WILLIAM DONALD SCHAEFER, Governor                   Ch. 246

SPECIALIZED ACADEMIC FACILITY; SUCH FACILITIES SHALL INCLUDE (BUT
SHALL NOT BE LIMITED BY TYPE OR CLASS OR OTHERWISE TO) HOUSING
FACILITIES, EATING FACILITIES, RECREATIONAL FACILITIES, CAMPUS
INFIRMARIES, PARKING FACILITIES, ATHLETIC FACILITIES, STUDENT
UNION OR ACTIVITY FACILITIES, LABORATORY FACILITIES, TESTING
FACILITIES, AND ANY RELATED OR INCIDENTAL FACILITY OR ANY
COMBINATION OF SUCH FACILITIES.

(C) "AUXILIARY FACILITIES FEES" MEANS INCOME, FEES, RENTS,
CHARGES, AND REVENUES ARISING FROM THE USE OF ANY AUXILIARY
FACILITIES.

(D) "BOARD" MEANS THE BOARD OF REGENTS OF THE UNIVERSITY OF
MARYLAND SYSTEM, BOARD OF REGENTS OF MORGAN STATE UNIVERSITY, OR
THE BOARD OF TRUSTEES OF ST. MARY'S COLLEGE OF MARYLAND.

(E) "BONDS" MEANS REVENUE BONDS, CERTIFICATES, NOTES,
DEMAND NOTES, COMMERCIAL PAPER, OR OTHER EVIDENCES OF
INDEBTEDNESS AND SHALL ALSO INCLUDE BOND ANTICIPATION NOTES.

(F) "CAPITAL LEASE" MEANS ANY LEASE FINANCING OF REAL
PROPERTY WHICH BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES IS
DEFINED AS A CAPITAL LEASE. FOR THE PURPOSES OF THIS TITLE, REAL
PROPERTY DOES NOT INCLUDE FIXTURES.

(G) "COSTS" AS APPLIED TO ANY PROJECT MEANS ALL COSTS IN
RESPECT OF THE PROJECT, INCLUDING (WITHOUT LIMITATION):

(1) THE COST OF ACQUISITION, CONSTRUCTION,
RECONSTRUCTION, EQUIPPING, MAINTENANCE, REPAIR, RENOVATION, AND
OPERATION;

(2) THE COST OF ACQUISITION OF ALL LAND,
RIGHTS-OF-WAY, PROPERTY RIGHTS, EASEMENTS, AND INTERESTS ACQUIRED
BY A SYSTEM;

(3) THE COST OF ALL MACHINERY AND EQUIPMENT;

(4) FINANCING CHARGES AND INTEREST PRIOR TO AND
DURING CONSTRUCTION AND FOR 1 YEAR AFTER COMPLETION OF
CONSTRUCTION;

(5) THE COST OF ARCHITECTURAL, ENGINEERING, AND LEGAL
EXPENSES, PLANS, SPECIFICATIONS, FEASIBILITY STUDIES, SURVEYS,
ESTIMATES OF COSTS AND REVENUE, AND OTHER EXPENSES NECESSARY OR
DESIRABLE FOR DETERMINING THE FEASIBILITY OR PRACTICABILITY OF
CONSTRUCTION OF ANY PROJECT;

(6) RESERVES FOR THE PAYMENT OF DEBT SERVICE,
OPERATING RESERVES, AND REPAIR AND REPLACEMENT FUNDS; AND

(7) ADMINISTRATIVE EXPENSES, AND OTHER EXPENSES
NECESSARY OR ALLOCABLE TO ANY PROJECT, THE FINANCING OR

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