Tennessee Code 54-6-119 – Termination dates of original permanent financing and comprehensive agreement
Terms Used In Tennessee Code 54-6-119
- Affected jurisdiction: means any county or municipality in which all or a portion of a qualifying transportation facility is located. See Tennessee Code 54-6-102
- Comprehensive agreement: means the comprehensive agreement between the eligible private entity and the responsible public entity required by §. See Tennessee Code 54-6-102
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Private entity: means any natural person, corporation, limited liability company, partnership, joint venture, or other private business entity. See Tennessee Code 54-6-102
- Qualifying transportation facility: means one (1) or more transportation facilities developed, redeveloped, or operated by a private entity pursuant to this chapter. See Tennessee Code 54-6-102
- redevelopment: means the process of replanning, reconstructing, or redesigning a transportation facility, including acquisition, clearance, development, or disposal, or any combination of these activities, of a transportation facility. See Tennessee Code 54-6-102
- Responsible public entity: means a public entity that has the power to develop, redevelop, or operate the applicable transportation facility. See Tennessee Code 54-6-102
- Transportation facility: means any mass transit system intended for shared passenger transport services to the general public, together with any building, structure, appurtenance, utility, transport support facility, transport vehicles, service vehicles, parking facility, or any other facility, structure, vehicle or property needed to operate the transportation facility or provide connectivity for the transportation facility to any other non-mass transit system transportation infrastructure including, but not limited to, interstates, highways, roads, streets, alleys, and sidewalks. See Tennessee Code 54-6-102
The responsible public entity shall determine the date of termination of the original permanent financing and the comprehensive agreement. The responsible public entity may change or extend the termination dates to take into account any refinancing of the original permanent financing, including any refinancing for the purpose of expansion, or any early termination of the original permanent financing to the extent that such modification serves the public purpose of this chapter. Upon the termination of the comprehensive agreement, the authority and duties of the eligible private entity under this chapter shall cease, and the qualifying transportation facility shall be dedicated to the responsible public entity or, if the qualifying transportation facility was initially dedicated by an affected jurisdiction, to such affected jurisdiction for public use. Upon termination of the financing or comprehensive agreement, the responsible public entity may select another private entity pursuant to this chapter to provide the financing or complete the development, redevelopment, or operation of the qualifying transportation facility.