The following definitions shall be applied to the terms used in sections 70.120 to 70.200:
(1) "Agreement" shall mean "contract" and shall include renewals and alterations of a contract;
(2) "Governing body" shall mean the board, body, or persons in which the powers of a political subdivision as a body corporate, or otherwise, are vested;
(3) "Political subdivision" shall mean any agency or unit of this state which now is, or hereafter shall be, authorized to levy taxes or empowered to cause taxes to be levied;
(4) "Project" shall mean any resettlement project or rural rehabilitation project for resettlement purposes of the United States located within a political subdivision, and shall include the persons inhabiting such projects;
(5) "Services" shall mean such public and municipal functions as are performed for property in, and for persons residing within, a political subdivision.