As used in this title, the following terms have the following meanings: (a) (1) âAccumulated state budget deficitâ has the same meaning as in Section 1.3 of Article XVI of the California Constitution. (2) The amount referred to in paragraph (1) shall be as certified by the Director of Finance. (b) âAncillary obligationâ means an obligation of the state entered into in connection with any bonds issued under this title, including the following: (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) âCommitteeâ means the Economic Recovery Financing Committee created pursuant to Section 99055. (d) âFundâ means the Economic Recovery Fund created pursuant to Section 99060. (e) âResolutionâ means any resolution, trust agreement, indenture, certificate, or other instrument authorizing the issuance of bonds pursuant to this title and providing for their security and repayment. (f) 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, the term means the trustee for each issue of bonds, respectively. If there are cotrustees for an issue of bonds, âtrusteeâ means those cotrustees collectively.
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