As used in this article, unless the context otherwise
requires:
(1) Authority means the Colorado educational and cultural facilities
authority created by this article.
(2) Board means the board of directors of the authority.
(3) Bond, note, bond anticipation note, certificate of participation, or
other obligation means any bond, note, certificate of participation in annually
renewable leases, debenture, interim certificate, or other evidence of financial
indebtedness issued by the authority pursuant to this article or issued by another
issuer pursuant to other statutory authority, including refunding bonds.
(4) Bond resolution means the resolution authorizing the issuance of, or
providing terms and conditions related to, bonds issued under the provisions of this
article and includes any trust agreement, trust indenture, indenture of mortgage, or
deed of trust providing terms and conditions for such bonds.
(5) Commission means the Colorado commission on higher education.
(6) Costs, as applied to facilities financed in whole or in part under the
provisions of this article, means and includes the sum total of all reasonable or
necessary costs incidental to the acquisition, construction, reconstruction, repair,
alteration, equipment, enlargement, improvement, and extension of such facilities
and the acquisition of all lands, structures, real or personal property, rights, rights-of-way, franchises, easements, and interest acquired, necessary, used for, or useful
for or in connection with a facility and all other undertakings which the authority
deems reasonable or necessary for the development of a facility, including without
limitation the cost of studies and surveys, of land title and mortgage guaranty
policies, of plans, specifications, and architectural and engineering services, of
legal, accounting, organization, marketing, or other special services, of financing,
acquisition, demolition, construction, equipment, and site development of new and
rehabilitated buildings, of rehabilitation, reconstruction, repair, or remodeling of
existing buildings, and of all other necessary and incidental expenses, including
working capital, an initial bond, and interest reserve funds, together with interest on
bonds issued to finance such facilities until a date not more than six months
subsequent to the estimated date of completion.
(6.3) (a) Cultural institution means any governmental, quasi-governmental,
or nonprofit institution that engages in cultural, intellectual, scientific, educational,
or artistic enrichment. Cultural institution includes, without limitation, any
aquarium, botanical society, educational society, historical society, library, museum,
gallery, performing arts association or society, nonprofit sports association,
committee, or governing body, scientific society, natural history society or
organization, zoological society, society for western history and western culture,
sponsor of housing facilities that serve the cultural needs of their residents, and
any private nonprofit foundation, nonprofit association, or other entity that is
organized principally for the support and benefit of any of the foregoing.
(b) Cultural institution also includes any governmental, quasi-governmental, or nonprofit institution, corporation, association, or organization that,
through one or more affiliates, directly or indirectly engages in cultural,
intellectual, scientific, educational, or artistic enrichment in this state or outside
this state if:
(I) Such institution, corporation, association, or organization, or an affiliate of
such an entity, is engaged in a financing or refinancing on behalf of a facility within
this state or outside of this state; and
(II) Such institution, corporation, association, or organization, or an affiliate
of such an entity, operates a cultural facility within this state.
(c) (Deleted by amendment, L. 2003, p. 2055, � 1, effective May 22, 2003.)
(6.5) Deep discount means any obligation for which the original purchase
price is substantially less than the par amount paid upon maturity.
(7) (Deleted by amendment, L. 2006, p. 1496, � 31, effective June 1, 2006.)
(8) (a) Educational institution means any governmental, quasi-governmental, or nonprofit educational institution operating in this state that:
(I) Provides an educational program for which it awards a bachelor's degree;
or
(II) Provides not less than a two-year program which is acceptable for full
credit towards such a degree; or
(III) Provides not less than a six-month program of training to prepare
students for gainful employment; or
(IV) Provides not less than a six-month program of training to develop,
improve, or enhance the occupational skills of persons in their current positions of
employment or of persons seeking employment in a new or different occupation; or
(V) Provides an educational program pursuant to a charter from a school
district in accordance with applicable laws; or
(VI) Provides an educational program to the residents of the state; or
(VII) Provides or finances, directly or indirectly through one or more
affiliates, an educational program or educational services in this state or outside
this state; or
(VIII) Is any public school district; or
(IX) Provides an educational program pursuant to a contract with the state
charter school institute in accordance with applicable laws.
(b) (Deleted by amendment, L. 2004, p. 1518, � 1, effective May 28, 2004.)
(c) Educational institution includes any private foundation, nonprofit
association, or any other entity which is organized principally for the support and
benefit of any educational institution defined in paragraph (a) of this subsection (8)
and includes but is not limited to the Auraria higher education center. Any
reference in this article to educational institution supported in whole or in part by
state funds includes but is not limited to the Auraria higher education center.
(8.5) (a) (I) (A) Facility, in the case of a participating educational institution,
means any structure or building suitable for use as a housing facility, an
instructional facility, an administration building, a research facility, a laboratory, a
maintenance, storage, or utility facility, an auditorium, a dining hall, a food service
and preparation facility, a mental or physical health-care facility, a recreational
facility, a hotel, or a student center facility or any other structure or facility
required or useful for the operation of an educational institution, including, but not
limited to: Offices, parking lots and garages, eating or drinking establishments, gift
shops, lodging, and other supporting service structures; any equipment,
furnishings, and appurtenances necessary or useful in the operation of a
participating educational institution; and 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.
(B) Facility, in the case of a participating educational institution, also
means any structure or building described in sub-subparagraph (A) of this
subparagraph (I) that is located within the state or outside the state and that is
operated or financed by an educational institution if such institution operating or
financing such structure or building, or an affiliate of such institution, operates or
finances an educational facility within this state.
(II) (A) Facility, in the case of a cultural institution, means any property that
is suitable for the particular purposes of a cultural institution, including, without
limitation, any such property suitable for use as or in connection with the operation
of any one or more of the following: An administrative facility, an aquarium, an
assembly hall, an auditorium, a botanical garden, an exhibition or performance hall
or structure, a gallery, a greenhouse, a library, a museum, a scientific laboratory, a
film center, a hotel, a housing facility that serves the cultural needs of its residents
and is being financed as part of a multistate program of financing educational or
cultural facilities under this article, a theater, or a zoological facility; and also
including, without limitation, the books, works of art or music, and the animal, plant,
or aquatic life or other items contained therein for display, exhibition, or
performance. The term facility includes any other structure or facility required or
useful for the operation of a cultural institution including, but not limited to, offices,
parking lots and garages, eating or drinking establishments, gift shops, lodging,
and other supporting service structures; any equipment, furnishings, and
appurtenances necessary or useful in the operation of a cultural institution; and 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. The term
facility also includes buildings on the national register of historic places that are
owned or operated by nonprofit or governmental entities, including the authority.
(B) Facility, in the case of a cultural institution, also means any property
described in sub-subparagraph (A) of this subparagraph (II) that is located within
the state or outside the state and that is operated or financed by a cultural
institution if such institution operating or financing such property, or an affiliate of
such institution, also operates or finances a cultural facility within this state.
(b) Facility does not include such items as food, fuel, supplies, or other
items which are customarily considered as current operating expenses or charges.
(9) Refinancing of outstanding obligations means liquidation, with the
proceeds of bonds or notes issued by the authority, of any indebtedness of a
participating educational institution or cultural institution incurred prior to, on, or
after July 1, 1981, to finance or aid in financing a lawful purpose of such institution
not financed pursuant to this article which would constitute a facility had it been
undertaken and financed by the authority. The term also means consolidation of
such indebtedness with indebtedness of the authority incurred for a facility related
to the purpose for which the indebtedness of such institution was initially incurred.
(10) Revenues means, with respect to facilities, the rents, fees, charges,
interest, principal repayments, and other income received or to be received by the
authority from any source on account of such facilities.
(11) Zero-coupon means any obligation, as defined in subsection (3) of this
section, which is payable in one payment on a fixed date.