(1) "Education facilities" means real or personal property owned or operated by an educational institution and used to provide post-secondary education. "Education facilities" includes administrative offices, student and staff parking and on-campus dormitories, but does not include property used for sectarian instruction nor used primarily as a place of religious worship or as a part of a program of a school or department of divinity for any religious denomination or for the religious training of ministers, priests, rabbis or other similar persons in the field of religion.
(2) "Education facilities costs" means all costs of acquiring, constructing and improving education facilities, and capitalized interest, reserves, costs of credit enhancements and costs of issuing and paying revenue bonds.
(3) "Education facility revenues" means repayments of loans authorized by ORS 350.675 (3), and any moneys derived from rights or property that are security for such a loan.
(4) "Educational institution" means any nonprofit institution located in this state that grants post-secondary degrees and is accredited by the Northwest Commission on Colleges and Universities or its successor, or affiliated nonprofit foundations whose role is to further the mission of qualified institutions.
(5) "Municipality" means any city or county.
(6) "Revenue bond" means a revenue bond as defined in ORS 287A.001 that is issued by a municipality pursuant to ORS 350.665 to 350.695. [Formerly 352.790]
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