§ 64-6-107. Exemption From Taxation — Payments in Lieu of Taxes
The authority is declared to be performing a public function on behalf of the participating municipalities and to be a public instrumentality of the municipalities. Accordingly, the authority and all properties at any time owned by the authority, the income and revenues from the properties and all bonds issued by the authority and the income […]
§ 64-6-108. Economic Impact Plan — Allocation of Taxes
The authority is authorized to prepare and submit to the participating municipalities for approval an economic impact plan in the manner described in this section. An economic impact plan shall be a written document and shall specifically identify the area to be included in the plan. The area to be included in the plan shall […]
§ 64-6-109. Review and Termination
Any authority established shall be subject to the governmental entity review law, compiled in title 4, chapter 29, and reviewed pursuant to § 4-29-119.
§ 64-6-110. Alternative Method of Establishing and Governing an Authority
This section creates an alternative method of establishing and governing an authority instead of §§ 64-6-104 and 64-6-105(a). If the commissioner of economic and community development finds and determines that it is wise, expedient, necessary or advisable that the authority be formed and approves the form of certificate of incorporation proposed to be used in […]
§ 64-6-111. Regional Megasite Authorities Subject to Governmental Entity Review Law — Scope of Review — Review as Part of Performance Audit
The following regional megasite authorities shall be subject to review pursuant to the Tennessee Governmental Entity Review Law, compiled in title 4, chapter 29: Memphis regional megasite authority; The review conducted pursuant to this section by the division of state audit in the office of the comptroller of the treasury shall include, but not be […]
§ 64-6-103. Certification of a Megasite
In order for a site to be considered for certification as a megasite, the site should generally consist of a minimum of one thousand (1,000) contiguous acres; provided, however, that, in addition to the one thousand (1,000) acres of contiguous property, other proximate but noncontiguous property may be a part of the megasite. Certification of […]
§ 64-6-104. Participating Municipality — Incorporation of the Authority — Certificate of Incorporation — Organizational Meeting
For the purposes of this chapter, for a county or an incorporated municipality to be a “participating municipality,” the county or incorporated municipality may, upon approval by a majority vote of its governing body, elect to participate in a regional megasite authority as set out in this chapter. In the event such an election is […]
§ 64-6-105. Board of Directors
The authority shall be governed by a board of directors in which all powers of the corporation shall be vested. The membership of the board shall include the following: For each county that chooses to be a participating municipality in accordance with § 64-6-104(a), the county mayor or a designee of the county mayor of […]
§ 64-6-106. Powers of the Authority
In addition to powers and authority granted to a corporation under title 7, chapter 53, the authority is authorized and empowered to: Accept any gifts, or grants, loans of funds or financial or other aid in any form from the federal government or any agency or instrumentality of the federal government or from the state […]
§ 64-6-101. Short Title — Creation and Establishment of Regional Megasite Authority
This chapter shall be known and may be cited as the “Tennessee Regional Megasite Authority Act of 2007.” A regional authority may be established and created as a regional megasite authority pursuant to this chapter. Section 7-53-104(b) shall apply to a regional megasite authority, which shall have the same powers and authority granted to a […]