(1) “Authority” means a body politic and corporate created pursuant to this chapter.

(2) “Board” means the governing body of the authority.

(3) “Bonds” means and includes the notes, bonds and other evidence of indebtedness or obligations which the authority is authorized to issue pursuant to § 504 of this title.

(4) “Business owner” means any individual, general partner or owner of 50% or more of the voting stock of a corporation which has a business location within the city and which has a business license under the city business license ordinance or has a state business license in cities without licensing ordinance which lists the location of said business within the city.

(5) “City” means incorporated city or town.

(6) “Construction” means and includes acquisition and construction, and “to construct” means and includes to acquire and to construct, all in such manner as may be deemed desirable.

(7) “Facility” or “facilities” means lot or lots, buildings and structures above, at or below the surface of the earth, including equipment, entrances, exits, fencing and all other accessories necessary or desirable for the safety and convenience of the parking of vehicles.

(8) “Federal agency” means and includes the United States of America, the President of the United States of America and any department or corporation agency or instrumentality heretofore or hereafter created, designated or established by the United States of America.

(9) “Improvement” means and includes extension, enlargement and improvement, and “to improve” means and includes to extend, to enlarge and to improve, all in such manner as may be deemed desirable.

(10) “Municipality” means any county, incorporated city or incorporated town of this State.

(11) “Persons” means and includes natural persons.

(12) “Project” means any structure, facility or undertaking which the authority is authorized to acquire, construct, improve, maintain or operate under this chapter.