(1) "County" means a county of this state or, where a county is divided into two (2) districts, the term "county" means the entire county or either district of the county;

(2) "County court" means the quorum court after the quorum court is constituted and acting as the county court under Arkansas Constitution, Amendment 55 or, until such quorum court is so constituted and acting, the county judge sitting as the county court;

(3) "Construct" means to acquire or build, in whole or in part, in such manner and by such method, including contracting therefor, and if the latter, by negotiation or bidding upon such terms and pursuant to such advertising as the port authority shall determine to be in the public interest and necessary, under the circumstances existing at the time, to accomplish the purposes of and authorities set forth in this chapter;

(4) "Governing body" means the council, board of directors, or city commission of any municipality;

(5) "Municipality" means a city of the first or second class or an incorporated town;

(6) "Equip" means to install or place on or in any building or structure equipment of any and every kind, whether or not affixed, including, without limiting the generality of the foregoing, building service equipment, fixtures, heating equipment, air conditioning equipment, machinery, furniture, furnishings, and personal property of every kind;

(7) "Sell" means to sell for such price, in such manner, and upon such terms as the port authority shall determine including, without limiting the generality of the foregoing, private or public sale, and, if public, pursuant to such advertisement as the port authority shall determine, sale for cash or credit payable in lump sum or in installments, over such period as the port authority shall determine, and, if on credit, with or without interest and at such rate or rates as the port authority shall determine;

(8) "Lease" means to lease for such rentals, for such period or periods and upon such terms and conditions as the port authority shall determine including, without limiting the generality of the foregoing, the granting of such renewal or extension options for such rentals, for such period or periods, and upon such terms and conditions as the port authority shall determine and the granting of such purchase options for such prices and upon such terms and conditions as the port authority shall determine;

(9) "Facilities", "properties", or "property" means any real property, personal property, or mixed property of any and every kind that can be used or that will be useful in carrying out any of the purposes of this chapter;

(10) "Acquire" means to obtain at any time, by gift, purchase, or other arrangement, any project or any portion of a project, whether theretofore constructed and equipped, theretofore partially constructed and equipped, or being constructed and equipped at the time of acquisition, for such consideration and pursuant to such terms and conditions as the port authorities shall determine;

(11) "Person" means any natural person, partnership, corporation, association, organization, business trust, and public or private person or entity;

(12) "Port authority" or "port authorities" means a port authority or port authorities established pursuant to the provisions of this chapter;

(13) "Mortgage lien" includes and means security interest in any personal property embodied in the facilities acquired, constructed, reconstructed, extended, equipped, or improved, in whole or in part, with the proceeds of bonds issued under this chapter.