1. Sections 67.1401 to 67.1571 shall be known and may be cited as the "Community Improvement District Act". 2. For the purposes of sections 67.1401 to 67.1571, the following words and terms mean: (1)"Approval" or "approve", for purposes of elections pursuant to sections 67.1401 to 67.1571, a simple majority of those qualified voters voting in the election; (2)"Assessed value", the assessed value of real property as reflected on the tax records of the county clerk of the county in which the property