Code of Massachusetts Regulations
801 CMR - EXECUTIVE OFFICE FOR ADMINISTRATION AND FINANCE
Title 801 CMR 56.00 - Nonprofit Community Hospitals And Nonprofit Community Health Centers Moral Obligation Bond Financing
Section 56.02 - Definitions

For the purposes of 801 CMR 56.00, the following terms shall have the meanings prescribed unless otherwise noted.

Agency shall mean the Massachusetts Development Finance Agency established by M.G.L. c. 23G.

A&F Secretary shall mean the Secretary of Administration and Finance.

Borrower shall mean a nonprofit community hospital or nonprofit community health center that seeks financing under St. 1968, c. 614, § 10, as amended by St. 2011, c. 9, §21.

Community Hospital and Community Health Center Capital Reserve Fund or Fund shall mean a fund established by St. 1968, c. 614, § 10, subsection (g)(1), as amended by St. 2011, c. 9, § 21.

HHS Secretary shall mean the Secretary of Health and Human Services.

Intercept Agreement shall mean written agreement between the borrower and the Commonwealth which sets forth the terms and conditions of the withholding by the state comptroller (Comptroller) of a payment due by the Commonwealth to the borrower under St. 1968, c. 614, § 10, subsection (g)(8).

Moral Obligation Bond shall mean a bond issued by the Agency for the benefit of a nonprofit community hospital or nonprofit community health center and which is secured by a Community Hospital and Community Health Center Capital Reserve Fund.

Moral Obligation Bond Issuance Fee shall mean a fee payable by the borrower to the Agency upon the issuance of a moral obligation bond for the Agency's role as the issuer of the moral obligation bond. The amount of this fee shall be determined by the Agency in accordance with the fee schedule it customarily uses in connection with the issuance of bonds.

Nonprofit Community Health Center and Nonprofit Community Hospital shall mean a community health center as defined in 101 CMR 613.02: Community Health Center, which operates as either a community health center or a hospital licensed health center, but shall not include a hospital where the ratio of the number of physician residents-in-training to the number of inpatient beds exceeds 0.25.

Preliminary Project Proposal shall mean a proposal submitted in accordance with 801 CMR 56.05.

Project shall mean:

(a) the maintenance, repair or renovation of existing buildings, structures, or other infrastructure owned by a nonprofit community health center or nonprofit community hospital;

(b) the construction of new buildings, structures or other infrastructure to be owned by a nonprofit community health center or nonprofit community health center; or

(c) the acquisition of equipment. A project may also include the costs associated with the purchase and preparation of land in connection with 801 CMR 56.02: Project (a) and (b).

Project Proposal shall mean a proposal submitted in accordance with 801 CMR 56.07 and 56.08.