§ 159D-3. Definitions.
§ 159D-3. Definitions.
The following terms, wheneverused or referred to in this Article, shall have the following respectivemeanings, unless a different meaning clearly appears from the context:
(1) "Agency"means the North Carolina Capital Facilities Finance Agency, an agency of theState created pursuant to G.S. 159D-38 of the North Carolina Capital FacilitiesFinance Act, codified as Article 2 of this Chapter.
(2) "Air pollutioncontrol facility" shall mean any structure, equipment or other facility for,including any increment in the cost of any structure, equipment or facilityattributable to, the purpose of treating, neutralizing or reducing gaseousindustrial waste and other air pollutants, including recovery, treatment,neutralizing or stabilizing plants and equipment and their appurtenances, whichshall have been certified by the agency having jurisdiction to be infurtherance of the purpose of abating or controlling atmospheric pollutants orcontaminants.
(3) "Authority"shall mean The North Carolina Industrial and Pollution Control FacilitiesFinancing Authority, a political subdivision and body politic of the State,created pursuant to the provisions of this Article.
(4) "Bonds"shall mean revenue bonds issued under the provisions of this Article.
(4a) "Code"means the Internal Revenue Code of 1986, as amended.
(5) "Cost" asapplied to any project shall embrace all capital costs thereof, including thecost of construction, the cost of acquisition of all property, including rightsin land and other property, both real and personal and improved and unimproved,the cost of demolishing, removing or relocating any buildings or structures onlands so acquired, including the cost of acquiring any lands to which suchbuildings or structures may be moved or relocated, the cost of all machineryand equipment, installation, start-up expenses, financing charges, interestprior to, during and for a period not exceeding one year after completion ofconstruction, the cost of engineering and architectural surveys, plans andspecifications, the cost of consultants and legal services, other expensesnecessary or incident to determining the feasibility or practicability of suchproject, administrative and other expenses necessary or incident to theacquisition or construction of such project and the financing of theacquisition and construction thereof, including a reserve for debt services.
(6) Repealed by SessionLaws 2000, c. 179, s. 2, effective July 1, 2000.
(7) "Financingagreement" shall mean a written instrument establishing the rights andresponsibilities of the agency and the operator with respect to a projectfinanced by the issue of bonds.
(8) "Governingbody" shall mean the board, commission, council or other body in which thegeneral legislative powers of any county or other political subdivision arevested.
(9) "Obligor"shall mean collectively the operator and any others (including, but not by wayof limitation, any other person, collateral device or fund that shall beobligated to pay) who or which shall be obligated under a financing agreementor guaranty agreement or other contract or agreement to make payments to, orfor the benefit of, the holders of bonds of the agency. Any requirement of anobligor may be satisfied by any one or more persons who are definedcollectively by this Article as the obligor.
(10) "Operator"shall mean the person entitled to the use or occupancy of a project.
(11) "Politicalsubdivision" shall mean any county, city, town, other unit of localgovernment or any other governmental corporation, entity, authority orinstrumentality of the State now or hereafter existing.
(12) "Pollution andpollutants" shall mean any noxious or deleterious substances in any air orwaters of or adjacent to the State of North Carolina or affecting the physical,chemical or biological properties of any air or waters of or adjacent to theState of North Carolina in a manner and to an extent which renders or is likelyto render such air or waters harmful or inimical to the public health, safetyor welfare, or to animal, bird or aquatic life, or to the use of such air orwaters for domestic, industrial or agricultural purposes or recreation.
(13) "Project"means any land, equipment or any one or more buildings or other structures,whether or not on the same site or sites, and any rehabilitation, improvement,renovation or enlargement of, or any addition to, any building or structure foruse as or in connection with (i) any industrial project, which may be anindustrial or manufacturing factory, mill, assembly plant, fabricating plant,freight terminal, industrial research, development or laboratory facility,industrial processing facility for industrial or manufactured products, afacility used in the manufacturing or production of tangible personal property,a facility used in the creation or production of intangible property asdescribed in section 197(d)(1)(C)(iii) of the Code, or a distribution facilityfor industrial or manufactured products, or (ii) any pollution control projectfor industry which project may be any air pollution control facility, waterpollution control facility, or solid waste disposal facility in connection withany factory, mill, plant, terminal or facility described in clause (i) of thissubdivision, or (iii) any combination of projects mentioned in clauses (i) and(ii) of this subdivision. Any project may include all appurtenances andincidental facilities such as land, headquarters or office facilities,warehouses, distribution centers, access roads, sidewalks, utilities, railway sidings,trucking and similar facilities, parking facilities, landing strips and otherfacilities for aircraft, waterways, docks, wharves and other improvementsnecessary or convenient for the construction, maintenance and operation of anybuilding or structure, or addition thereto.
(14) "Revenues"shall mean, with respect to any project, the rents, fees, charges, payments,proceeds and other income or profit derived therefrom or from the financingagreement or security document in connection therewith.
(15) "Securitydocument" shall mean a written instrument or instruments establishing therights and responsibilities of the agency and the holders of bonds issued tofinance a project, and may provide for, or be in the form of an agreement with,a trustee for the benefit of such bondholders. A security document may containan assignment, pledge, mortgage or other encumbrance of all or part of theagency's interest in, or right to receive revenues with respect to, a projectand any other property provided by the operator or other obligor under afinancing agreement and may bear any appropriate title. A financing agreementand a security document may be combined as one instrument.
(16) "Solidwaste" shall mean solid waste materials resulting from any industrial ormanufacturing activities or from any pollution control facility.
(17) "Solid wastedisposal facility" shall mean a facility for the purpose of treating,burning, compacting, composting, storing or disposing of solid waste.
(18) "Water pollutioncontrol facility" shall mean any structure, equipment or other facilityfor, including any increment in the cost of any structure, equipment orfacility attributable to, the purpose of treating, neutralizing or reducingliquid industrial waste and other water pollution, including collecting,treating, neutralizing, stabilizing, cooling, segregating, holding, recycling,or disposing of liquid industrial waste and other water pollution, includingnecessary collector, interceptor, and outfall lines and pumping stations, whichhas been certified by the entity exercising jurisdiction to be in furtheranceof the purpose of abating or controlling water pollution. (1977, 2nd Sess., c. 1198, s. 1; 1987, c. 517, ss. 4, 4.1;2000-179, s. 2; 2009-140, s. 8.)