As used in KRS 42.350 to 42.370 the words:
(1) "Beneficiary agency" means an agency eligible to receive the benefit of a capital project to be wholly or partly financed out of the area development fund, including and limited to political subdivisions, special districts and agencies created pursuant to the Interlocal Cooperation Act, or any combination thereof; and, not-for-profit corporations organized for public purposes and performing governmental functions and services;
(2) "Fund" means the area development fund established in the State Treasury by KRS 42.350.