For purposes of the Infrastructure Development Investment Program Act:

(1) Capitalization means the aggregate of all funds deposited in the investment program from any federal, state, local, or private source, including, but not limited to, any transfer, grant, loan, loan repayment, investment earning, and bond proceed;

(2) Commission means the State Highway Commission;

(3) Contracting agency has the same meaning as in section 39-2802;

(4) Department means the Department of Transportation or any successor agency designated to implement and administer the Infrastructure Development Investment Program Act;

(5) Eligible cost means:

(a) For any project that is federally funded, any cost permitted under an applicable federal statute, regulation, or guidance document that governs state infrastructure banks, transportation credit programs, or revolving loan funds;

(b) For any project that is funded by this state or a political subdivision of this state, any cost, including, but not limited to, the cost for any: Preliminary engineering; traffic, revenue, or environmental study; right-of-way acquisition; legal, financial, and technical consulting service; construction or construction management; project facility; equipment; or nonoperating cost that is necessary for the completion of an eligible project; or

(c) For any project that is a hybrid or multi-sector project, any cost approved by the commission, including any intermodal or utility-related infrastructure that is necessary for project integration;

(6)(a) Eligible entity means any:

(i) Political subdivision;

(ii) Contracting agency; or

(iii) Private partner engaged in a public-private partnership as defined in section 39-2802.

(b) Eligible entity includes any combination of two or more such political subdivisions or private partners, acting jointly to finance, construct, own, or operate an eligible project;

(7)(a) Eligible project means any transportation infrastructure project that provides any of the following public benefits:

(i) Accelerating the delivery of transportation improvements;

(ii) Enhancing the mobility or safety of people in this state;

(iii) Enhancing the economy of this state;

(iv) Promoting economic development in this state; or

(v) Improving the quality of life of the general public.

(b) Eligible project includes, but is not limited to, any highway, street, road, bridge, transit system, rail facility, airport, port, and bicycle or pedestrian facility;

(8) Financial assistance includes, but is not limited to, any loan, credit enhancement, capital or debt service reserve, interest rate subsidy, provision of letter of credit, line of credit, and guarantee, and any other lawful financing mechanism that is approved by the commission and, where applicable, is consistent with federal and state law;

(9)(a) Financing agreement means any contract or instrument executed between the investment program and an eligible entity for a loan or financial assistance.

(b) Financing agreement includes, but is not limited to, any loan agreement, trust indenture, security or reimbursement agreement, guarantee agreement, and resolution, and any similar instrument that is approved by the commission that contains loan terms and repayment provisions;

(10) Investment program means the infrastructure development investment program created under section 39-2904; and

(11) Political subdivision has the same meaning as in section 39-2802.