The following words and phrases, whenever used in this chapter, shall have the following respective meanings, unless the context clearly indicates otherwise:
- (1) AUTHORITY. A corporation organized pursuant to the provisions of this chapter.
- (2) BOARD. The board of directors of the authority.
- (3) BOND. Any bond issued under the provisions of this chapter, including refunding bonds.
- (4) COUNTY. That county in which the certificate of incorporation of the authority shall be filed for record.
- (5) COUPON. Any interest coupon evidencing an installment of interest payable with respect to a bond.
- (6) FISCAL YEAR. A fiscal year of the municipality.
- (7) GOVERNING BODY. The council, board of commissioners, or other like body in which the legislative functions of the municipality are vested by law.
- (8) INDENTURE. A mortgage, an indenture of mortgage, deed of trust or trust indenture executed by the authority as security for any bonds.
- (9) LEASE AGREEMENT. Any agreement of lease respecting the project or any part thereof which is made pursuant to the provisions of this chapter.
- (10) MUNICIPALITY. That incorporated city or town in the state which authorized the organization of the authority.
- (11) PROJECT. One or more buildings located or to be located within the municipality or within its police jurisdiction and designed for use as a public library, branch library, and related public library facilities and any equipment and lands necessary therefor.
- (12) STATE. The State of Alabama.
(Acts 1961, No. 895, p. 1407, §2; Acts 1961, Ex. Sess., No. 289, p. 2335, §2.)