§ 17-401. Definitions.

When used in this article, the following terms shall have the following meanings, unless the context clearly otherwise requires:

Available revenues shall mean all ad valorem and non-ad valorem revenues of the county which are legally available to make lease payments.

Board of county commissioners shall mean the board of county commissioners of Orange County, Florida.

Certificates shall mean certificates of participation issued by a trustee pursuant to a trust agreement, the proceeds from the sale of which shall be used to finance the acquisition, construction and installation of a project. The certificates shall represent an interest in the obligation of the county to make payments under a lease.

County shall mean Orange County, Florida, a political subdivision of the State of Florida.

Lease shall mean a lease-purchase agreement which may be entered into between the county and a lessor in accordance with the terms hereof and of the resolution of the board of county commissioners approving the same.

Lease revenue bonds shall mean obligations issued by a lessor pursuant to a trust agreement to finance the acquisition, construction and installation of a project.

Lessor shall mean an entity which acts as lessor of a project or projects pursuant to the terms of a lease.

Obligations shall mean the certificates and lease revenue bonds.

Prior use property shall mean property owned or leased by the county which is purchased by a lessor and leased to the county pursuant to the terms and provisions of a lease.

Project shall mean any land, interests in land, equipment, buildings and other property, including any prior use property, to be purchased by, or on behalf of, a lessor with proceeds from the sale of obligations and leased to the county pursuant to the terms of a lease.

Trust agreement shall mean a trust agreement relating to a lease program which may be entered into among a trustee and a lessor (and the county in the case of certificates) in accordance with the terms hereof and of the resolution of the board of county commissioners approving the same.

Trustee shall mean an entity which shall be hereafter designated by resolution of the board of county commissioners to act as a trustee pursuant to the terms of a trust agreement.

The words "herein," "hereunder," "hereby," "hereto," "hereof," and any similar terms shall refer to this article. Words importing the singular number include the plural number, and vice-versa.

(Ord. No. 90-28, § 1, 12-3-90)