State Codes and Statutes

Statutes > North-carolina > Chapter_159D > GS_159D-37

§ 159D‑37.  Definitions.

As used or referred to in thisArticle, the following words and terms have the following meanings, unless thecontext clearly indicates otherwise:

(1)        "Agency"means the North Carolina Capital Facilities Finance Agency or, should thisagency be abolished or otherwise divested of its functions under this Article,the public body succeeding it in its principal functions, or upon which areconferred by law the rights, powers and duties given by this Article to theagency.

(1a)      "Bonds" or"notes" means the revenue bonds or bond anticipation notes,respectively, authorized to be issued by the agency under this Article,including revenue refunding bonds, notwithstanding that they may be secured bya deed of trust or the full faith and credit of a participating institution orany other lawfully pledged security of a participating institution.

(2)        "Cost", asapplied to any project or any portion of a project financed under theprovisions of this Article, means all or any part of the cost of construction,acquisition, alteration, enlargement, reconstruction and remodeling of aproject, including all lands, structures, real or personal property, rights,rights‑of‑way, franchises, easements and interests acquired or usedfor or in connection with a project, the cost of demolishing or removing anybuildings or structures on land so acquired, including the cost of acquiringany lands to which such buildings or structures may be moved, the cost of allmachinery and equipment, financing charges, interest prior to and duringconstruction and, if deemed advisable by the agency, for a period not exceedingtwo years after the estimated date of completion of construction, the cost ofengineering and architectural surveys, plans and specifications, the cost ofconsulting and legal services and other expenses necessary or incident todetermining the feasibility or practicability of constructing or equipping aproject, the cost of administrative and other expenses necessary or incident tothe construction or acquisition of a project and the financing of theconstruction or acquisition thereof, including reasonable provision for workingcapital and a reserve for debt service, and the cost of reimbursing anyparticipating institution for any payments made for any cost described above orthe refinancing of any cost described above, including any evidence ofindebtedness incurred to finance such cost; provided, however, that no paymentshall be reimbursed or any cost or indebtedness be refinanced if such paymentwas made or such cost or indebtedness was incurred before November 25, 1981.

(3),       (4) Repealed bySession Laws 2000, c. 179. s. 2, effective July 1, 2000.

(4a)      "Institution forelementary and secondary education" means a nonprofit institution withinthe State of North Carolina authorized by law and engaged or to be engaged inthe providing of kindergarten, elementary, or secondary education, or anycombination of these.

(5)        "Institutionfor higher education" means a nonprofit private educational institutionwithin the State of North Carolina authorized by law to provide a program ofeducation beyond the high school level.

(6)        "Participatinginstitution" means an institution for higher education, an institution forelementary and secondary education, or a special purpose institution that,pursuant to the provisions of this Article, undertakes the financing,refinancing, acquiring, constructing, equipping, providing, owning, repairing,maintaining, extending, improving, rehabilitating, renovating, or furnishing ofa project or undertakes the refunding or refinancing of obligations or of adeed of trust or a mortgage or of advances as provided in this Article.

(6a)      "Project"means any one or more buildings, structures, equipment, improvements,additions, extensions, enlargements, or other facilities comprising any of thefollowing:

a.         Educationalfacilities used by an institution for higher education or an institution forelementary and secondary education, including dormitories and other housingfacilities, housing facilities for student nurses, dining halls and other foodpreparation and food service facilities, student unions, administrationbuildings, academic buildings, libraries, laboratories, research facilities,classrooms, athletic facilities, health care facilities, laundry facilities,and other structures or facilities related to these facilities or required oruseful for the instruction of students, the conducting of research, or theoperation of the institution.

b.         Student housingfacilities to be owned or operated by an owner or operator other than aninstitution for higher education or an institution for elementary and secondaryeducation.

c.         A special purposeproject as defined in G.S. 159C‑3.

Theterm "project" includes landscaping, site preparation, furniture,equipment and machinery, and other similar items necessary or convenient foroperation of a particular facility in the manner for which its use is intended.The term also includes all appurtenances and incidental facilities, such asheadquarters or office facilities, maintenance, storage, or utility facilities,parking facilities, and other facilities related to, required, or useful forthe operation of the project or essential or convenient for the orderly conductof the facility. The term "project" does not include the cost ofitems that customarily result in a current operating charge, such as books,fuel, or supplies. The term does not include any facility used or to be usedfor sectarian instruction or as a place of religious worship nor any facilitythat is used or to be used primarily in connection with any part of the programof a school or department of divinity for any religious denomination.

(6b)      "Special purposeinstitution" means a for‑profit or not‑for‑profitcorporation or similar entity that undertakes any of the activities set forthin sub‑subdivisions (6a)b. and (6a)c. of this section.

(7)        "State"means the State of North Carolina. (1985 (Reg. Sess., 1986), c. 794, s. 3; 1998‑124,s. 4; 2000‑179, s. 2; 2007‑128, s. 2.)

State Codes and Statutes

Statutes > North-carolina > Chapter_159D > GS_159D-37

§ 159D‑37.  Definitions.

As used or referred to in thisArticle, the following words and terms have the following meanings, unless thecontext clearly indicates otherwise:

(1)        "Agency"means the North Carolina Capital Facilities Finance Agency or, should thisagency be abolished or otherwise divested of its functions under this Article,the public body succeeding it in its principal functions, or upon which areconferred by law the rights, powers and duties given by this Article to theagency.

(1a)      "Bonds" or"notes" means the revenue bonds or bond anticipation notes,respectively, authorized to be issued by the agency under this Article,including revenue refunding bonds, notwithstanding that they may be secured bya deed of trust or the full faith and credit of a participating institution orany other lawfully pledged security of a participating institution.

(2)        "Cost", asapplied to any project or any portion of a project financed under theprovisions of this Article, means all or any part of the cost of construction,acquisition, alteration, enlargement, reconstruction and remodeling of aproject, including all lands, structures, real or personal property, rights,rights‑of‑way, franchises, easements and interests acquired or usedfor or in connection with a project, the cost of demolishing or removing anybuildings or structures on land so acquired, including the cost of acquiringany lands to which such buildings or structures may be moved, the cost of allmachinery and equipment, financing charges, interest prior to and duringconstruction and, if deemed advisable by the agency, for a period not exceedingtwo years after the estimated date of completion of construction, the cost ofengineering and architectural surveys, plans and specifications, the cost ofconsulting and legal services and other expenses necessary or incident todetermining the feasibility or practicability of constructing or equipping aproject, the cost of administrative and other expenses necessary or incident tothe construction or acquisition of a project and the financing of theconstruction or acquisition thereof, including reasonable provision for workingcapital and a reserve for debt service, and the cost of reimbursing anyparticipating institution for any payments made for any cost described above orthe refinancing of any cost described above, including any evidence ofindebtedness incurred to finance such cost; provided, however, that no paymentshall be reimbursed or any cost or indebtedness be refinanced if such paymentwas made or such cost or indebtedness was incurred before November 25, 1981.

(3),       (4) Repealed bySession Laws 2000, c. 179. s. 2, effective July 1, 2000.

(4a)      "Institution forelementary and secondary education" means a nonprofit institution withinthe State of North Carolina authorized by law and engaged or to be engaged inthe providing of kindergarten, elementary, or secondary education, or anycombination of these.

(5)        "Institutionfor higher education" means a nonprofit private educational institutionwithin the State of North Carolina authorized by law to provide a program ofeducation beyond the high school level.

(6)        "Participatinginstitution" means an institution for higher education, an institution forelementary and secondary education, or a special purpose institution that,pursuant to the provisions of this Article, undertakes the financing,refinancing, acquiring, constructing, equipping, providing, owning, repairing,maintaining, extending, improving, rehabilitating, renovating, or furnishing ofa project or undertakes the refunding or refinancing of obligations or of adeed of trust or a mortgage or of advances as provided in this Article.

(6a)      "Project"means any one or more buildings, structures, equipment, improvements,additions, extensions, enlargements, or other facilities comprising any of thefollowing:

a.         Educationalfacilities used by an institution for higher education or an institution forelementary and secondary education, including dormitories and other housingfacilities, housing facilities for student nurses, dining halls and other foodpreparation and food service facilities, student unions, administrationbuildings, academic buildings, libraries, laboratories, research facilities,classrooms, athletic facilities, health care facilities, laundry facilities,and other structures or facilities related to these facilities or required oruseful for the instruction of students, the conducting of research, or theoperation of the institution.

b.         Student housingfacilities to be owned or operated by an owner or operator other than aninstitution for higher education or an institution for elementary and secondaryeducation.

c.         A special purposeproject as defined in G.S. 159C‑3.

Theterm "project" includes landscaping, site preparation, furniture,equipment and machinery, and other similar items necessary or convenient foroperation of a particular facility in the manner for which its use is intended.The term also includes all appurtenances and incidental facilities, such asheadquarters or office facilities, maintenance, storage, or utility facilities,parking facilities, and other facilities related to, required, or useful forthe operation of the project or essential or convenient for the orderly conductof the facility. The term "project" does not include the cost ofitems that customarily result in a current operating charge, such as books,fuel, or supplies. The term does not include any facility used or to be usedfor sectarian instruction or as a place of religious worship nor any facilitythat is used or to be used primarily in connection with any part of the programof a school or department of divinity for any religious denomination.

(6b)      "Special purposeinstitution" means a for‑profit or not‑for‑profitcorporation or similar entity that undertakes any of the activities set forthin sub‑subdivisions (6a)b. and (6a)c. of this section.

(7)        "State"means the State of North Carolina. (1985 (Reg. Sess., 1986), c. 794, s. 3; 1998‑124,s. 4; 2000‑179, s. 2; 2007‑128, s. 2.)


State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_159D > GS_159D-37

§ 159D‑37.  Definitions.

As used or referred to in thisArticle, the following words and terms have the following meanings, unless thecontext clearly indicates otherwise:

(1)        "Agency"means the North Carolina Capital Facilities Finance Agency or, should thisagency be abolished or otherwise divested of its functions under this Article,the public body succeeding it in its principal functions, or upon which areconferred by law the rights, powers and duties given by this Article to theagency.

(1a)      "Bonds" or"notes" means the revenue bonds or bond anticipation notes,respectively, authorized to be issued by the agency under this Article,including revenue refunding bonds, notwithstanding that they may be secured bya deed of trust or the full faith and credit of a participating institution orany other lawfully pledged security of a participating institution.

(2)        "Cost", asapplied to any project or any portion of a project financed under theprovisions of this Article, means all or any part of the cost of construction,acquisition, alteration, enlargement, reconstruction and remodeling of aproject, including all lands, structures, real or personal property, rights,rights‑of‑way, franchises, easements and interests acquired or usedfor or in connection with a project, the cost of demolishing or removing anybuildings or structures on land so acquired, including the cost of acquiringany lands to which such buildings or structures may be moved, the cost of allmachinery and equipment, financing charges, interest prior to and duringconstruction and, if deemed advisable by the agency, for a period not exceedingtwo years after the estimated date of completion of construction, the cost ofengineering and architectural surveys, plans and specifications, the cost ofconsulting and legal services and other expenses necessary or incident todetermining the feasibility or practicability of constructing or equipping aproject, the cost of administrative and other expenses necessary or incident tothe construction or acquisition of a project and the financing of theconstruction or acquisition thereof, including reasonable provision for workingcapital and a reserve for debt service, and the cost of reimbursing anyparticipating institution for any payments made for any cost described above orthe refinancing of any cost described above, including any evidence ofindebtedness incurred to finance such cost; provided, however, that no paymentshall be reimbursed or any cost or indebtedness be refinanced if such paymentwas made or such cost or indebtedness was incurred before November 25, 1981.

(3),       (4) Repealed bySession Laws 2000, c. 179. s. 2, effective July 1, 2000.

(4a)      "Institution forelementary and secondary education" means a nonprofit institution withinthe State of North Carolina authorized by law and engaged or to be engaged inthe providing of kindergarten, elementary, or secondary education, or anycombination of these.

(5)        "Institutionfor higher education" means a nonprofit private educational institutionwithin the State of North Carolina authorized by law to provide a program ofeducation beyond the high school level.

(6)        "Participatinginstitution" means an institution for higher education, an institution forelementary and secondary education, or a special purpose institution that,pursuant to the provisions of this Article, undertakes the financing,refinancing, acquiring, constructing, equipping, providing, owning, repairing,maintaining, extending, improving, rehabilitating, renovating, or furnishing ofa project or undertakes the refunding or refinancing of obligations or of adeed of trust or a mortgage or of advances as provided in this Article.

(6a)      "Project"means any one or more buildings, structures, equipment, improvements,additions, extensions, enlargements, or other facilities comprising any of thefollowing:

a.         Educationalfacilities used by an institution for higher education or an institution forelementary and secondary education, including dormitories and other housingfacilities, housing facilities for student nurses, dining halls and other foodpreparation and food service facilities, student unions, administrationbuildings, academic buildings, libraries, laboratories, research facilities,classrooms, athletic facilities, health care facilities, laundry facilities,and other structures or facilities related to these facilities or required oruseful for the instruction of students, the conducting of research, or theoperation of the institution.

b.         Student housingfacilities to be owned or operated by an owner or operator other than aninstitution for higher education or an institution for elementary and secondaryeducation.

c.         A special purposeproject as defined in G.S. 159C‑3.

Theterm "project" includes landscaping, site preparation, furniture,equipment and machinery, and other similar items necessary or convenient foroperation of a particular facility in the manner for which its use is intended.The term also includes all appurtenances and incidental facilities, such asheadquarters or office facilities, maintenance, storage, or utility facilities,parking facilities, and other facilities related to, required, or useful forthe operation of the project or essential or convenient for the orderly conductof the facility. The term "project" does not include the cost ofitems that customarily result in a current operating charge, such as books,fuel, or supplies. The term does not include any facility used or to be usedfor sectarian instruction or as a place of religious worship nor any facilitythat is used or to be used primarily in connection with any part of the programof a school or department of divinity for any religious denomination.

(6b)      "Special purposeinstitution" means a for‑profit or not‑for‑profitcorporation or similar entity that undertakes any of the activities set forthin sub‑subdivisions (6a)b. and (6a)c. of this section.

(7)        "State"means the State of North Carolina. (1985 (Reg. Sess., 1986), c. 794, s. 3; 1998‑124,s. 4; 2000‑179, s. 2; 2007‑128, s. 2.)