Nongovernmental Person definition
Examples of Nongovernmental Person in a sentence
Except as would not cause any Tax-Exempt 2022 Bond to become a “private activity bond” within the meaning of section 141 of the Code and the Tax Regulations and rulings thereunder, the Authority and the City shall not use Gross Proceeds of any Tax-Exempt 2022 Bond to make or finance loans to any Nongovernmental Person.
For purposes of this section, the federal government is considered a Nongovernmental Person.
Any use of the Project pursuant to a special legal entitlement conferred on a Nongovernmental Person, such as an ownership interest, a lease, a management or incentive payment contract, certain research agreements or a take or pay or other output-type contract, is a private business use unless an exception applies.
The City understands that an arrangement with any person or organization (other than a state or local governmental unit) which provides for such person or organization to manage, operate, maintain or provide services with respect to the Facility (a “Service Contract”) can give rise to use by a Nongovernmental Person that is subject to the limitations of Section 5.01(f) of this Agreement.
The leasing of property financed or refinanced with the proceeds of the Series 2016B Bond to a Nongovernmental Person or the access by a Nongovernmental Person to property or services on a basis other than as a member of the general public constitutes Private Use unless the Borrower obtains an opinion of Bond Counsel to the contrary.