"Authority" means a regional railroad authority organized and existing as a political subdivision and local government unit pursuant to section 398A.03.
"Bonds" means any bonds, notes, or other obligations issued by an authority pursuant to section 398A.07.
"Governing body" means the board, council, or other body authorized by law to exercise the governmental powers of a municipality.
"Municipality" means any county, city, or town.
"Project" means any railroad facilities proposed to be acquired, constructed, improved, or refinanced by an authority in whole or part by the issuance of bonds, including any real or personal property, structures, machinery, equipment, and appurtenances determined by the authority to be useful or convenient for railroad operations and handling passengers or freight.
"Real property" means lands, structures, improvements thereof, and water and riparian rights, and any and all interests and estates therein, legal or equitable, including but not limited to easements, rights-of-way, uses, leases, and licenses.