20 U.S.C. § 1132c-1
Section 1132c-1 · Definitions
Amended 1 time on record
For the purposes of this part:
(1) The term “eligible institution” means a “part B institution” as that term is defined in section 1061(2) of this title.
(2) The term “loan” means a loan made to an eligible institution under the provisions of this part and pursuant to an agreement with the Secretary.
(3) The term “qualified bond” means any obligation issued by the designated bonding authority at the direction of the Secretary, the net proceeds of which are loaned to an eligible institution for the purposes described in section 1132c 2(b) of this title.
(4) The term “funding” means any payment under this part from the Secretary to the eligible institution or its assignee in fulfillment of the insurance obligations of the Secretary pursuant to an agreement under section 1132c 2 of this title.
(5) The term “capital project” means, subject to section 1132c 3(b) of this title the repair, renovation, or, in exceptional circumstances, the construction or acquisition, of—
(A) any classroom facility, library, laboratory facility, dormitory (including dining facilities) or other facility customarily used by colleges and universities for instructional or research purposes or for housing students, faculty, and staff;
(B) instructional equipment, research instrumentation, and any capital equipment or fixture related to facilities described in subparagraph (A);
(C) any other facility, equipment or fixture which is essential to the maintaining of accreditation of the member institution by a nationally recognized accrediting agency or association; and
(D) any real property or interest therein underlying facilities described in subparagraph (A) or (C).
(6) The term “interest” includes accredited value or any other payment constituting interest on an obligation.
(7) The term “outstanding”, when used with respect to bonds, shall not include bonds the payment of which shall have been provided for by the irrevocable deposit in trust of obligations maturing as to principal and interest in such amounts and at such times as will ensure the availability of sufficient moneys to make payments on such bonds.
(8) The term “designated bonding authority” means the private, for-profit corporation selected by the Secretary pursuant to section 1132c 4(1) of this title for the purpose of issuing taxable construction bonds in furtherance of the purposes of this part.
(9) The term “Advisory Board” means the Advisory Board established by section 1132c 6 of this title.
Editorial notes U.S. Code · Office of the Law Revision Counsel
Prior Provisions
A prior section 1132c 1, Pub. L. 89 329, title VII, §742, as added Pub. L. 92 318, title I, §161(a), June 23, 1972, 86 Stat. 295; amended Pub. L. 94 482, title I, §162(a)(3), (6), Oct. 12, 1976, 90 Stat. 2156, 2157, related to eligibility, conditions, amounts, and terms of loans for construction, reconstruction, and renovation of academic facilities, prior to the general revision of this subchapter by Pub. L. 96 374.