As used in this part 7, unless the context otherwise
requires:
(1) Committee means the governing body of a district or any successor
governing body of the district.
(2) District means any local college district operating pursuant to the laws
of this state.
(3) Facilities means buildings, structures, or other income-producing
facilities from the operation of which or in connection with which pledged revenues
for the payment of any securities issued under this part 7 are derived, including
without limitation any facilities to be acquired with the proceeds of the securities
issued under this part 7.
(4) Net revenues or net pledged revenues means all pledged revenues
after the deduction of operation and maintenance expenses.
(5) (a) Operation and maintenance expenses means such reasonable and
necessary current expenses of the district, paid or accrued, of operating,
maintaining, and repairing the facilities pertaining to the pledged revenues for the
payment of the securities issued under this part 7, as may be determined by a
committee, and the term may include, at a committee's option, except as limited by
contract or otherwise limited by law, without limiting the generality of the
foregoing:
(I) Legal and overhead expenses of the various district departments directly
related and reasonably allocable to the administration of the facilities;
(II) Fidelity bond and insurance premiums appertaining to the facilities or a
reasonably allocable share of a premium of any blanket bond or policy pertaining to
the facilities;
(III) The reasonable charges of any paying agent or depository bank
appertaining to any securities issued by a district or appertaining to any facilities;
(IV) Contractual services, professional services, salaries, administrative
expenses, and costs of labor appertaining to facilities;
(V) The costs incurred by a district in the collection of all or any part of the
pledged revenues, including without limitation revenues appertaining to any
facilities;
(VI) Any costs of utility services furnished to the facilities by the district or
otherwise.
(b) Operation and maintenance expenses does not include:
(I) Any allowance for depreciation;
(II) Any costs of reconstruction, improvements, extensions, or betterments;
(III) Any accumulation of reserves for capital replacements;
(IV) Any reserves for operation, maintenance, or repair of any facilities;
(V) Any allowance for the redemption of any bond securities evidencing a
loan or other obligations, or the payment of any interest thereon;
(VI) Any liabilities incurred in the acquisition or improvement of any
properties comprising any project or any existing facilities, or any combination
thereof;
(VII) Any other ground of legal liability not based on contract.
(6) (a) Pledged revenues means the moneys pledged wholly or in part for
the payment of securities issued under this article and, subject to any existing
pledges or other contractual limitations, may include, at a committee's discretion,
any grants, appropriations, or other donations from the United States or its
agencies or from any other donor, except the state or its agencies or political
subdivisions, and income or moneys derived from one, all, or any combination of the
following revenue sources, including without limitation student fees and other fees,
rates, and charges appertaining thereto and for the development thereof:
(I) Dormitories, apartments, and other housing facilities;
(II) Cafeterias, dining halls, and other food service facilities;
(III) Student union and other student activities facilities;
(IV) Store or other facilities for the sale or lease of books, stationery, student
supplies, faculty supplies, office supplies, and like material;
(V) Theater, gymnasium, fieldhouse, stadium, arena, and other recreation or
athletic facilities for use in part by spectators or otherwise;
(VI) Land and any structures, other facilities, or improvements thereon used
or available for use for the parking of vehicles used for the transportation by land or
air of persons to or from such land and any improvements thereon;
(VII) Properties providing heat or any other utility furnished by a district to
any facilities on campus;
(VIII) Services, contracts, investments, and other miscellaneous unrestricted
sources of income not designated in this part 7, whether presently realized or to be
realized, and accounted for in a miscellaneous sales and services fund or account.
(b) Pledged revenues does not include income or moneys derived in
connection with any of the following:
(I) Any tuition charges and registration fees;
(II) The levy of any general (ad valorem) property taxes;
(III) Any grants, appropriations, or other donations from the state, its
agencies, or its political subdivisions.
(7) Registration fees means any charges paid by any student for the
privilege of registering for attendance at a local district college in a district, except
for any charges appertaining to those revenue sources set forth in subsection (6)(a)
of this section.
(8) Securities means bonds and interim securities authorized to be issued
under this part 7 in the name of and on the behalf of a district.
(9) Tuition charges means the price of or payment for general and special
instruction of students as defined and determined from time to time by the
committee.