Wherever used in this chapter, unless a different meaning clearly appears in the context, the following terms shall be given the following respective meanings:
(1) CORPORATION. Any corporation organized pursuant to the provisions of this chapter.
(2) MUNICIPALITY. Any incorporated city or town in this state with respect to which a corporation may be organized and in which it is contemplated the corporation will function.
(3) FACILITY. Such term includes all of the following revenue-producing undertakings and any combination or combinations of two or more thereof, whether now existing or hereafter acquired or constructed: Stadium, football field, baseball field, athletic field, golf course, tennis court, bathhouse, swimming pool, speedways, racetracks, and facilities for testing and proving automobiles and other vehicles, together with all real and personal properties which may be deemed necessary or convenient in connection therewith.
(4) GOVERNING BODY. The board or body in which the general legislative powers of the municipality are vested.