As used in this chapter:
(1) "board" means the board of trustees of the university;
(2) "equipment" means items with a useful life of at least fifteen years;
(3) "facilities" means the real and personal property and equipment specified in Section 59-147-20(2) of this chapter whether or not the acquisition or construction thereof is financed from the proceeds of bonds issued pursuant to this chapter;
(4) "revenues" means the revenues derived or to be derived from the operation, sale, lease, or other disposition of the facilities; and
(5) "university" means all research and four-year public institutions of higher education.
HISTORY: 1996 Act No. 302, Section 1.