Arizona Revised Statutes Title 41. State Government § 41-5851. Definitions

1. “Achievement district school” means a public school or a charter school that has qualified as an achievement district school pursuant to article 10 of this chapter  1 and that has submitted an application with the board pursuant to this article to obtain guaranteed financing.

2. “Board” means the credit enhancement eligibility board established by § 41-5852.

3. “Fund” means the Arizona public school credit enhancement fund established by § 41-5854.

4. “Guaranteed financing” means debt obligations that are issued by or on behalf of a public school or a charter school to acquire, construct, renovate, equip, refinance or improve capital facilities and for which the board has approved a guarantee of all or a portion of the principal and interest payments pursuant to the program.

5. “Program” means the Arizona public school credit enhancement program established by § 41-5855.

6. “Program funding obligations” means program funding obligations approved and issued by the board pursuant to § 41-5857.

7. “Program leverage ratio” means the ratio at any time between the aggregate principal amount of guaranteed financings outstanding and the amounts on deposit in the fund.