The following words or terms used in this act shall have the following meanings unless a different meaning clearly appears from the context:
- (a) "Bonds" means any bonds, notes or other evidences of indebtedness, including book-entry-only, whether or not the interest on such bonds is subject to federal income taxation, issued pursuant to the authority of this act.
- (b) "Secretary" means the secretary of transportation.
- (c) "Book-entry-only" means a system of electronic clearance, settlement and transfer of security ownership without the use of securities certificates.
L. 1989, ch. 209, § 6; July 1.