Whenever used in this title, unless a different meaning clearly appears from the context:
BOND ORDINANCE: Means an ordinance authorizing a specific issue of bonds adopted by the Corporate Authorities of the Village in accordance with the policies and procedures set forth in this chapter.
INDUSTRIAL PROJECT: Means any: a) capital project, including one or more buildings and other structures, improvements, machinery and equipment, whether or not on the same site or sites now existing or hereafter acquired, suitable for use by any manufacturing, industrial, research or commercial enterprise, including, but not limited to, use as a factory, mill, processing plant, assembly plant, packaging plant, fabricating plant, office building, industrial distribution center, warehouse, repair, overhaul or service facility, freight terminal, research facility, test facility, commercial facility and including also the sites thereof and other rights in land therefor whether improved or unimproved, site preparation and landscaping, and all appurtenances and facilities incidental thereto, such as utilities, access roads, railroad sidings, truck docking and similar facilities, parking facilities, dockage, wharfage and other improvements necessary or convenient thereto; or b) any land, buildings, machinery or equipment comprising an addition to, or renovation, rehabilitation or improvement of any existing capital project.
PERSON: Means any individual, partnership, co-partnership, limited partnership, firm, company, corporation, (including public utilities), not-for-profit corporation, association, joint stock company, trust, estate, political subdivision, State agency or any other legal entity, or organization of any kind, or their legal representatives, agents or assigns.
PROJECT: Means any industrial project.
PROJECT COSTS: Means and includes the sum total of all costs incidental to the acquisition, construction, reconstruction, repair, alteration, improvement and extension of a project including, without limitation: the costs of studies and surveys; plans, specifications, architectural, engineering, legal, marketing or other special services; financing, acquisition, demolition, construction, equipment and site development of new and rehabilitated buildings, rehabilitation, reconstruction, repair or remodeling of existing buildings and all other necessary and incidental expenses including an initial bond and interest reserve together with interest on bonds issued to finance the project to a date six (6) months subsequent to the date of completion.
REVENUE AGREEMENT: Means any lease, sales agreement, loan agreement, note, contract or other agreement with any user entered into in order to secure the Village's bonds; provided, however, that any such agreement must provide that such user shall pay to, for or on behalf of the Village, an amount sufficient to pay principal, interest, redemption premiums and any and all other costs in connection with projects financed and the Village's bonds so that such bonds will never constitute an indebtedness of the Village, or a loan of its credit within the meaning of any constitutional or statutory provision.
USER: Means the person or persons who will occupy, operate, maintain or employ the project after acquisition or construction thereof whether as owner, purchaser, lessee or otherwise.
VILLAGE: Means the Village of Willowbrook, DuPage County, Illinois, an Illinois Municipal corporation. (Ord. 85-O-27, 7-8-1985)