49-17A-1. Definition of terms.

185 words·~1 min read·/sd/title-49/chapter-49-17/49-17a-1

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Terms used in this chapter, unless the context plainly otherwise requires, mean:

(1)"Bonds," any bonds, notes, interim certificates, debentures, or similar obligations issued by an authority pursuant to this chapter;

(2)"Governing body," the official or officials authorized by law to exercise ordinance making or other lawmaking powers of a political subdivision;

(3)"Political subdivision," or "subdivision," any county, municipality, or other body politic of this state;

(4)"Project," any railroad or related facilities operated or owned by an authority, including all real and personal property, structures, machinery, equipment and appurtenances or facilities which are part of such railroad and useful in connection therewith, including facilities for the convenience of handling passengers and freight or as part of railroad operations;

(5)"Railroad authority" or "authority," any authority created pursuant to the provisions of this chapter;

(6)"Real property," lands, structures and interests in land, including lands under water and riparian rights, including any and all lesser interests, such as easements, rights of way, uses, leases, licenses, and all other incorporeal hereditaments and every estate, interest or right, legal or equitable, pertaining to real property.