As used in this part 7, unless the context otherwise requires: (1) "Additional financed purchase of an asset or certificate of participation agreement" means any transaction entered into on or after July 1, 1987, in which the state, acting by and through the department of personnel as provided by this part 7, is the lessee of real or personal property, which shall be used by the state and in which the state has an option to purchase such real or personal property. (2) "Director" means the executive director of the department of personnel. (3) "Existing financed purchase of an asset or certificate of participation agreement" means any financed purchase of an asset or certificate of participation agreement entered into prior to July 1, 1987, in which the state is the lessee of real or personal property which shall be used by the state and in which the state has an option to purchase such real or personal property. (3.3) "Financed purchase of asset" means a financing agreement that includes the purchase of an asset. (3.5) Repealed. (4) "Master financing program" means the refinancing, revising, replacement, or consolidation of any existing or additional financed purchase of an asset or certificate of participation agreement or agreements. (5) "State" means the state of Colorado or any department, agency, or commission thereof, including any state institution of higher education and the board of directors of the Auraria higher education center, but does not include the legislative department when acting pursuant to section 2-2-320 (2)(b), C.R.S.
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