In this subchapter, unless the context requires otherwise:
(1) "Commission" means the building commission.
(2) "Department" means the department of administration.
(3) "Evidence of operating note" means a written promise to pay an operating note.
(4) "Operating note" means every undertaking of the state to repay a certain amount of a financial obligation which is:
(a) Created for the purpose of funding operating deficits of the state as determined under s. 16.405 (1) , which must be repaid not later than the last day of the fiscal year during which the operating note is issued;
(b) Payable from and secured solely by revenues pledged by the commission and the department pursuant to the authorizing resolution provided that all such pledged revenues must first be available for the payment of public debt; and
(c) Not public debt under s. 18.01 (4) nor a revenue obligation under s. 18.52 (5) .
(5) "Public debt" or "debt" has the meaning given under s. 18.01 (4) .