Whenever used in this subpart:

“Appropriation” means moneys appropriated or allocated by the legislature to the board, the university, any university project, any university system, any network, or any combination thereof, from any revolving or special fund that consists of rates, rentals, and charges, or user taxes, which is permitted to be expended for the cost of construction, cost of maintenance, debt service on revenue bonds, or any combination thereof.

“Board” or “board of regents” means the board of regents of the University of Hawaii, which is hereby declared to be a public corporation.

“Construction” or “construct” includes acquisition, purchase, planning, construction, reconstruction, remodeling, renovation, improvement, betterment, and extension.

“Cost of construction” includes all costs and estimated costs related to construction, including but not limited to:

(1) All costs and estimated costs of the preparation and issuance of revenue bonds and the obtaining of a loan;

(2) Costs of land acquisition;

(3) All costs and estimated costs related to construction of a university project, university system, network, or any combination thereof, including engineering, architectural, supervisory, inspection, fiscal, administrative, travel, and clerical fees, costs, and expenses;

(4) Interest estimated to accrue during the construction period and for six months thereafter on money obtained by loan or through the issuance of revenue bonds;

(5) Moneys necessary to establish or increase reserves;

(6) Costs of utilities, equipment, fixtures, and apparatus necessary or convenient for the use and occupancy of the university project, university system, or network or any combination thereof; and

(7) The initial furnishings of the university project, university system, or network, or any combination thereof in the determination of the board.

“Cost of maintenance” includes all costs or estimated costs of the maintenance of a university project, university system, or network or any combination thereof; including but not limited to salaries, wages, and fees of officers, employees, and contractors of the board engaged in the maintenance of a university project, university system, or network or any combination thereof, the cost of all supplies and equipment, and all operational and administrative expenses.

“CUSIP” means the numbering system adopted by the Committee for Uniform Security Identification Procedures formed by the Securities Industry Association.

“Maintenance” or “maintain” includes repairs, upkeep, replacement, renewals, maintenance, operation, and administration.

“Network” means two or more university projects, university systems, or university projects and university systems that, at the election of the board, are combined into a single network. A network may include various university projects in any one or more of the areas under the jurisdiction of the board.

“Reserves” means reserves required or permitted in the covenants in the resolution or resolutions of the board authorizing the obtaining of loans or issuance of revenue bonds under this subpart.

“Revenue bonds” means revenue bonds, interim certificates, commercial paper, notes, debentures, or other evidence of indebtedness of the board authorized by or issued under this subpart.

“Revenue of the university” means all income, receipts, revenue, and moneys of whatever nature received by the university, or that it is entitled to receive, from its ownership or operation and management of the university, including any appropriation, other than general appropriations or gifts the terms of which preclude their being used for payment of the cost of construction or cost of maintenance of a university project, a university system, or a network or any combination thereof.

“University” means the University of Hawaii, every community college established and governed by the board under this chapter, and any and every other educational institution under the jurisdiction of the board.

“University project” means any undertaking or improvement that is constructed or maintained by the university in furtherance of a university purpose. A university project includes, but is not limited to, land, fixtures, appurtenances, improvements, utilities, equipment, and furnishings necessary or convenient for the use and occupancy of a university project for the purposes for which it was constructed or is used.

“University system” means two or more university projects from which the university generates revenue of the university, other than appropriations, operated and maintained jointly as a system.