In this article, unless the context otherwise requires:
- 1. "City" means a city or town incorporated under the laws of this state.
- 2. "Fiscal year" means the period commencing on July 1 of any year and terminating on June 30 of the next succeeding year.
- 3. "Governing body" means the body constituted by law to be the legislative department of the taxing district.
- 4. "Municipal corporation" means a sanitary district, electrical district, irrigation district or hospital district or any other similar municipal corporation which is required by law to adopt a budget.
- 5. "Revenue" means any monies derived other than from grants, ad valorem taxes, sales taxes or transaction privilege taxes or from this state. Revenue does not include monies received by a municipal corporation which are restricted in their use or application by law.
- 6. "Taxing district" means a city, county, school district or municipal corporation having the power to levy ad valorem taxes.