12-3802.   Same; definitions.As used in this act: (a) "Industrial development bond" means anobligation issued by any local unit of government of the state under theauthority of this act for the purpose of financing the acquisition of land,the acquisition or construction (including reconstruction, improvement,expansion, extension, and enlargement) of buildings and appurtenances,including but not by way of limitation industrial trackage and accessroads, the purpose of such financing being primarily to sell or lease theproperty so financed to a private individual, partnership, or corporationfor the conduct of manufacturing, warehousing, distribution, and/orresearch and development operations, except municipal stadiums andtheaters.

      (b)   "Local unit of general government" means a county or a city.

      History:   L. 1974, ch. 49, § 2; July 1.