Inauguration (noun)

1. The ceremony marking the beginning of a new term of office for a president.
2. The formal installation of a person in a new office or position.
3. The beginning of a new period of office, especially for a president.

Origin:

Late middle english, from old french inauguracion, from latin inauguratio(n-), from inaugurare "to consecrate by taking omens", from in- "into" + augurare "to take omens".

Examples:

1. The inauguration of the new president was attended by dignitaries from around the world.
2. The inauguration of the new city mayor was marked by a parade and a speech.
3. The inauguration of the new university president was a historic event.
4. The inauguration of the new museum was marked by the unveiling of its collections.
5. The inauguration of the new government was accompanied by much fanfare and celebration.