In this chapter:
(1) “Board” means the district’s board of directors.
(2) “City” means the City of Denton, Texas.
(3) “County” means Denton County, Texas.
(4) “Developer of property in the district” means a developer of property in the district as determined by the governing body of the city.
(5) “Director” means a board member.
(6) “District” means the Cole Ranch Improvement District No. 1 of Denton County, Texas.
(7) “Operating agreement” means an agreement that provides for:
(A) a general description of the improvement projects that may be financed by the district; and
(B) the terms and conditions of:
(i) the financing of the improvement projects described by Paragraph (A); and
(ii) the operation of the district.
(8) “Project agreement” means an agreement between the city and a developer of property in the district that relates to any aspect of the development of property in or outside the district. The governing body of the city may determine whether an agreement constitutes a project agreement for purposes of this chapter.