jubilee JOO-buh-lee
noun;
1. Any season or occasion of rejoicing or festivity.
2. The celebration of any of certain anniversaries, as the twenty-fifth (silver jubilee), fiftieth (golden jubilee), or sixtieth or seventy-fifth (diamond jubilee).
3. The completion of 50 years of existence, activity, or the like, or its celebration.
4. A yearlong period to be observed by Jews once every 50 years, during which Jewish slaves were to be freed and alienated lands were to be restored to the original owner.