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



HEALTH
CARE FACILITIES TO THE GENERAL PUBLIC



 



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



"Department" means the department of
budget and finance.



"Health care facility",
"facility", or "project" means any facility for each single
project or multiproject program of a project party and includes any structure
or building suitable for use as a hospital, clinic, nursing home, home for the
aged 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 and
preparation facility; mental or physical health care facility; dental care
facility; nursing school; medical or dental school or teaching facility; mental
or physical health facilities related to any such structure or facility;
equipment; software; or any other structure, facility, equipment, or software
required or useful for the operation of a health care facility, including, but
not limited to, offices, parking lots and garages, and other supporting service
structures and all necessary, useful, and related equipment, furnishings, and
appurtenances and including the acquisition, preparation, and development of
all real and personal property necessary or convenient as a site or sites for
any such structure or facility, and including the refinancing of outstanding
obligations of a project party relating to any of the foregoing.  "Health
care facility", "facility", or "project" does not
include any property used or to be used primarily for sectarian instruction or
study or as a place for devotional activities or religious worship or any
property used or to be used primarily in connection with any part of a program
of a school or department of divinity of any religious denomination.



"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 a project party or for a project party or to loan the proceeds of
the bonds to assist not-for-profit corporations that provide health care
facilities to the general public, including without limitation any loan
agreement, lease, sublease, conditional sale agreement, or other similar
financing contract or agreement, or any combination thereof, entered into by
the department with a project party and, where necessary or appropriate, with a
lender, lessor, or other third party.



"Project party" means a
not-for-profit corporation that provides health care facilities to the general
public.



"Refinancing of outstanding
obligations" or "refinancing" means the liquidation, retirement,
or provision for retirement with the proceeds of bonds issued by the State, of
any indebtedness of a project party incurred to finance or aid in financing a
lawful purpose of such project party not financed pursuant to this part which
constitutes a health care facility or consolidation of such indebtedness with
indebtedness of the State incurred for a health care facility 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 evidences of indebtedness of the
State issued pursuant to this part. [L 1980, c 255, pt of §2; am L 2005, c 77,
§1]



 



Revision Note



 



  Numeric designations deleted.