As used in this subchapter, unless the context otherwise requires:
(1) “Municipality” means any city of the first or second class or incorporated town in the State of Arkansas;
(2) “Waterworks system” means and includes a waterworks system in its entirety, or any integral part thereof, including mains, hydrants, meters, valves, standpipes, storage tanks, pumping tanks, intakes, wells, impounding reservoirs, or purification plants.