§ 14060 Equipment Financing Definitions

The following definitions apply to this article: (a) “Equipment” means rail passenger cars, locomotives, other rail vehicles, bus and van fleets, and ferryboats. (b) “Equipment obligations” means notes, equipment trust certificates, or other obligations, including grant anticipation notes, issued by the department pursuant to this article to finance the acquisition of equipment. (c) “Grant anticipation notes” means notes issued by the department in anticipation of the receipt of funds from the federal or a local government as the proceeds of grants or participation funding for which funds have been appropriated and committed to the department for equipment acquisition. (d) “Passenger rail capital improvements” includes, but is not limited to, crossings, stations, parking facilities, trackwork, maintenance facilities, and other similar facilities. (Amended by Stats. 1988, Ch. 914, Sec. 4.)