Unless the context requires otherwise, the following definitions shall govern the construction of this title: (a) âAccumulated budget deficitâ means the estimated negative balance, excluding any projected deficit financing proceeds, of the Special Fund for Economic Uncertainties as of June 30, 2003, as certified by the Director of Finance prior to the issuance of any bonds pursuant to this title. (b) âAncillary obligationâ means the obligation of the authority under any of the following, entered into by the authority in connection with any bonds issued under this title: (1) A credit enhancement or liquidity agreement, including any credit enhancement or liquidity agreement in the form of bond insurance, letter of credit, standby bond purchase agreement, reimbursement agreement, liquidity facility, or other similar arrangement. (2) A remarketing agreement. (3) An auction agent agreement. (4) A broker-dealer agreement or other agreement relating to the marketing of the bonds. (5) An interest rate or other type of swap or hedging contract. (6) An investment agreement, forward purchase agreement, or similar structured investment contract. (c) âAuthorityâ means the California Fiscal Recovery Financing Authority created by Section 99004. (d) âAvailable revenuesâ means the special sales tax revenues appropriated pursuant to this title by the Legislature to pay principal, interest, premium, if any, replenishment of reserves, and any related costs on the bonds issued pursuant to this title or to pay amounts relating to any ancillary obligations, together with any reserves or other amounts that have been deposited with the trustee to pay the bonds or to pay ancillary obligations and any investment earnings on any of those funds. Notwithstanding any other provision of law, the Legislature shall not be obligated to appropriate or otherwise make available any other funds to pay the bonds or to pay ancillary obligations. (e) âBoardâ means the State Board of Equalization. (f) âBondsâ means any bonds, notes, bond anticipation notes, interim certificates, debentures, or similar instruments issued by the authority pursuant to this title. (g) âFiscal Recovery Fundâ means the special fund created by Section 99008. (h) âIndentureâ means any resolution, trust agreement, indenture, certificate, or other instrument authorizing the issuance of bonds by the authority pursuant to this title, and providing for their security and repayment. (i) âSpecial sales tax revenuesâ means the proceeds of that portion of the sales and use tax temporarily imposed by the state pursuant to Section 6051.5 or 6201.5 of the Revenue and Taxation Code. (j) âTrusteeâ means the Treasurer or a bank or trust company within or without the state acting as trustee for any issue of bonds under this title and, if there is more than one issue of bonds, shall refer to the trustee for each issue of bonds respectively. In the event there are cotrustees for an issue of bonds, âtrusteeâ shall refer to those cotrustees collectively.
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