“Public improvements” means:

(1) any improvement, as defined in this article;

(2) any improvement, including the construction, equipping, remodeling, extension, repair, and betterment of any municipally owned utility, as defined in IC 8-1-2-1; or

(3) any acquisition or improvement of real estate upon which such an improvement is to be located or that will itself constitute a public improvement.

     “System” means any sewage works or municipally owned utility, as defined in IC 8-1-2-1.

As added by P.L.23-1984, SEC.18.