As used in this chapter, unless the context otherwise requires:
(1) “Community, city, or town projects” means, but shall not be limited to, parks, playgrounds, community meeting halls, community cultural facilities, picnic grounds, community recreation facilities, firefighting equipment and facilities, and similar projects to be available to the members of the unincorporated community or citizens of the small city or town in the rural areas of the state for their use, benefit, and enjoyment;
(2) “Rural area” or “rural community” means all the territory of the State of Arkansas that is not within the outer boundary of any city or town having a population of twenty thousand (20,000) or more according to the latest federal decennial census or within such a city's or town's neighboring urbanized areas;
(3) “Small city or town” means a city or a town incorporated under the laws of the State of Arkansas with a population of less than three thousand (3,000) persons according to the latest federal decennial census;
(4) “State” shall mean the State of Arkansas;
(5) “Unincorporated community” means an unincorporated community in a rural area of the state;
(6) “Urbanized area” means the areas of dense settlement and suburbanization contiguous to the central city of a metropolitan area;
(7) “Property in kind” means real or personal property.