Whenever used in this part, unless the context otherwise requires:(1) 'Capital improvement property' means any real or tangible property needed for a governmental purpose and having a useful life of one (1) year or more, and any real or tangible personal property with respect to which capital outlay notes can be legally authorized and issued by a municipality;(2) 'Contracting party' means any party to a contract, lease or lease-purchase agreement other than a municipality, and can include individuals, corporations, partnerships, other government agencies, and other business entities;(3) 'Governing body' means the board or body in which the general legislative powers of the municipality are vested;(4) 'Municipality' means any county or incorporated city or town of the state of Tennessee;(5) 'Notice of meeting' means the notice of meeting referred to in this part; and(6) 'Resolution' means any resolution duly adopted by a governing body pursuant to this part.Acts 1983, ch. 186, § 1.