123.153 - DEFINITIONS.
123.153 DEFINITIONS.
As used in this division, unless the context otherwise requires:
1. "Gross revenue" means all income or receipts derived from
the operation of liquor sale activities.
2. "Liquor sale activities" means any activities conducted by
the commission and the division with reference to the sale of
alcoholic liquor.
3. "Net revenues" means gross revenues less operating
expense.
4. "Operating expense" means salaries, wages, costs of
maintenance and operation, materials, supplies, inventories,
insurance, and other items in relation to liquor sale activities
included under recognized public agency accounting practices, but
does not include allowances for depreciation in the value of physical
property.
5. "Project" means acquisition, construction, reconstruction,
improvement, repair and equipment of land, buildings, facilities and
property of every kind except inventory, deemed necessary by the
commission for use as a warehouse, which shall include office space.
6. "Revenue bond" or "bond" means a negotiable bond
issued by the state and payable from the net revenues of liquor sale
activities or of any part or project thereof. Section History: Early Form
[C81, § 123.153]