Tennessee Code 11-14-201 – Expenditure of public funds
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Terms Used In Tennessee Code 11-14-201
- Bequest: Property gifted by will.
- Devise: To gift property by will.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
Public funds may be expended or advanced by the state or any municipality or county in the state to acquire by purchase, gift, grant, bequest, devise, or lease, the fee or any lesser interest in land, development right, easement, covenant or other contractual right necessary to achieve the purposes of this section and §§ 11-15-107, 11-15-108, 67-5-509, 67-5-601, 67-5-602, and 67-5-1001 – 67-5-1009.