§39B-1  Definitions.  Whenever used inthis [chapter], unless a different meaning clearly appears from the context:

"Annual state ceiling" means theprincipal amount of private activity bonds which may be issued in each calendaryear by all issuers and counties in the State under the Internal Revenue Codeof 1986, as the same may be amended.

"Department" means the department ofbudget and finance.

"Governing body" means the councilsof the counties, or any other body exercising the legislative powers of acounty.

"Issuer" means any state department,board, commission, officer, or authority, or private not-for-profit corporationauthorized under the laws of the State to issue private activity bonds.

"Private activity bond" shall havethe same meaning as the term is defined in the Internal Revenue Code of 1986,as the same may be amended. [L 1985, c 12, pt of §2; am L 1987, c 62, §3]