[PARTVIII.]  ASSISTING NOT-FOR-PROFIT PRIVATE NONSECTARIAN AND

SECTARIANELEMENTARY SCHOOLS, SECONDARY SCHOOLS, COLLEGES, AND

UNIVERSITIESSERVING THE GENERAL PUBLIC

 

[§39A-251]  Definitions.  Whenever usedin this part, unless a different meaning clearly appears from the context:

"Department" means the department ofbudget and finance.

"Project agreement" means anyagreement entered into under this part by the department with a project partyproviding for the issuance of special purpose revenue bonds to financefacilities of the project party or for the project party or to loan theproceeds of such bonds to assist not-for-profit private nonsectarian andsectarian elementary schools, secondary schools, colleges, and universitiesthat serve the general public, including, without limitation, on any loanagreement.

"Project party" means anot-for-profit private nonsectarian and sectarian elementary school, secondaryschool, college, and university that serves the general public.

"Refinancing of outstandingobligations" or "refinancing" means the liquidation; theretirement; the provision for retirement through the proceeds of bonds issuedby the State of any indebtedness of a project party incurred to finance or helpfinance a lawful purpose of the project party not financed pursuant to thispart; or the consolidation of such indebtedness with indebtedness of the Stateincurred by the project party related to the purpose for which the indebtednessof the project party was initially incurred.

"Special purpose revenue bonds" or"bonds" means bonds, notes, or other evidence of indebtedness of theState issued pursuant to this part. [L 2002, c 257, pt of §1]