As used in this part 16, unless the context otherwise requires:
(1) "General obligation debt" means an obligation of a special district created by a resolution of the special district authorizing the issuance of bonds or a contract, the obligations of which are backed by a pledge of the full faith and credit of the special district and a covenant to impose mill levies without limit to retire the bonds or fund the contractual obligation.
(2) "Special district" shall have the same meaning as provided in section 32-1-103 (20).
Source: L. 92: Entire part added, p. 994, § 2, effective July 1.