As used in this chapter, the following terms have
the meanings indicated unless the context clearly requires otherwise.
(1) "Board of directors" means the board of directors of a public
corporation.
(2) "Construction" or "construct" means construction and acquisition,
whether by devise, purchase, gift, lease or otherwise.
(3) "Facilities" mean[s] land, rights in land, buildings, structures,
machinery, landscaping, extension of utility services, approaches, roadways
and parking, handling and storage areas, and similar auxiliary facilities.
(4) "Financing document" means a lease, sublease, installment sale
agreement, conditional sale agreement, loan agreement, mortgage, deed of trust
guaranty agreement or other agreement for the purpose of providing funds to
pay or secure, debt service on revenue bonds.
(5) "Improvement" means reconstruction, remodeling, rehabilitation,
extension, and enlargement, and "to improve" means to reconstruct, to remodel,
to rehabilitate, to extend, and to enlarge.
(6) "Industrial development facilities" mean manufacturing, processing,
production, assembly, warehousing, solid waste disposal, recreation and energy
facilities, excluding facilities to transmit, distribute or produce electrical
energy. Recreation facilities, as used in this chapter, shall be limited to
ski areas. However, funds raised pursuant to this chapter for ski areas shall
be limited in application to the acquisition and preparation of land,
acquisition and construction of ski lifts, lighting of ski slopes,
construction of access and interior roadways, parking lots, maintenance
facilities and maintenance equipment, administrative facilities, and
utilities.
(7) "Municipality" means a city or county of this state.
(8) "Ordinance" means any appropriate method of taking official action or
adopting a legislative decision by any municipality, whether known as a
resolution, ordinance or otherwise.
(9) "Project costs" mean costs of:
(a) Acquisition, construction and improvement of any facilities included
in an industrial development facility;
(b) Architectural, engineering, consulting, accounting, and legal costs
related directly to the development, financing, and construction of an
industrial development facility, including costs of studies assessing the
feasibility of an industrial development facility, and including all
administrative costs incurred before the issuance of the bonds;
(c) Finance costs, including discounts, if any, the costs of issuing
revenue bonds, and costs incurred in carrying out any trust agreement;
(d) Interest during construction and interest on revenue bonds issued to
finance such facility to a date no later than six (6) months subsequent to
the estimated date of completion, and capitalized debt service or repair
and replacement or other appropriate reserves;
(e) The refunding of any outstanding obligations incurred for any of the
costs outlined in this subsection; and
(f) Other costs incidental to any of the costs listed in this section.
(10) "Revenue bond" means a nonrecourse revenue bond, nonrecourse revenue
note or other nonrecourse revenue obligation issued for the purpose of
financing an industrial development facility on an interim or permanent basis.
(11) "User" means any individual, partnership, copartnership, firm,
company, corporation, investor-owned utility, association, joint stock
company, trust, estate, or any other legal entity, or their legal
representatives, agents, or assigns acting as lessee, purchaser, mortgagor or
borrower under a financing document and may include a party who transfers the
right of use and occupancy to another party by lease, sublease or otherwise. |
