As used in this article:

1. (a) An "air carrier hub terminal facility" is an airport terminal facility from which an air carrier certified or licensed by the Federal Aviation Administration shall or will, within five years from the date of issuance of the obligations described herein, operate either:

   1. (1) at least twenty common carrier departing flights a day on which the general public may fly seven days a week, fifty-two weeks a year. No less than seventy percent of all seats on these aircraft arriving at or departing from an air carrier terminal facility must be on jet aircraft capable of carrying at least one hundred passengers on each flight; or
   2. (2) at least twenty common carrier departing flights a week on an annual basis for the purposes of transporting cargo and air freight.
2. (b) An "air carrier" is a corporation licensed by the Federal Aviation Administration with a certificate of public convenience and necessity or an operating certificate under other applicable federal law or pertinent regulations which operates aircraft in common carrier service and serves an air carrier hub terminal facility as defined in this section.
3. (c) "Board" means the State Budget and Control Board.
4. (d) "Bonds" mean general obligation bonds of this State.