[PART
VIII.]  ASSISTING NOT-FOR-PROFIT PRIVATE NONSECTARIAN AND



SECTARIAN
ELEMENTARY SCHOOLS, SECONDARY SCHOOLS, COLLEGES, AND



UNIVERSITIES
SERVING THE GENERAL PUBLIC



 



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



"Department" means the department of
budget and finance.



"Project agreement" means any
agreement entered into under this part by the department with a project party
providing for the issuance of special purpose revenue bonds to finance
facilities of the project party or for the project party or to loan the
proceeds of such bonds to assist not-for-profit private nonsectarian and
sectarian elementary schools, secondary schools, colleges, and universities
that serve the general public, including, without limitation, on any loan
agreement.



"Project party" means a
not-for-profit private nonsectarian and sectarian elementary school, secondary
school, college, and university that serves the general public.



"Refinancing of outstanding
obligations" or "refinancing" means the liquidation; the
retirement; the provision for retirement through the proceeds of bonds issued
by the State of any indebtedness of a project party incurred to finance or help
finance a lawful purpose of the project party not financed pursuant to this
part; or the consolidation of such indebtedness with indebtedness of the State
incurred by the project party related to the purpose for which the indebtedness
of the project party was initially incurred.



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