PART II. ASSISTING NOT-FOR-PROFIT CORPORATIONS THAT PROVIDE

HEALTHCARE FACILITIES TO THE GENERAL PUBLIC

 

§39A-31  Definitions.  Whenever used inthis part, unless a different meaning clearly appears from the context:

"Department" means the department ofbudget and finance.

"Health care facility","facility", or "project" means any facility for each singleproject or multiproject program of a project party and includes any structureor building suitable for use as a hospital, clinic, nursing home, home for theaged or infirm, or other health care facility; laboratory; laundry; nurses' or[interns'] residences; administration building; research facility; maintenance,storage, or utility facility; auditorium; dining hall; food service andpreparation facility; mental or physical health care facility; dental carefacility; nursing school; medical or dental school or teaching facility; mentalor physical health facilities related to any such structure or facility;equipment; software; or any other structure, facility, equipment, or softwarerequired or useful for the operation of a health care facility, including, butnot limited to, offices, parking lots and garages, and other supporting servicestructures and all necessary, useful, and related equipment, furnishings, andappurtenances and including the acquisition, preparation, and development ofall real and personal property necessary or convenient as a site or sites forany such structure or facility, and including the refinancing of outstandingobligations of a project party relating to any of the foregoing.  "Healthcare facility", "facility", or "project" does notinclude any property used or to be used primarily for sectarian instruction orstudy or as a place for devotional activities or religious worship or anyproperty used or to be used primarily in connection with any part of a programof a school or department of divinity of any religious denomination.

"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 a project party or for a project party or to loan the proceeds ofthe bonds to assist not-for-profit corporations that provide health carefacilities to the general public, including without limitation any loanagreement, lease, sublease, conditional sale agreement, or other similarfinancing contract or agreement, or any combination thereof, entered into bythe department with a project party and, where necessary or appropriate, with alender, lessor, or other third party.

"Project party" means anot-for-profit corporation that provides health care facilities to the generalpublic.

"Refinancing of outstandingobligations" or "refinancing" means the liquidation, retirement,or provision for retirement with the proceeds of bonds issued by the State, ofany indebtedness of a project party incurred to finance or aid in financing alawful purpose of such project party not financed pursuant to this part whichconstitutes a health care facility or consolidation of such indebtedness withindebtedness of the State incurred for a health care facility related to thepurpose for which the indebtedness of the project party was initially incurred.

"Special purpose revenue bonds" or"bonds" means bonds, notes, or other evidences of indebtedness of theState issued pursuant to this part. [L 1980, c 255, pt of §2; am L 2005, c 77,§1]

 

Revision Note

 

  Numeric designations deleted.