(1) "Authority" means a body corporate and political subdivision of the state created pursuant to this part 5.

(2) "Board" means the board of directors of an authority.

(3) "Bond" means any bond, note, interim certificate, contract, or other evidence of indebtedness of an authority authorized by this part 5.

(4) "Combination" means any two or more municipalities, two or more counties, or one or more municipalities and one or more counties. In addition, "combination" may include the state to the extent authorized by section 43-4-504 (4).

(5) "Construct" or "construction" means the planning, designing, engineering, acquisition, installation, construction, and reconstruction of public highways.

(6) "County" means any county organized under the laws of the state, including any city and county.

(7) "Division" means the division of local government in the department of local affairs.

(8) "Governmental unit" means the state or any political subdivision thereof located in a metropolitan region, except school districts or authorities.

(9) "Metropolitan region" means an area which is designated a consolidated metropolitan statistical area by the federal office of management and budget and has a population in excess of one million persons.

(10) "Municipality" has the same meaning as that provided in section 31-1-101, C.R.S.

(11) "Person" means any natural person, corporation, partnership, association, or joint venture, the United States of America, or any governmental unit.

(12) "Public highway" means a beltway or other transportation improvement located in a metropolitan region which shall be an expressway which generally circumscribes a metropolitan region and will be primarily utilized for major traffic movement at higher traffic speeds. A public highway may, as the board determines, consist of improvements, including, but not limited to, paving, grading, landscaping, curbs, gutters, culverts, sidewalks, bikeways, lighting, bridges, overpasses, underpasses, rail crossings, frontage roads, access roads, interchanges, drainage facilities, mass transit lanes, park-and-ride facilities, toll collection facilities, service areas, administrative or maintenance facilities, gas, electric, water, sewer, and other utilities located or to be located in the right-of-way for a public highway, and other real or personal property, including easements, rights-of-way, and other interests therein, relating to the financing, construction, operation, or maintenance of a public highway.

(13) "Revenues" means any tolls, fees, rates, charges, assessments, grants, contributions, or other income and revenues received by the authority.

(14) "Sales taxes" means, for the purposes of section 43-4-508, county or municipal sales and use taxes levied and collected within a value capture area.

(15) "State" means the state of Colorado or any of its agencies.