As used in this part, unless a different meaning clearly appears from the context, the following definitions apply:
(1) "Governing body" means a body or board that has charge of finances and management of a municipality.
(2) "Municipality" means a city or town, however organized.
(3) "Undertaking" means one or a combination of the following:
(a) water and sewer systems, together with all parts of the systems and appurtenances to the systems, including but not limited to supply and distribution systems, reservoirs, dams, and sewage treatment and disposal works;
(b) public airport construction and public airport building;
(c) convention facilities;
(d) public recreation facilities;
(e) streets and roads;
(f) public parking facilities, solid waste management systems, or other revenue-producing facilities and services authorized for cities and towns; and
(g) public transportation systems, including passenger buses, trolleys, passenger trains and lines, light rail trains and lines, and the facilities associated with those systems.