(1) "Authority" means the political subdivision and body corporate called the university of Colorado hospital authority created by this part 5.

(2) "Board of directors" means the board of directors of the authority.

(3) "Health sciences schools" means the schools of medicine, dentistry, nursing, pharmacy, and any other schools operated by the regents of the university of Colorado at the university health sciences center.

(4) "Hospital assets" means all property or rights in property, real and personal, tangible and intangible existing on the transfer date under this part 5, used by or accruing touniversity hospital in the normal course of its operations as a teaching, research, and medical treatment facility.

(5) "Hospital liabilities" means all debts or other obligations, contingent or certain, owing on the transfer date under this part 5 to any person or other entity arising out of the operation of university hospital as a medical treatment facility, and including, without limitation, all debts for the purchase of goods and services, whether or not delivered, and obligations for the delivery of services, whether or not performed.

(6) "Part 4 corporation" means the nonprofit-nonstock corporation created on July 24, 1989, to operate university hospital.

(7) "PERA" means the public employees' retirement association created in part 2 of article 51 of title 24, C.R.S.

(8) "Regents" means the board of regents of the university of Colorado.

(9) "State employee" means a person employed by the state whether or not a classified employee in the state personnel system.

(10) "Transfer date under this part 5" or "authority's transfer date" means a date agreed to by the regents and the authority for the transfer of hospital assets to and the assumption of hospital liabilities by such authority.

(11) "University hospital" means the hospital and clinics created and operated by the regents of the university of Colorado under section 5 of article VIII of the Colorado constitution.