As used in this article, unless the context otherwise requires: (1) "Bond" means any bond, note, certificate, contract, or obligation for the repayment of borrowed money of the trust fund board authorized by this article. (1.5) "Net lottery proceeds" means the proceeds of the lottery after the payment of the expenses of the state lottery division and any prizes for the lottery and after a sufficient amount of money has been reserved, as of the end of any fiscal quarter, to ensure the operation of the lottery for the ensuing fiscal quarter. (2) "State agency" means: The state; every executive department, board, commission, committee, bureau, and office of the state; every state institution of higher education, whether established by the state constitution or by law, and every governing board thereof; and every independent commission and other political subdivision of the state government. However, such term does not include the state board of the great outdoors Colorado trust fund. (3) "Trust fund" means the great outdoors Colorado trust fund created pursuant to section 2 of article XXVII of the state constitution. (4) "Trust fund board" means the state board of the great outdoors Colorado trust fund established pursuant to section 6 of article XXVII of the state constitution.
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