(64)__"Proceeds" means the following property:

(a)__Whatever is acquired upon the sale, lease, license, exchange or other disposition of collateral;

(b)__Whatever is collected on or distributed on account of collateral;

(c)__Rights arising out of collateral;

(d)__To the extent of the value of collateral, claims arising out of the loss, nonconformity or interference with the use of, defects or infringement of rights in or damage to the collateral; or

(e)__To the extent of the value of collateral and to the extent payable to the debtor or the secured party, insurance payable by reason of the loss or nonconformity of, defects or infringement of rights in or damage to the collateral.

(65)__"Promissory note" means an instrument that evidences a promise to pay a monetary obligation, does not evidence an order to pay and does not contain an acknowledgment by a bank that the bank has received for deposit a sum of money or funds.

(66)__"Proposal" means a record authenticated by a secured party that includes the terms on which the secured party is willing to accept collateral in full or partial satisfaction of the obligation it secures pursuant to sections 9-1620, 9-1621 and 9-1622.

(67)__"Public-finance transaction" means a secured transaction in connection with which:

(a)__Debt securities are issued;

(b)__All or a portion of the securities issued have an initial stated maturity of at least 20 years; and

(c)__The debtor, obligor, secured party, account debtor or other person obligated on collateral, the assignor or assignee of a secured obligation or the assignor or assignee of a security interest is a state or a governmental unit of a state.