The following words and phrases, whenever used in this chapter, shall, in the absence of clear implication otherwise, have the following respective meanings:
(1) CORPORATION OR THE CORPORATION. A corporation organized pursuant to the provisions of this chapter.
(2) BOARD. The board of directors of the corporation.
(3) THE STATE. The State of Alabama.
(4) THE MUNICIPALITY. That incorporated city or town in the state which authorized the organization of the corporation.
(5) THE COUNTY. That county in which the certificate of incorporation of the corporation shall be filed for record.
(6) LOCAL SUBDIVISION. The municipality or the county.
(7) PUBLIC CORPORATION.
a. Any public corporation (other than a corporation organized under this chapter) now or hereafter organized or created in the state pursuant to the authorization or determination by the municipality, by the municipality and one or more other cities and towns in the state, by the county, by the county and one or more counties in this state, or by the governing body of any thereof, and
b. The board of education of the municipality or of the county.
(8) UNITED STATES. The United States of America or any of its agencies or instrumentalities.
(9) GOVERNING BODY. The council, board of commissioners, or other like body in which the legislative functions of the municipality are vested by law.
(10) PROJECT. A building or buildings located or to be located in the municipality or in its police jurisdiction and designed for use and occupancy as a courthouse, jail, city or town hall, auditorium, music hall, art gallery, art center, museum, municipal building, or post office or for the supplying of office, warehousing, storage, or related facilities for officers and departments of the municipality, the county, any public corporation, any public utility subject to regulation by the Public Service Commission, any agencies for which the municipality, the county or any public corporation may lawfully furnish office, warehousing, storage, or related facilities and the United States, or any one or more thereof, together with any lands deemed by the board to be desirable in connection therewith.
(11) BOND. Any bond authorized to be issued pursuant to the provisions of this chapter, including refunding bonds.
(12) COUPON. Any interest coupon evidencing an installment of interest payable with respect to a bond.
(13) INDENTURE. A mortgage, an indenture of mortgage, deed of trust, trust agreement, or trust indenture executed by the corporation as security for any bonds.