Sec. 39.1. Definitions

For purposes of this Part:

(a) Cost of financing shall mean the total payments of principal and interest estimated to become payable pursuant to an installment purchase contract or due on indebtedness, as the case may be, together with any estimated actual and necessary expenses incurred in connection with the execution of such installment purchase contract or the issuance of such indebtedness to the extent such expenses are not included in the periodic payments to be made under the installment purchase contract or paid from the proceeds of the indebtedness.

(b) Evaluation of financing alternatives shall mean the evaluation prepared pursuant to section 39.2 of this Part.

(c) Indebtedness shall mean bonds or notes issued in accordance with the Local Finance Law.

(d) Political subdivision, capital improvement, installment purchase contract and certificate of participation shall have the meanings ascribed to them by paragraphs (a) through (d) inclusive of subdivision (1) of section 109-b of the General Municipal Law.

(e) Pooled or aggregate program shall mean any program under which certificates of participation are issued and represent a proportionate interest or the right to receive a proportionate share in lease, rental, installment or other periodic payments made or to be made by a political subdivision and one or more parties, other than the political subdivision, pursuant to installment purchase contracts.

(f) Private sale shall mean any sale of certificates of participation, other than a public sale, conducted by a political subdivision.

(g) Public sale shall mean any sale of certificates of participation conducted by a political subdivision pursuant to section 39.6 of this Part.