7-6-1101. Definitions. As used in this part, unless the context clearly requires otherwise, the following definitions apply:

(1) "Governing body" means the legislative authority of a local government, by whatever name designated.

(2) "Gross proceeds obligations" are tax anticipation notes or revenue anticipation notes that mature at a time not to exceed 5 years from the date issued and are secured by the collection of certain coal gross proceeds taxes, interest, and penalties pursuant to 15-23-708.

(3) "Local government" means any city, town, county, consolidated city-county, or school district.

(4) "Ordinance" means an ordinance or resolution of the local government.

(5) "Short-term obligations" are tax anticipation notes or revenue anticipation notes that mature at a time not to exceed 13 months from the date issued.