§ 35-18-2 - Definitions.
SECTION 35-18-2
§ 35-18-2 Definitions. – The words defined in this section shall have the meanings set forth belowwhenever they appear in this chapter, unless the context in which they are usedclearly requires a different meaning:
(1) "Bond" and "obligation" mean an agreement by any personto repay borrowed money.
(2) "Economic development project" means any project whichthe Rhode Island industrial facilities corporation is authorized to undertake,including, without limitation, a project related to financing the acquisitionof any land and any building or other improvement which shall be suitable formanufacturing, warehousing, or other industrial or commercial purposes,including research, production, processing, agricultural, and marine commerce;provided, however, that the project may include, in addition, the constructionor improvement of access roads and utilities, but only access roads andutilities, and only those which are necessary for the operation of that project.
(3) "Essential public facilities" means roads, bridges,airports, prisons, reservoirs, waste and wastewater treatment facilities,educational facilities, and any other facilities used by any state agency,department, board, or commission, including the board of governors for highereducation, to provide services to the public pursuant to the requirements ofstate or federal law, all fixtures for any of those facilities and facilitiesfinanced or refinanced by bonds or other obligations of the water resourcesboard corporate. It does not include any personal property.
(4) "Financing lease" means an agreement in the form of alease between the state and any person which provides that upon payment by thestate as lessee of aggregate rent equal to no less than all of the principaland interest on bonds or other obligations issued by the lessor to finance theacquisition, construction, or improvement of all or any part of an essentialpublic facility, the state shall have the right to possess, use and enjoy thatfacility pursuant to the lease for a specified period and the option topurchase that facility for a nominal sum at the end of the period.
(5) "Governor" means the governor of the state.
(6) "Guarantee" and "guarantee lease" mean an agreement onthe part of the state to guarantee any liability of a public corporation excepta liability of the Rhode Island industrial recreational building authority.
(7) [Deleted by P.L. 2005, ch. 117, art. 6, §1].
(8) "Person" means an individual, partnership, corporation,public corporation, trust, or association.
(9) "Public corporation" means any body corporate and politiccreated or to be created pursuant to statute, including, without limitation,the Rhode Island industrial recreational building authority, the Rhode Islandeconomic development corporation and any subsidiaries thereof, the Rhode Islandindustrial facilities corporation, the Rhode Island refunding bond authority,the Rhode Island health and educational building authority, the board ofgovernors for higher education, the Rhode Island housing and mortgage financecorporation, the Rhode Island resource recovery corporation, the Rhode Islandpublic transit authority, the Rhode Island student loan authority, the waterresources board corporate, (except as provided below), the Rhode Island healthand educational building corporation, the Rhode Island depositors economicprotection corporation, the Rhode Island convention center authority, the RhodeIsland turnpike and bridge authority, their successors and assigns. Cities,towns, and any corporation created by a city or town pursuant to statute, andfire and water districts, are not public corporations under this chapter. Thewater resources board corporate is not a public corporation under this chapterto the extent it is financing or refinancing bonds or other obligations onbehalf of a city, town, city or town instrumentalities or agencies, or fire orwater districts.
(10) "State" means the state of Rhode Island and ProvidencePlantations, and any department, office, board, commission, or agency of thestate.