The following definitions apply to this article: (a) âEquipmentâ means rail passenger cars, locomotives, other rail vehicles, bus and van fleets, and ferryboats. (b) âEquipment obligationsâ 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) âGrant anticipation notesâ 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) âPassenger rail capital improvementsâ includes, but is not limited to, crossings, stations, parking facilities, trackwork, maintenance facilities, and other similar facilities.
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