For purposes of this Chapter, the following words have the meanings ascribed to them by this Section, except where the context clearly indicates otherwise:
(1) "Board" means the board of commissioners and governing body of the Capital Area Transit System.
(2) "Parish's financial contribution" means the total funds and the fair market value of any in-kind contributions received by the system directly from a parish governing authority and political subdivisions within that parish.
(3) "Participating parish" means a parish which has approved participation and for which participation has been approved by the board.
(4) "System" means the Capital Area Transit System.