In this chapter, unless the context or subject matter otherwise requires:

1.    “Commission” means the state water commission.

2.    “Cost of works” includes:

a. The cost of construction, the cost of all lands, property rights, water rights, easements, and franchises acquired which are deemed necessary for such construction; b.    The cost of all water rights acquired or exercised by the commission in connection with the works; c.    The cost of all machinery and equipment, financing charges, interest before and during construction and for a period not exceeding three years after the completion of construction; d. The cost of engineering and legal expenses, plans, specifications, surveys, estimates of cost, and other expenses necessary or incident to determining the feasibility or practicability of a project; e.    Administrative expenses; f.    The construction of the works and the placing of the works in operation; and

g.    Other expenses necessary or incident to the financing authorized in this chapter, including funding of debt service, repair and replacement reserves, capitalized interest, and the payment of bond issuance costs.

3. “Cost-share” means funds appropriated by the legislative assembly or otherwise transferred by the commission to a local entity under commission policy as reimbursement for a percentage of the total approved cost of a project approved by the commission.

4.    “Economic analysis” means an estimate of economic benefits and direct costs that result from the development of a project.

5.    “Grant” means a one-time sum of money appropriated by the legislative assembly and transferred by the commission to a local entity for a particular purpose. A grant is not dependent on the local entity providing a particular percentage of the cost of the project.

6.    “Life cycle analysis” means the summation of all costs associated with the anticipated useful life of a project, including project development, land, construction, operation, maintenance, and disposal or decommissioning.

7.    “Loan” means an amount of money lent to a sponsor of a project approved by the commission to assist with funding approved project components. A loan may be stand-alone financial assistance.

8.    “Owner” includes all individuals, associations, corporations, limited liability companies, districts, municipalities, and other political subdivisions of this state having any title or interest in any properties, rights, water rights, easements, or franchises to be acquired.

9.    “Project” means any one of the works defined in subsection 10, or any combination of such works, which are physically connected or jointly managed and operated as a single unit.

10.    “Water conveyance project” means any assessment drain, streambank stabilization, or snagging and clearing of water courses.

11.    “Works” includes:

    a.    All property rights, easements, and franchises relating to and deemed necessary or convenient for their operation; b.    All water rights acquired and exercised by the commission in connection with such works; c.    All means of conserving and distributing water, including reservoirs, dams, diversion canals, distributing canals, channels, lateral ditches, pumping units, mains, pipelines, treatment plants, and waterworks systems; and

d.    All works for the conservation, control, development, storage, treatment, distribution, and utilization of water, including works for the purpose of irrigation, flood control, watering stock, supplying water for public, domestic, industrial, and recreational use, fire protection, and the draining of lands injured or in danger of injury as a result of such water utilization.