(1) "Authority" means any municipal tollway authority created pursuant to the provisions of this chapter;

(2) "Project" or "tollway project" means any expressway constructed under the provisions of this chapter by an authority including, without limitation, lands, rights-of-way, bridges, tunnels, overpasses, underpasses, interchanges, entrance plazas, approaches, toll houses, service stations, administration buildings, storage buildings, and other buildings and facilities which the authority involved may deem necessary or desirable for the operation of a tollway project, together with all property, rights, easements, rights-of-way, and interest that may be acquired by an authority for or in connection with the construction or operation of a tollway project. Each tollway project shall be separately designated by appropriate name or number and may be constructed, reconstructed, or extended in sections and stages as the authority may determine from time to time;

(3) "Costs" or "project costs" embraces all direct and indirect costs incurred in connection with the acquisition of rights-of-way for, and constructing and equipping, tollway project. This shall include, without limitation, the cost of the acquisition of all lands, rights-of-way, property, rights, easements, and interest acquired by an authority; the cost of demolishing or removing buildings or structures on the land so acquired; the cost of acquiring any lands to which the buildings or structures may be moved; the cost of all machinery and equipment, financing charges, interest prior to and during construction, and, for a period of not exceeding two (2) years after construction, the funding of a debt service reserve if determined to be necessary by the authority involved; the cost of traffic estimates,engineering fees, legal fees, plans, specifications, surveys, estimates of cost and revenues, any other expenses or expenditures necessary or incidental to determining the feasibility or practicability of a tollway project, administration expense, and any other expense, cost, or expenditure necessary or incidental to the construction of a tollway project, the financing of the construction, and the placing of the tollway project into operation. Any obligation, expense, or expenditure incurred or made by the State Highway Commission with state or federal funds, or any other state or United States agency or department with the authority or approval, prior or subsequent, of an authority for matters pertaining to a tollway project including, without limitation, construction, traffic surveys, boring, preparation of plans and specifications, engineering services, and any other expenses, costs, or expenditures of whatever nature shall be regarded as a part of the costs of a tollway project and shall be reimbursed to the State Highway Commission or other agency or department of the state or United States out of the proceeds of revenue bonds hereafter authorized, or out of any other available funds of an authority;

(4) "Public roads" or "public highways" means all public highways and roads which at any time are part of the state highway system, and all roads and highways which are part of the county road system of the State of Arkansas, and all streets and roadways maintained by any municipality, improvement district, or political subdivision in the State of Arkansas;

(5) "Bonds," "tollway revenue bonds," or "revenue bonds" means revenue bonds of an authority authorized under and issued pursuant to the authority conferred by this chapter;

(6) "Owner" means all individuals, partnerships, associations, corporations, or organizations having any title or interest in any property, rights, easements, or interest authorized to be acquired by and under the authority conferred by this chapter;

(7) "Revenues" embraces all tolls, rentals, gasoline tax revenues, gifts, grants, moneys, charges, and other funds and property of whatever nature coming into the possession of, or under the control of, the authority by virtue of this chapter except the proceeds derived from the sale of revenue bonds issued under the provisions of this chapter.