When used in this chapter, the following words and terms shall have the following meanings, respectively, unless the context clearly indicates otherwise:
(1) ARTICLES. The articles of incorporation of an authority.
(2) AUTHORITY. A public corporation incorporated pursuant to this chapter.
(3) BOARD. The board of directors of an authority.
(4) BOND or BONDS. A bond or bonds issued under this chapter.
(5) COUNTY OF INCORPORATION. The county in which an authority has been or is proposed to be incorporated.
(6) DIRECTORS. The members of the board of directors.
(7) INCORPORATORS. The natural persons filing a written application for the incorporation of an authority pursuant to this chapter.
(8) JUDGE OF PROBATE. The judge of probate of the county of incorporation of an authority.
(9) MILITARY INSTALLATION. A federal military fort, base, camp, post, station, yard, depot, arsenal, armory, or installation.
(10) OPERATIONAL AREA. The parcels of realty within a county, previously conveyed to the United States of America, which formerly comprised a military installation, and all property in adjacent areas of close proximity to the military installation within the corporate limits of any municipality whose corporate limits lie in whole or in part within the operational area of the authority that is necessary or convenient to carry out the purposes of the authority.
(11) PERSON. Unless limited to a natural person by the context in which it is used, any person, including, without limitation, a private firm, a private association, a corporation, and a public person.
(12) PROJECT. Any land and any buildings or other improvements thereon, and all real, personal, and mixed properties, within the operational area of an authority, deemed by an authority to be necessary or appropriate in connection therewith, whether or not now in existence, and which shall be suitable for the promotion of the purposes of the authority.
(13) PUBLIC PERSON. The state and any county, city, town, public corporation, agency, subdivision thereof, instrumentality thereof, or similar person.
(14) PURPOSE. The authorized purposes of an authority, which include acquiring, holding, improving, installing, constructing, owning, leasing, developing, performing environmental restoration and remediation, selling, and otherwise disposing of the real and personal property within its operational area for any use, subject to governmental land use restrictions or authority. Permissible uses of the property shall include, without limitation, industrial, commercial, business, office, parking, educational, cultural, artistic, retail, research and development, recreational, and residential uses and may include the construction of homes, apartments, town houses, condominiums, hotels, and motels, and other structures, which the authority deems appropriate for promoting industry, trade, and economic development within the operational area and the State of Alabama.
(15) STATE. The State of Alabama.