RS 17:3369.2

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RS 17:3369.2

§3369.2. Definitions

As used in this Part, the following words shall have the following meanings unless the context clearly indicates otherwise:

(1)"Annual appropriation dependency clause" means a clause which shall be included in any financing arrangement which provides that if, after a diligent and good faith effort by the state to appropriate funds for the payment of sums due under a financing agreement, the funds are not appropriated, the agreement shall be terminated, and the state shall not be liable for the payment of further sums due thereunder.

(2)"Board" means the Board of Supervisors of Southern University and Agricultural and Mechanical College, the Board of Supervisors for the University of Louisiana System, the Board of Supervisors of Louisiana State University and Agricultural and Mechanical College, or the Board of Supervisors of Community and Technical Colleges.

(3)"Corporation" means a nonprofit corporation which may be utilized to accomplish the purposes of this Part. The term "corporation" shall also include a limited liability company whose sole member is a nonprofit corporation.

(4)"Project" means improvements addressing deferred maintenance of public facilities including the complete renovation of buildings with significant deferred maintenance needs; utility infrastructure; drainage, street, sidewalk, and site infrastructure; the demolition of public facilities; and any other improvements to address deferred maintenance needs, to be financed as authorized and provided in this Part and R.S. 17:3361 et seq. The term "project" shall not include new buildings or building additions, other than minor additions required for code compliance or improved access to a public facility.

(5)"Public facility" or "public facilities" means buildings, equipment, utilities, site components, roads, and streets, and other permanent property or immovable property of the system under the supervision and control of the board.

(6)"System" means the Louisiana State University System, the University of Louisiana System, the Southern University System, or the Louisiana Community and Technical College System.

Acts 2024, No. 751, §1, eff. June 19, 2024.