When used in this chapter, the following terms shall have the following meanings, respectively, unless the context clearly indicates otherwise: (1) AUTHORITY. A corporation created pursuant to this chapter. (2) MUNICIPALITY. Any city or town incorporated under the laws of the State of Alabama and the inhabitants of an area containing not less than 250 qualified electors outside of an unincorporated city or town who shall become incorporated pursuant to the provisions of this chapter. (3) TERRITORY. The geographical area coterminous with the boundaries of a municipality. (4) GOVERNING BODY. The body or board, by whatsoever name it may be known, having charge of the finances of a municipality. (5) SERVICES. Any one or more or all of the following: water, sewerage, telephone, gas or electric heat, light, or power services, commodities or facilities. (6) ENTERPRISE. The business, undertaking or enterprise of furnishing services.
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