253.210. Definitions.
Definitions.
253.210. As used in sections 253.210 to 253.280, unless thecontext clearly requires otherwise:
(1) "Net income and revenues" means the income arising fromthe operation of a project remaining after providing for thecosts of operation of the project and the cost of maintaining it;
(2) "Project" means one or more hotels, inns, lodges,tourist cabins, or dining rooms or any combination of hotel, inn,lodge, and dining room facilities or one or more recreationalbuildings, historic sites or combination of hotel, inn, lodge,tourist cabins, dining rooms and recreational facilities orhistoric sites; provided, a given project shall be limited to asingle park;
(3) "Revenue bonds" means bonds issued hereunder for thepurposes authorized and payable, both as to principal andinterest, (a) solely out of the net income and revenues arisingfrom the operation of the project for which the bonds are issued,(b) the moneys authorized for expenditure by the department ofnatural resources in section 253.090 by the allocation of a sumnot to exceed fifty percent of the preceding fiscal year'sdeposits in the state park earnings fund, (c) any revenues of thepark in which the project is located, (d) the proceeds of anygrant in aid of the project which may be received from anysource, or (e) out of any other income or revenue pledged to thepayment of the bonds in accordance with the provisions of section253.230.
(L. 1957 p. 300 § 1, A.L. 1961 p. 231)