Sec. 2607.2. Definitions

(a) Unless defined herein, terms used in this Part shall have the meaning set forth under sections 1281 and/or 1285-r of the Public Authorities Law (PAL). Terms used in this Part or to be used in complying with this Part have the following meanings:

(1) Act means the New York State Environmental Facilities Corporation Act, constituting title 12 of article 5 of the PAL, as amended and as may be amended.

(2) Allowable costs means all costs of an eligible project which the corporation determines are properly allocable to that project in accordance with applicable laws and regulations.

(3) Application means a completed instrument on a form approved by the corporation.

(4) Bond means any instrument of indebtedness issued by the corporation to provide funding for a project.

(5) Bond purchaser means any lender as that term is defined in section 1285-r of the PAL.

(6) Commissioner means the commissioner of the New York State Department of Agriculture and Markets.

(7) Corporation means the New York State Environmental Facilities Corporation, or its successor, unless otherwise indicated.

(8) Department means the New York State Department of Agriculture and Markets.

(9) Eligible project means project as that term is defined in PAL section 1285-r.

(10) Loan means any loan made by the corporation to a beginning farmer.

(11) New York Beginning Farmer Loan Program (NYBFLP) means the program for providing State assistance loans for eligible projects established pursuant to section established pursuant to section 1295-r of the PAL.

(12) Note means any instrument of indebtedness issued by a beginning farmer to the corporation or bond purchaser.

(13) President means the president of the New York State Environmental Facilities Corporation.

(14) State means the State of New York.