Interpretation

In this Act“Belize City Fund” means the fund established under section 21 of the Belize City Council Act; “Council” means the Belize City Council constituted and established under section 3 of the Belize City Council Act; “debt” means debt of the Council including any monies owed or accruing in respect of a loan or any other extension of credit including an overdraft facility, bond, municipal paper, debenture, note or other security, any indirect obligation such as a guarantee, surety, underwriting or security issued and any other similar financial arrangement which creates a liability; “Holder” means a person in whose name Municipal Paper is registered and to whom a certificate of registration has been issued for the Municipal Paper; “Interest Reserve Fund” means the Belize City Interest Reserve Fund established in section 5 of this Act; “Minister” means the Minister with responsibility for finance; “Municipal Paper Proceeds” means any monies raised by the issue of Municipal Paper; Belize City Council (Municipal Paper)[CAP. 85:02 5 “Municipal Paper” means municipal paper issued by the Belize City Council from time to time having a maturity period of no more than twelve months; and “Municipal Paper Fund” means the Belize City Municipal Paper Fund established in section 3 of this Act.