2006 Minnesota Statutes

116R.01 DEFINITIONS.
    Subdivision 1. Application. The definitions in this section apply to sections 116R.01 to
116R.16.
    Subd. 2. Bonds. "Bonds" means the bonds authorized under section 116R.02, subdivision 1,
or bonds issued to refund these bonds, except for deficiency bonds.
    Subd. 3. Commissioner. "Commissioner" means the commissioner of finance.
    Subd. 4. Corporate headquarters. "Corporate headquarters" means the principal office
from which the business of the corporation is conducted and the principal office of the chief
executive officer of the corporation.
    Subd. 5. Deficiency bonds. "Deficiency bonds" means the bonds authorized under section
116R.13, subdivision 3, or bonds issued to refund these bonds.
    Subd. 6. Project. "Project" means the facilities or any property described in section 116R.02,
subdivision 5 or 6, as applicable.
    Subd. 7. Related person. "Related person" means any guarantor of the obligations of the
lessee under the lease of a project and any other person whose relation to the lessee or the
guarantor is that of a related person as defined in section 147 (a)(2) of the Internal Revenue
Code of 1986, as amended through December 31, 1990, and whose financial condition the
commissioner determines to be material for the purposes of carrying out the due diligence duties
under section 116R.02.
    Subd. 8. State guaranteed bonds. "State guaranteed bonds" means all outstanding bonds
secured as provided in section 116R.02, subdivision 4, paragraph (a).
    Subd. 9. Cash collateral. "Cash collateral" means cash or securities issued or unconditionally
guaranteed as to payment of principal and interest by the United States of America and maturing
or callable at the option of the holder within two years.
History: 1991 c 350 art 1 s 1; 1993 c 13 art 1 s 24