1. “Bonds” means any bonds, notes, certificates of participation or other evidences of indebtedness issued pursuant to Section 35 of Article X of the Oklahoma Constitution;

2. “Department” means the Oklahoma Department of Commerce established pursuant to Section 5001 et seq. of Title 74 of the Oklahoma Statutes and any successor agency;

3. “Governing body” means the city council, city commission, board of trustees of a municipality or the board of commissioners of a county;

4. “Participating Entity” means any municipality or county comprising an established Regional District;

5. “Project” means the acquisition or construction of real or personal property, or both, by or for the use of public or private entities as may be authorized for economic development purposes by the Legislature pursuant to the provisions of Section 35 of Article X of the Oklahoma Constitution; and

6. “Regional District” means a regional economic development district, as designated by the Governor pursuant to Section 7 of this act.¹