sally Mae, Ginnie Mae, or your local Federal Reserve Bank. All discount Window advances must be secured by collateral acceptable to the Reserve Bank. The following types of assets are most commonly pledged to secure discount window advances.
Obligations of states or political subdivisions of the U.S.
Charles Townshend who passed The Townshend Act in 1767 and who was the Lord High Admiral on the British Board of Trade caused the American Revolution due to the high Tariffs, Duties, Imposts and Excises imposed on the Colonists on imports from London, England.
1-216-274-1606 and Holly Pattison of National City Bank is also a transfer agent. Her Telephone # 1-216-222-2552. I spent 30 minutes on the phone with Robert Duke, who is the director of underwriting for the Surety Association of America under circular 570 for the Department of the Treasury whose telephone # is 1-202-463-0600. His address is 1101 Connecticut Avenue, N.W. Suite 800, Washington, D.C. 20036.
I went through circular 570 of the Department of Treasury and called several of the admitted reinsurance companies through their underwriting department and found out they knew absolutely nothing about reinsurance relative to bid, performance and payment bonds. This fact leads me to believe that in addition to being a Repository Bank with prisoners being the assets, collateral, or securities for the bid, performance and payment bonds, the prisoners are the actual reinsurance or surety and their sentence represents the valued and marketable risk involved with the materials, supplies and cost factors involved with the guaranteed performance, and payment relative to the bonds. This is termed assumed risk in insurance and represents a present peril, hazard, or danger of loss, due to their dishonor and default judgment in court. That is why there is a penal sum or clause attached to each bond for non performance and payment of the bonds.
Since everybody on the public or debt side is bankrupt or insolvent how can they assume a liability or risk? They can’t that is why they have to look to the exempt priority private asset side of the accounting ledger to assume reinsurance or risk. You can’t pay a debt or assume a risk with a debt instrument. This can only be done with Asset Collateral through goods [prisoners] under mercantile civil and commercial law.
When a corporation wants to build or perform construction, he receives bids from a contractor, if the contractor is awarded the bid, the corporation who is the owner and obligee, then requires that the contractor submit a bid bond, the contractor then becomes the principal obligor. He is then required to get a reinsurance company to act as surety on the bid bond, and then a performance bond is issued to guarantee cost of material and supplies. The reinsurance company who is acting as surety for the bid bond also acts as the underwriter through a payment bond. The bid bond is a three party obligation with the obligee as the owner of the bid, performance and payment bonds.
I also believe that the Bid Bonds are being used to purchase commercial items [commercial paper] such as court judgments this is done through GSA SF form 1449 contract form and is a rated order under DPAS [Defense Priorities and Allocations System] see 15CFR 700 this is under the National Security Industrial Base Regulations. This is all under the Executive Branch under the President and Military.
HOLDER = The owner of a security. SEE BONDHOLDER.
TRANSFER AGENT = The person or entity that performs the transfer function for an issue of registered municipal securities. This person or entity may be the issuer, an official of the issuer or a third party engaged by the issuer to act as its agent. The trustee under a trust indenture often also acts as transfer agent. Compare: REGISTRAR. See: REGISTEred BOND; TRANSFER; TRUSTEE.
REGISTRAR = The person or entity responsible for maintaining records on behalf of the issuer that identify the owners of a registered bond issue. The trustee under a trust indenture often also acts as registrar. Compare: TRANSFER AGENT. See: BOND REGISTER; TRUSTEE.
BOND REGISTER = A record, kept by a transfer agent or registrar on behalf of the issuer, that lists the names and addresses of the holders of the registered bonds. See: BONDHOLDER; REGISTEred BOND; REGISTRAR; TRANSFER AGENT.
ISSUER = A state, political subdivision, municipality, or governmental agency or authority that raises funds through the sale of municipal securities.
UNDERWRITER = A Broker – dealer that purchases a new issue of municipal securities from the issuer for resale in a primary offering. The underwriter may acquire the securities either by negotiation with the issuer or by award on the basis of competitive bidding. Compare: PLACEMENT AGENT. See: COMPETITIVE SALE; NEGOTIATED SALE; PRIMARY DISTRIBUTOR; PRIMARY OFFERING; SUNDICATE.
SETTLEMENT = Delivery of and payment for a security. Compare: CLEARANCE. See: DELIVERY DATE; GOOD DELIVERY.
CLEARANCE = The process of delivering securities from a seller to a buyer, either directly or through their agents. Compare: SETTLEMENT.
BOND PROCEEDS = The money paid to the issuer by the purchaser or underwriter of a new issue of municipal securities. These moneys are used to finance the project or other purpose for which the securities were issued and to pay certain costs of issuance as may provided in the bond contract or bond purchase agreement. See: NET PROCEEDS.
BOND PURCHASE AGREEMENT [BPA] – The contract between the underwriter and the issuer setting forth the final terms, prices and conditions upon which the underwriter purchases a new issue of municipal securities in a negotiated sale. A conduit borrower also is frequently a party to the bond purchase agreement in a conduit financing. The bond purchase agreement is sometimes referred to as the “purchase agreement” or, less commonly, the “underwriting agreement.” See: NEGOTIATED SALE; UNDERWRITING AGREEMENT; WRITTEN AWARD.
CONDUIT BORROWER = A borrower of bond proceeds in a conduit financing. See: CONDUIT FINANCING; OBLIGOR.
CONDUIT FINANCING = The issuance of municipal securities by a governmental unit (referred to as the “conduit issuer” to finance a project to be used primarily by a third party, usually a for-profit entity engaged in private enterprise or a 501 (c) (3) organization (referred to as the “conduit borrower”). The security for this type of issue is customarily the credit of the conduit borrower or pledged revenues from the project financed, rather than the credit of the conduit issuer. Such securities do not constitute general obligations of the conduit issuer because the conduit borrower is liable for generating the pledged revenues. Industrial development bonds, multifamily housing revenue bonds and qualified 501 (c) (3) bonds are common type’s of conduit financings. See: HOUSING REVENUE BOND- Multi-family housing revenue bonds; INDUSTRIAL DEVELOPMENT; PRIVATE ACTIVITY BOND.
AWARD = The official acceptance by the issuer of a bid or offer to purchase a new issue of municipal securities by an underwriter. The date of the award is generally considered the “sale date” of an issue. See: BID; BOND PURCHASE AGREEMENT; WRITTEN AWARD. Compare: VERBAL AWARD.
BENEFICIAL OWNER = The person to whom the benefits of ownership of given securities accrue, even though the securities might be held by, or in the name of, another person or held in an account over which another person has investment discretion. For example, a securities firm might hold securities in “street name” in its vaults or at a securities depository, with the beneficial owners of the securities only designated on the firm’s records. Compare: BONDHOLDER.
DEPOSITORY = A registered clearing agency that provides immobilization, safekeeping and book-entry clearance and settlement services to its participants. Compare: CLEARING CORPORATION. See: REGISTEred CLEARING AGENCY.
BOOK-ENTRY ONLY (BEO) or BOOK-ENTRY SECURITY = A security that is not available to top purchasers in physical form. Such a security may be held either as a computer entry on the records of a central holder (as is the case with certain U.S. Government securities) or in the form of a single, global certificate. Ownership interests of, and transfers of ownership by, investors are reflected solely by appropriate books and record entries. Most municipal securities issued in recent years have been in book-entry only form. Compare: CERTIFICATED SECURITY; IMMOBLIZED SECURITY. See: GLOBAL CERTIFICATE.
GLOBAL CERTIFICATE = A single certificate sometimes referred to as a “jumbo certificate”, representing an entire maturity of an issue of securities. Such certificates are often used in book-entry systems. The issuer issues a global certificate that is then lodged in the facilities of a depository or other book-entry agent and kept safely by the agent until maturity. The securities are available to beneficial owners only in book-entry form, and no certificates can be obtained. Compare: IMMOBLIZED SECURITY. See: BOOK-ENTRY ONLY.
IMMOBILIZED SECURITY = A physical security that is held in a central depository for the account of its beneficial owner but that may be withdrawn from the depository in physical form. Immobilized securities may be transferred when sold by entries on the records of the depository or by withdrawal of actual certificates. Compare: BOOK-ENTRY ONLY; GLOBAL CERTIFICATE.
501(c)(3) ORGANIZATION = An organization recognized by the Internal Revenue Service as a not-for-profit organization. A 501 (c) (3) organization can borrow funds to finance projects on a tax-exempt basis through a conduit issuer. Examples include not-for-profit colleges and universities, hospitals, museums and retirement communities. See: CONDUIT BORROWER; PRIVATE ACTIVITY – Qualified 501 (c) (3) bonds.
federal income tax purposes. Issuers of municipal securities are exempt from most federal securities laws. Compare: TAXABLE MUNICIPAL SECURITY.
REGISTEred CLEARING AGENCY = An organization, registered with the Securities andExchange Commission pursuant to section 17 A of the Securities Exchange Act of 1934, that provides specialized systems for the confirmation, comparison, clearance and settlement of securities transactions. See: NATIONAL SECURITIES CLEARING CORPORATION.
NATIONAL SECURITIES CLEARING CORPORATION (NSCC) = A clearing corporation. See: CLEARING CORPORATION; DEPOSITORY TRUST AND CLEARING CORPORATION.
CLEARING CORPORATION = A registered clearing agency that provides specializedcomparison, clearance and settlement services for its members. A clearing corporation typically offers services such as automated comparison systems and transaction netting systems. Compare: DEPOSITORY. See: NATIONAL SECURITIES CLEARING CORPORATION; REGISTEred CLEARING AGENCY.
merger of Depository Trust and National Securities Clearing Corporation. DTCC facilitates the clearance and settlement of securities transactions.
CONDUIT ISSUER = An issuer of municipal securities in a conduit financing. See: AUTHORITY; CONDUIT FINANCING.
ENTERPRISE ZONE BOND; HOUSING REVENUE BOND- Multiple-family housing revenue bonds.
Qualified 501(c)(3) bonds = Private activity bonds issued to finance a facility owned and utilized by a 501 (c) (3) organization. Qualified 501 (c) (3) bonds are not subject to the federal alternative minimum tax.
Qualified mortgage bonds = Private activity bonds issued to fund mortgages to finance owneroccupied residential property. Qualified mortgage bonds are often referred to as single family mortgage revenue bonds. See: HOUSING REVENUE BOND – Single family mortgage revenue bonds.
Qualified redevelopment bonds = Private activity bonds issued to finance certain acquisition, clearance, rehabilitation and relocation activities for redevelopment purposes by a governmental entity in designated blighted areas. Qualified redevelopment bonds are payable from general taxes or from tax increment revenues. See: TAX INCREMENT BOND.
Qualified small issue bonds = Private Activity bonds issued to finance manufacturing facilities.
taking into account certain prior issues, or an amount up to $10 million, taking into account certain capital expenditures incurred during the three years prior and the three years following the issuance of such bonds.
Qualified student loan bonds = Private activity bonds issued to finance student loans for attendance at higher education institutions.
Qualified veterans’ mortgage bonds = Private activity bonds that are general obligations of a state issued to fund mortgage loans to finance owner-occupied residential property for veterans. The ability of states to issue new and refunding qualified veterans’ mortgage bonds on a tax-exempt basis is limited.
In the Open Market Trading Desk in the Investing Trading Glossary, A bill of exchange is defined as a “General Term for a document demanding payment”. This says it all if you have wisdom and understanding, sometimes the obvious escapes everybody.
The word Bill is an alteration of the Latin word Bulla in its mediaeval sense. In classical Latin bulla was “a bubble, a boss, a stud, an amulet for the neck”; whence in mediaeval Latin “a seal” especially the seal appended to a charter etc.; thence, transferred sense, “a document furnished with a seal”, e.g. a charter, a papal bull, and, by extension, any official or formal document, “a bill, schedule, memorandum, note, paper”. It was in these later senses that bulla became in England billa, bille. Being a word of common use, bulla was probably pronounced with u, passing into English y, i; though no direct evidence of this has been found. So the Oxford English Dictionary. This explanation is not convincing, nor would it be even if ‘bill’ and ‘bull’ had originally conveyed the same or similar meanings. At least up to the end of the fourteenth century the two words almost always carried meanings that were respectively inconsistent with each other. A ‘bull’ was a sealed document.
Under Title 18 sections 513 (A) the term security as defined in the Electronic Fund transfer Act under 916 (c) has been amended and moved to Title 15 section 78 (c) subsection 10, where it says that any currency, note, draft, bill of exchange, or banker’s acceptance which has a maturity at the time of issuance of not exceeding nine months, exclusive of days of grace, or any renewal thereof the maturity of which is likewise limited is not included in this definition of a security.
Acceptance 4. Black’s Law Dictionary Eighth Edition a negotiable instrument, especially a bill of exchange, that has been accepted for payment.
The transferee acquires a security interest or other lien in the instrument other than a lien obtained by judicial proceeding.
The instrument is issued or transferred in exchange for the incurring of an irrevocable obligation to a third party by the person taking the instrument.
(b) “Consideration” means any consideration sufficient to support a simple contract. The drawer or maker of an instrument has a defense if the instrument is issued without consideration. If an instrument is issued for a promise of performance, the issuer has a defense to the extent performance of the promise is due and the promise has not been performed. If an instrument is issued for value as stated in subsection (a), the instrument is also issued for consideration.
In Clearfield Trust Co. v. United States, 318 U.S. 363 (1943), the court held that if the United States is a party to an instrument, its rights and duties are governed by federal common law in the absence of a specific federal statute or regulation. In United States v. Kimbell Foods, Inc., 440 U.S. 715 (1979), the court stated a three prong test to ascertain whether the federal common law rule should follow the state rule. In most instances courts under the Kimbell test have shown a willingness to adopt the U.C.C. rules in formulating federal common law on the subject. In Kimbell the Court adopted the priorities rules of Article 9.
In 1989 the United Nations Commission on International Trade Law [UNICTRAL] completed a convention on International Bills of Exchange and International Promissory Notes. If the United States becomes a party to this convention, the convention will preempt state law with respect to international bills of exchange and notes governed by the Convention. Thus, an international bill of exchange or promissory note that meets the definition of instrument in section 3-104 will not be governed by Article 3 if it is governed by the Convention. That Convention applies only to bills and notes that indicate on their face that they involve cross-border transactions. It does not apply at all to checks. Convention Articles 1(3), 2(1), 2(2). Moreover, because it applies only if the bill or note specifically calls for application of the Convention, Convention Article 1 there is little chance that the Convention will apply accidentally to a transaction that the parties intended to be governed by U.C.C. §3-104.Negotiable Instrument.
a waiver of the benefit of any law intended for the advantage or protection of an obligor.
“Instrument” means a negotiable instrument.
An order that meets all of the requirements of subsection (a), except paragraph (1), and otherwise falls within the definition of a “check” in subsection (f) is a negotiable instrument and a check.
A promise or order other than a check is not an instrument if, at the time it is issued or first comes into possession of a holder, it contains a conspicuous statement, however expressed, to the effect that the promise or order is not negotiable or is not and instrument governed by this Article.
An instrument is a “note” if it is a promise and is a “draft” if it is an order. If an instrument falls within the definition of both “note” and “draft,” a person entitled to enforce the instrument may treat it as either.
“Cashier’s check” (i) means a draft with respect to which the drawer and drawee are the same bank or branches of the same bank.
“Teller’s check” means a draft drawn by a bank (i) on another bank, or through a bank.
“Traveler’s check” means an instrument that (i) is payable on demand, (ii) is drawn on or payable at or through a bank, (iii) is designated by the term “traveler’s check” or by a substantially similar term, and (iv) requires as a condition to payment, a countersignature by a person whose specimen signature appears on the instrument.
“Certificate of deposit” means an instrument containing an acknowledgment by a bank that a sum of money has been received by the bank and a promise by the bank to repay the sum of money. A certificate of deposit is a note of the bank.
The definitions in Regulation CC section 229.2 of the terms “checks,” “cashier’s check”, “Teller’s check”, and “Travelers check” are different from the definitions of those terms in Article 3.
Certificates of deposit are treated in former Article 3 as a separate type of instrument. In revised Article 3, Section 3-104 (j) treats them as notes.
There are some differences between the requirements of Article 3 and the requirements included in Article 3 of the Convention on International Bills of Exchange and International Promissory Notes.
Most obviously the Convention does not include the limitation on extraneous undertakings set forth in Section 3-104 (a)(3), and does not permit documents payable to bearer that would be permissible under Section 3-104 (a)(1) and Section 3-109. See Convention Article 3. In most respects, however, the requirements of 3-104 and Article 3 of the Convention are quite similar.
which are secured at the time of acceptance by a warehouse receipt or other document conveying or securing title covering readily marketable staples.
Ratio limit of bills to unimpaired capital stock and surplus Except as provided in subsection (c) of this section, no institution shall except such bills, or be obligated for a participation share in such bills, in an amount equal at any time in the aggregate to more than 150 per centum of its paid up and unimpaired capital stock and surplus or, in the case of a United States Branch or agency of a foreign bank, its dollar equivalent as determined by the board under subsection (h) of this section.
Authorization for special ratio limit; foreign banks The Board, under such conditions as it may prescribe, may authorize, by regulation or order, any institution to accept such bills, in an amount not exceeding ay any time in the aggregate 200 per centum of its paid up and unimpaired capital stock and surplus or, in the case of a United States Branch or agency of a foreign bank, its dollar equivalent as determined by the Board under subsection (h) of this section.
Ratio limit for domestic transactions Notwithstanding subsections (b) and (c) of this section, with respect to any institution, the aggregate acceptances, including obligations for a participation share in such acceptances, growing out of domestic transactions shall not exceed 50 per centum of the aggregate of all acceptances, including obligations for a participation share in such acceptances, authorized for such institution under this section.
Ratio limit for single entity; foreign banks security no institution shall accept such bills, or be obligated for a participation share in such bills, whether in a foreign or domestic transaction, for any one person, partnership, corporation, association or other entity in an amount equal at any time in the aggregate to more than 10 per centum of it’s paid up and unimpaired capital stock and surplus, or, in the case of a United States branch or agency of a foreign bank, its dollar equivalent as determined by the board under subsection (h) of this section, unless the institution is secured either by attached documents or by some other actual security growing out of the same transaction as the acceptance.
Definitions by board in order to carry out the purposes of this section, the board may define any of the terms used in this section, and, with respect to institutions which do not have capital or capital stock, the board shall define an equivalent measure to which the limitations contained in this section shall apply.
Dollar equivalent of foreign bank paid-up capital stock and surplus.
Any limitation or restriction in this section based on paid up and unimpaired capital stock and surplus of an institution shall be deemed to refer, with respect to a United States branch or agency of a foreign bank, to the dollar equivalent of the paid-up capital stock and surplus of the foreign bank, as determined by the board, and if the foreign bank has more than United States Branch or agency, the business transacted by all such branches and agencies shall be aggregated in determining compliance with the limitation or restriction.
Karmic and involves the laws of Karma, which in physics involves the Laws of Cause and Effect. This is also the occult or hidden meaning of the scriptures in regard to salvation and redemption.
Another excellent case is THE CARTONA 297 Federal Reporter 1st series pg. 827. This case says you have to have a interest or a lien before you can intervene with a claim in Admiralty under rule 24 of the F.R.C.P.
In the United States everything started with the Civil War and the Insurrection and Rebellion Acts of August 6, 1861 and July 17, 1862, which are still current law today under title 50 sections 212, 213, we have been under a military, provisional, occupational government since 1861. This is why the United States has been divided into Internal Revenue Districts under title 26 section 7621 by the president of the United States and is what the zip code designates.
This is why in title 26 section 6305 says “upon receiving a certification from the Secretary of Health and Human Services, under section 452 (b) of the Social Security Act with respect to any individual, the Secretary shall assess and collect the amount certified by the Secretary of Health and Human Services, in the same manner, with the same powers, and (except as provided in this section) subject to the same limitations as if such amount were a tax imposed by subtitle C.” The inference here is that the Secretary is collecting an insurance premium as though it were a tax, why? Because there is no money everything is insurance and you can’t pay a tax with a debt instrument. We as Principals own, hold, and control both sides of the accounting ledger; the private, debit or asset side and the public, credit or debt side.
An offender is defined or called a debtor in admiralty maritime law, read the case of CONTINENTAL ILLINOIS NATIONAL BANK TRUST CO. v. CHICAGO, ROCK ISLAND PACIFIC RY. CO. 294 U.S. 648. Page 668 of this case a debtor is referred to has an offender.
All of your state criminal statutes have this term in their statutes or codes. In Ohio it is in title 29 section 2951.07. “If the offender [debtor] under community control ABSCONDS or otherwise leaves the jurisdiction of the court without permission from the probation officer, the probation agency, or the court to do so, or if the offender [debtor] is confined in any institution for the commission of any offense, the period of community control ceases to run until the time that the offender [debtor] is brought before the court for its further action.” An absconding debtor is defined in Black’s Law Dictionary 8th edition as a “A debtor who flees from creditors to avoid having to pay a debt.
“To depart secretly or suddenly, especially to avoid arrest, prosecution, or service of process. 2. To leave a place usually hurriedly, with another’s money or property.
All merchandise is prepaid before it leaves the factory, what merchants are collecting at the retail level is the tax, capital, interest, accrual or revenue on you as the principal, because you have abandoned your exemption as the Principal. They cannot execute on a contract under the common law, because there is no money that is why they have to do an exchange using your exemption for the debt to discharge, redeem or effectuate post settlement and closure of your account. This is why the banks never close your account after you have withdrawn all your money.
When you are refused access to a credit card by alleged bad credit they [the bank] are making a claim on your account by using your exemption. They are assuming ownership of your name as the principal; if they release the account they are giving you your deduction for the prepaid account as the principal. The bottom line to all this is that you only have what you lay claim to. Remember that rights are defined under 1-201 (34) of the UCC as remedies.
The Jewish Passover is just an exchange of the future to the past or the past to the future. In other words your treasury Bill is exchanged for a Treasury Bond making the Bill a future event or Futures Contract.
This comes from a Federal Reserve Report which says that 15 % of 100 = 85, 15 % of 85 = 72.25 etc. total 100, 85, and 72.25 and so on you get 666. Gold held in reserve is 15 % based on $100 deposit = 666, 20 % = 500 this is commodities and 10 % = 1000 and Franklin Delano Roosevelt sold more Gold Contracts than the Treasury had Gold and was the reason for the passage of the Federal Reserve Act and why they had to take gold and silver out of circulation to cover up the fraud. This is why they passed HJR 192 [Title 31 section 5118 2 (d)] and goes into the 33 % that provides funds for funding the public municipalities.
This practice was used by Proctors in the Vice Admiralty Courts in the Colonies prior to the American Revolution and was delivered to the clerk of the Maryland district court, Phillip Moore on the 4th day of October, 1809. The first edition was printed in 1679, a third edition was published in the year 1722 and a new edition in 1791 of which this is a exact and faithful copy of which Lord Hardwicke considered of “unquestionable character”. This practice is quoted in Waring v. Clarke 5 Howard, [46 U.S.] 454.
This practice was written for private viewing only and not public as evidenced by its substance.
Arches Court = In English Ecclesiastical Law a Court of Appeal belonging to the Archbishop of Canterbury, the judge of which is called the “The Dean of Arches” because his court was anciently held in the church of Saint Mary Le-Bow. [Sancta Maria de – Arcubus]. So named from the steeple, which is raised upon pillars built arch wise 3 BL Commentary 64.
The court was formerly held in the hall belonging to the College of Civilians, commonly called “Doctor’s Commons.” It is now held in Westminster Hall. It’s proper jurisdiction is only over the thirteen peculiar parishes belonging to the Archbishop in London, but the office of the Dean of the Arches, having been for a long time united with that of the Archbishop’s principal official, The judge of the Arches, in right of such added office, it receives and determines appeals from the sentences of all inferior Ecclesiastical Courts within the province.
Civilian = One who is called or versed in the Civil Law, a doctor, professor, or student of the Civil Law. Also a private citizen, as distinguished from such as belong to the Army and Navy or [in England] the church.
Register = An officer authorized by law to keep a record called a “Register” or Registry” as the Register for the Probate of Wills.
CURIA = In old European Law. A court. The palace, household, or retinue of a sovereign. A judicial tribunal or court held in the Sovereign’s palace. A court of justice The civil power, as distinguished from the Ecclesiastical. A manor; a nobleman’s house; the hall of a manor. A piece of ground attached to a house; a yard or courtyard. Spelman. A Lord’s court held his manor. The tenants who did suit and service at the lord’s court. A manse, Cowell.
A division of the Roman people, said to have been made by Romulus. They were divided into three tribes, and each tribe into ten curiae, making thirty curiae in all. Spelman. The place or building in which each curia assembled to offer sacred rites. The place of meeting of the Roman senate; the senate house. The senate house of a province; the place where the decuriones assembled. Cod. 10, 31, 2.
DECURIO = Latin. A decurion In the provincial administration of the Roman Empire, the decurions were the chief men or official personages of the large towns. Taken as a body, the decurions of a city were charged with the entire control and administration of its internal affairs; having powers both magisterial and legislative. See 1 Spence, Eq. Jur. 54.
Bonds were referred to as Fidejussory Security. Fidejussores were the guarantors for payment of the Defendant [Debtor] debts. A defendant needs at least two Fidejussores, who should be bound to the plaintiff, in the sum for which the action was instituted. A Letter Rogatory were called a patent writ [open writ one not sealed or closed] close writ [a royal writ sealed because the contents were not deemed appropriate for public inspection.
The Plaintiff is also obliged to find Fidejussores to these effects, viz. for the prosecution of the suit; for the payment of the defendant’s costs if the plaintiff fail in his cause, and for the production of the plaintiff personally as often as he may be called. As all civil and maritime cause is summary, the mode of proceeding and the final sentencing are the same as in Ecclesiastical cases.
The commercial Courts or Tribunals on the continent of Europe were formerly called Consuls. In France, Judges and Consuls; In Spain Priors and Consuls; In Italy, Maritime Consuls. Hence the most ancient work, which is extant, on maritime and commercial law is called, the Consulate of the sea. Commercial agents who are sent from one country to another are called Consuls, because they formerly had a consular jurisdiction, or cognizance of all commercial and maritime causes between subjects of their own nations. To these commercial and maritime Courts, therefore, commissions sub mutuoe or letters rogatory were, in our authour’s time, usually directed; and at this day it seems that they might with propriety be directed to the Court or Judge, of the place to which they are sent, exercising admiralty and maritime jurisdiction.
“Before making the seizure, a full proof of the debt is to be made to the Judge according to his discretion.” “If he be declared in contumacy [contempt] Scacc. n. 5. the judges of our day, according to custom, decree a sequestration [removal of property from debtor] at the instance of the creditor alone, without the existence of any suspicion. Scacc. n. 11. If nothing is proved to the Judge and nothing is sworn by the creditor, the attachment is granted upon the simple assertion of the creditor.
Default mentioned above, “commonly signifies an offence in omitting that which we ought to do, yet here it is taken as a non appearance in Court at a day assigned” If you don’t make an appearance and pay the debt, you are in “contumacy [contempt] and in pain of their contumacy[contempt] be decreed to have incurred the first default.” A loan is a maritime contract, a juratory caution in maritime law is a court’s permission for an indigent to disregard filing fees an court costs A suit upon juratory caution is the equivalent of a suit in forma pauperis. The right was first recognized in United States admiralty courts in Bradford v. Bradford, 3 F. Case 1129 (1878).
Four defaults are to be pronounced against the defendant, if he does not appear within the term assigned to him by the Judge, before the Judge shall decree the plaintiff to be put in possession of the goods of the defendant, which is contrary to the ancient usage of the Court of Admiralty.
The oath to hold bail was an oath of calumny [oath to support plaintiff or defendant’s good faith and belief that there was a bone fide claim].
Instrument drawn under the hand of a Notary Public, or other publick person, either in or out of Court.
That which is sealed with some publick or authentick seal, (though written by a private) as of a Prince, City, University or College.
All writings whatsoever (though private) which are exemplified by the authority of the Judge or Magistrate.
Those writings which are subscribed by the person and witnesses. And this is publick as to its effects.
Private letters betwixt one friend and another, one tradesman and another.
An appeal of an interlocutory decree may be done either viva voce [orally or by word of mouth] before the Judge or apud acta [recorded in writing and to appeals taken orally in front of the judge] when he delivers the sentence or interlocutory decree, or before a notary and witnesses within the 15 days which are allowed by the statutes of the kingdom for bringing appeals.
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