9-441

9-441. Definitions

In this article, unless the context otherwise requires:

1. "Housing" means any structure suitable for residence by an individual or family.

2. "Housing development area" means an area within a municipality that is declared
by the local governing body to be in serious need of housing and that is declared to be
in need of the expenditure of public monies to assist the development of housing in the
area.

3. "Housing development project" means any undertaking related to real property,
structures or improvements in a housing development area, for the purpose of establishing
housing and other facilities necessary or incidental to the housing and primarily for the
use of those residing in the housing.

4. "Local governing body" means the council or legislative body charged with
governing the municipality.

5. "Municipality" means an incorporated city or town.

6. "Obligee" includes any bondholder, any agents or trustees for any bondholders or
any lessor demising to the municipality property used in connection with a housing
development project, or any assignee or assignees of such lessor's interest or any part
of the lessor's interest, and the federal government when it is a party to any contract
with the municipality.