As used in this part:

1. (1) “Academic facility” has the same meaning as in Arkansas Code § 6-20-2502(2);
2. (2) “Average daily membership” has the same meaning as in Arkansas Code § 6-20-2502(3);

3. (3) “Eligible school district” means a school district:

   1. (A) Deemed to have existing bonded debt as of January 1, 2005, and said debt continues to exist each fiscal year the district qualifies for bonded debt assistance; and
   2. (B) That applied for bonded debt assistance under Arkansas Code § 6-20-2503 before July 1, 2005;
4. (4) “Foundation funding” means an amount of money specified by the General Assembly for each school year to be expended by school districts for the provision of an adequate education for each student as that amount is established in Arkansas Code § 6-20-2305;
5. (5) “Funding factor” means a funding factor of eighteen dollars and three cents ($18.03) per average daily membership for each fiscal year pursuant Arkansas Code § 6-20-2503 (b)(3)(A)(iii)(a) and (b);
6. (6) “Millage rate” means the millage rate listed in the tax ordinance approved by the county quorum court under the authority of Arkansas Code § 14-14-904;
7. (7) “Miscellaneous funds” has the same meaning as in Arkansas Code § 6-20-2503(a)(3);
8. (8) “Per-student revenue” means the sum of projected revenue from the uniform rate of tax and miscellaneous funds divided by the average daily membership for the school district for the previous school year; and
9. (9) “State wealth index” has the same meaning as in Arkansas Code § 6-20-2503(a)(6).