Terms Used In Tennessee Code > Title 7 > Metropolitan Government > Chapter 8 - Metropolitan Government-Housing Trust Fund

• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Agency: means the Tennessee housing development agency created by this part. See Tennessee Code 13-23-103
• Agriculture: means :
  (i) The land, buildings and machinery used in the commercial production of farm products and nursery stock. See Tennessee Code 1-3-105
• Amortization: Paying off a loan by regular installments.
• Appraisal: A determination of property value.
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• articles of organization: means in the case of an LLC organized under chapters 201-248 of this title, articles of organization, articles of amendment, articles of correction, certificates of merger, and all similar documents required to be filed with any of the foregoing as part of the formation and continuation of an LLC. See Tennessee Code 48-202-101
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• board of directors: means the governing board of a corporation, whether denominated the board of directors or otherwise, except that no person or group of persons is the board of directors because of powers delegated to that person or group pursuant to §. See Tennessee Code 48-51-201
• Bovine activity: means any activity involving one (1) or more bovine, including, but not limited to:
  (A) Grazing, herding, feeding, branding, milking or any other activity that involves the care or maintenance of bovine. See Tennessee Code 44-21-101
• Bovine owner: means any person with ownership rights to bovine. See Tennessee Code 44-21-101
• Charter: includes amended and restated charters and articles of merger. See Tennessee Code 48-11-201
• Code: includes the Tennessee Code and all amendments and revisions to the code and all additions and supplements to the code. See Tennessee Code 1-3-105
• Commissioner: means the commissioner of agriculture. See Tennessee Code 44-19-103
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Corporation: means a public benefit or mutual benefit corporation which is not a foreign corporation, incorporated under or subject to chapters 51-68 of this title, and is recognized as exempt under §. See Tennessee Code 48-101-902
• Counterclaim: A claim that a defendant makes against a plaintiff.
• Dairy farm: means any place or premises where one (1) or more cows are kept and from which a part or all of the milk or milk products is provided, sold or offered for sale to a milk plant, transfer station or receiving station. See Tennessee Code 44-18-101
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• dealer: means any person, including any distributor, processor, bulk handler, or operator of a store, who purchases or receives on consignment or otherwise, milk or milk products of every kind and description, within the state, for sale, shipment, storage, processing or manufacture. See Tennessee Code 44-19-103
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Department: means the department of environment and conservation, and includes any officer, agency or designee of that department. See Tennessee Code 44-18-101
• Department: means the department of agriculture. See Tennessee Code 44-19-103
• Directors: means natural persons, designated in the charter or bylaws or elected or appointed by the incorporators, and their successors and natural persons elected or appointed to act as members of the board, irrespective of the names or titles by which such persons are described. See Tennessee Code 48-51-201
• Dissolution: means that the LLC has incurred an event under §. See Tennessee Code 48-202-101
• domestic corporation: means a corporation for profit, which is not a foreign corporation, incorporated under or subject to the Tennessee Business Corporation Act, compiled in chapters 11-27 of this title, as amended. See Tennessee Code 48-202-101
• Engages in an equine activity: means riding, training, assisting in medical treatment of, driving, or being a passenger upon an equine, whether mounted or unmounted or any person assisting a participant or show management. See Tennessee Code 44-20-102
• Entity: includes the following, whether foreign or domestic: LLCs. See Tennessee Code 48-202-101
• Equine: means a horse, pony, mule, donkey, or hinny. See Tennessee Code 44-20-102
• Equine activity: means :
  (A) Equine shows, fairs, competitions, performances, or parades that involve any or all breeds of equines and any of the equine disciplines, including, but not limited to, dressage, hunter and jumper horse shows, grand prix jumping, three-day events, combined training, rodeos, driving, pulling, cutting, polo, steeplechasing, English and western performance riding, endurance trail riding and western games, and hunting. See Tennessee Code 44-20-102
• Equine activity sponsor: means an individual, group, club, partnership, or corporation, whether or not the sponsor is operating for profit or nonprofit, that sponsors, organizes, or provides the facilities for an equine activity, including, but not limited to, pony clubs, 4-H clubs, hunt clubs, riding clubs, school and college-sponsored classes, programs and activities, therapeutic riding programs, and operators, instructors, and promoters of equine facilities, including, but not limited to, stables, clubhouses, ponyride strings, fairs, and arenas at which the activity is held. See Tennessee Code 44-20-102
• Equine professional: means a person engaged for compensation:
  (A) In instructing a participant or renting to a participant an equine for the purpose of riding, driving, or being a passenger upon the equine. See Tennessee Code 44-20-102
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Established date of operation: means the date on which a feedlot, dairy farm or poultry production house commenced operating. See Tennessee Code 44-18-101
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
• Feedlot: means a lot, yard, corral or other area in which livestock are confined, primarily for the purposes of feeding, growing, raising, or birthing prior to slaughter. See Tennessee Code 44-18-101
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Foreign corporation: means a nonprofit corporation incorporated under a law other than the law of this state, which would be a nonprofit corporation if formed under the laws of this state. See Tennessee Code 48-101-902
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Governmental agency: means any department, division, public agency, political subdivision or other public instrumentality of the state, the federal government, and other state or public agency, or any two (2) or more thereof. See Tennessee Code 13-23-103
• Housing cost index: means an index of specific housing cost factors to the average Tennessee household calculated monthly or at such times as the agency may require, based on the following formula:

  The median gross monthly household income divided into the sum of:

  (A) The monthly mortgage payment for the average Tennessee household based on a thirty-year mortgage, at the prevailing mortgage interest rate on a mortgage amount sufficient to purchase a standard housing structure that will meet minimum property standards as established by the federal housing administration, including an amount representative of the average yield in discount points and servicing fees to the lender on such mortgage, based on the average discount paid at the latest Federal National Mortgage Association mortgage auction sale. See Tennessee Code 13-23-103
• Housing trust fund: means appropriations, reserves or dedications of any funds by the county. See Tennessee Code 7-8-102
• Housing trust fund: means a fund consisting of appropriations, reserves or dedications of any revenues except pension or retirement funds by a participating unit or units of local government, together with private and foundation sources of funds, all used for providing low income persons with safe and affordable housing. See Tennessee Code 13-23-502
• Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
• Inherent risks of bovine activities: means dangers or conditions that are an integral part of bovine activities, including, but not limited to:
  (A) The propensity of a bovine to behave in ways that may result in injury, loss, damage or death to persons on or around the bovine. See Tennessee Code 44-21-101
• Inherent risks of equine activities: means those dangers or conditions that are an integral part of equine activities, including, but not limited to:
  (A) The propensity of an equine to behave in ways that may result in injury, harm, or death to persons on or around them. See Tennessee Code 44-20-102
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Insured construction loan: means a construction loan for land development or residential housing which is secured by a federally insured mortgage or which is insured or guaranteed by the United States or an instrumentality thereof, or for which there is a commitment by the United States or instrumentality thereof to insure or guarantee such a loan, or a construction loan which is secured by a policy of insurance or guarantee issued by any private mortgage insurer qualified to issue such insurance or guarantee in Tennessee and approved by the agency, or for which there is a commitment to insure or guarantee such loans made by any private mortgage insurer qualified to do business in Tennessee and approved by the agency, or a construction loan insured or guaranteed by an agency or instrumentality of the state authorized by law to issue such insurance or guarantee, or for which there is a commitment to insure or guarantee such loan made by such agency or instrumentality of the state. See Tennessee Code 13-23-103
• insured mortgage loan: means a mortgage loan for residential housing insured or guaranteed by the United States or any instrumentality thereof, or for which there is a commitment by the United States or instrumentality thereof to insure or guarantee such a mortgage, or a mortgage loan which is secured by a policy of insurance or guarantee issued by any private mortgage insurer qualified to issue such insurance or guarantee in Tennessee and approved by the agency, or for which there is a commitment to insure or guarantee such loan made by any private mortgage insurer qualified to do business in Tennessee and approved by the agency, or a mortgage loan insured or guaranteed by any agency or instrumentality of the state authorized by law to issue such insurance, or for which there is a commitment to insure or guarantee such loan made by such agency or instrumentality of the state. See Tennessee Code 13-23-103
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• 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.
• Land development: means the process of acquiring land primarily for residential housing construction for persons and families of lower and moderate income and making, installing or constructing nonresidential housing improvements, including water, sewer and other utilities, roads, streets, curbs, gutters, sidewalks, storm drainage facilities and other installations or works, whether on or off the site, which the agency deems necessary or desirable to prepare such land primarily for residential housing construction within this state. See Tennessee Code 13-23-103
• 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}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Livestock: means all equine as well as animals that are being raised primarily for use as food or fiber for human utilization or consumption including, but not limited to, cattle, sheep, swine, goats, and poultry. See Tennessee Code 44-18-101
• LLC: means a limited liability company, whether foreign or domestic, that is formed under, that is subject to, or that has elected to be governed by, as applicable, the Tennessee Revised Limited Liability Company Act, compiled in chapter 249 of this title, except where expressly indicated otherwise. See Tennessee Code 48-101-802
• Loan fund pool: means appropriations by the state and any appropriations, reserves or dedications of any funds by any county which desires to participate in the homebuyers' revolving loan fund pool. See Tennessee Code 13-23-302
• Local portion: means funds appropriated, reserved or dedicated by any county to fund its respective local portion of the loan fund pool. See Tennessee Code 13-23-302
• Low income: means qualified persons or families who lack the amount of income which is necessary, as determined by the approved entity, to enable them without low interest financial assistance, to live in decent, safe and affordable dwellings without overcrowding. See Tennessee Code 13-23-502
• Low income persons: means qualified persons or families who lack the amount of income that is necessary, as determined by the agency, to enable them, without low interest financial assistance, to live in decent, safe and affordable dwellings without overcrowding. See Tennessee Code 7-8-102
• Materially affects: means prohibits or regulates with respect to the location, or the emission of noise, effluent, odors, sewage, waste or similar products resulting from the operation or the location or use of buildings, machinery, vehicles, equipment or other real or personal property used in the operation of a livestock feedlot, dairy farm or poultry production house. See Tennessee Code 44-18-101
• Member: means a person reflected in the required records of an LLC as the owner of some governance rights of a membership interest of the LLC. See Tennessee Code 48-202-101
• Membership: means the rights and obligations a member has pursuant to a corporation's charter, bylaws and chapters 51-68 of this title. See Tennessee Code 48-51-201
• Milk: means milk from cows and all of its natural components, sweet cream, sour cream, skim milk, flavored milk, buttermilk, condensed or concentrated, whole, low fat, or skim milk for use in milk products of every kind and description. See Tennessee Code 44-19-103
• Month: means a calendar month. See Tennessee Code 1-3-105
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgage: includes deeds of trust, mortgages, building and loan contracts or other instruments conveying real or personal property as security for bonds and conferring a right to foreclose and cause a sale thereof. See Tennessee Code 13-23-103
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
• Mutual benefit corporation: means a domestic corporation which becomes by operation of law a mutual benefit corporation pursuant to §. See Tennessee Code 48-101-902
• Nonprofit corporation: means a nonprofit corporation, whether foreign or domestic, incorporated pursuant to or subject to chapters 51-68 of this title and exempt from franchise and excise tax as not-for-profit as defined in §. See Tennessee Code 48-101-802
• notes: means the bonds and notes respectively authorized to be issued by the agency under this chapter. See Tennessee Code 13-23-103
• Nuisance: means and includes public or private nuisance as defined either by statute or by the common law. See Tennessee Code 44-18-101
• Nuisance action or proceeding: means and includes every action, claim or proceeding, whether brought at law, in equity or as an administrative proceeding, that is based on nuisance. See Tennessee Code 44-18-101
• Oath: A promise to tell the truth.
• Oath: includes affirmation. See Tennessee Code 1-3-105
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Obligations: means any bonds or notes authorized to be issued by the agency under this part. See Tennessee Code 13-23-103
• Oversight: Committee review of the activities of a Federal agency or program.
• Ownership interests: means membership interests in the case of an LLC, shares in the case of a corporation, partnership interests in the case of general or limited partnerships and the equivalent with respect to other entities. See Tennessee Code 48-202-101
• Parent nonprofit corporation: means a nonprofit corporation that is the sole member of a nonprofit corporation. See Tennessee Code 48-101-802
• Participant: means any person, whether amateur or professional, who engages in an equine activity, whether or not a fee is paid to participate in the equine activity. See Tennessee Code 44-20-102
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: means any individual, corporation, partnership, association, cooperative or other business entity. See Tennessee Code 44-19-103
• Person: means an individual, corporation or any other legal entity. See Tennessee Code 44-21-101
• Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
• Persons and families of lower and moderate income: means persons and families irrespective of race, creed, national origin, age or sex deemed by the agency to require such assistance as is made available by this chapter on account of insufficient personal or family income based upon the income limits established by the board of directors. See Tennessee Code 13-23-103
• Poultry production house: means any place or premises where chickens are kept for the production of eggs or broilers for resale to processors, wholesalers or retailers. See Tennessee Code 44-18-101
• Principal office: means the office (in or out of this state) so designated in the annual report where the principal executive offices of a domestic or foreign corporation are located. See Tennessee Code 48-11-201
• Proceeding: includes civil suit and criminal, administrative, and investigatory action. See Tennessee Code 48-202-101
• Processor: means any person engaged in the business of processing milk and other materials into milk products of every kind and description. See Tennessee Code 44-19-103
• Producer: means every person in the state of Tennessee who produces milk or cream from cows and thereafter causes the same to be marketed as milk, cream or other milk and dairy products who has been issued and possesses a valid current producer's permit or certification, issued by the department. See Tennessee Code 44-19-103
• Property: includes both personal and real property. See Tennessee Code 1-3-105
• Public benefit corporation: means a domestic corporation which becomes by operation of law a public benefit corporation pursuant to §. See Tennessee Code 48-101-902
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• Purchaser: means any handler, dealer or processor who purchases or receives milk and milk products from producers on a commercial basis. See Tennessee Code 44-19-103
• qualified lender: means any bank or trust company, federally approved mortgagee, insurance company, mortgage banking institution, federally insured savings and loan association or insured state building and loan association, which is located and authorized to do business in the state, and which is approved by the agency, or the federal national mortgage association. See Tennessee Code 13-23-103
• Qualifying matching share: means funds from any source, other than funds appropriated, reserved or dedicated by the state or any county to specifically fund the state or any local portion, which are used to fund the amount of any loan not funded by the loan fund pool. See Tennessee Code 13-23-302
• Quorum: The number of legislators that must be present to do business.
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• real property: include lands, tenements and hereditaments, and all rights thereto and interests therein, equitable as well as legal. See Tennessee Code 1-3-105
• Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in a perceivable form. See Tennessee Code 1-3-105
• Referendum: means any voting procedure under which affected producers may, by secret ballot, vote for or against an assessment authorized by this chapter. See Tennessee Code 44-19-103
• Regulations: means a resolution by the county legislative body or an ordinance by the governing body of any municipality regulating or prohibiting the normal noises of animals or fowls, the noises in the operation of the equipment, the odors normally associated with any feedlot, dairy farm, or poultry production house, or the preclusion of any animals or fowls from within the city or from within a defined area of the county. See Tennessee Code 44-18-101
• Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
• Representative: when applied to those who represent a decedent, includes executors and administrators, unless the context implies heirs and distributees. See Tennessee Code 1-3-105
• Residential housing: means a specific work or improvement within this state undertaken primarily to provide dwelling accommodations for persons and families of lower and moderate income, including the acquisition, construction or rehabilitation of land, buildings and improvements thereto and such other nonhousing facilities as may be incidental or appurtenant thereto. See Tennessee Code 13-23-103
• Rule of the department: means a rule as defined in the Uniform Administrative Procedures Act, compiled in title 4, chapter 5, that materially affects the operation of a feedlot, dairy farm, or poultry production house and that has been adopted by the department. See Tennessee Code 44-18-101
• Savings and loan association: includes a building and loan association, a federal or state savings and loan association, a federal savings bank, and any other financial institution, the accounts of which are insured by the [former] federal savings and loan insurance corporation (FSLIC) or any successor [repealed] of such corporation. See Tennessee Code 1-3-105
• Secretary: means the corporate officer to whom the bylaws or the board of directors has delegated responsibility under §. See Tennessee Code 48-11-201
• Secretary of state: means the person who holds the office of secretary of state of Tennessee. See Tennessee Code 48-202-101
• Servicing fees: means that sum paid for the reasonable value of services rendered to the agency for the servicing of mortgages it acquires. See Tennessee Code 13-23-103
• Servicing of mortgages: means the collection and payment of all principal and interest and all reasonable fees and charges by the lender for mortgages acquired by the agency. See Tennessee Code 13-23-103
• sex: means a person's immutable biological sex as determined by anatomy and genetics existing at the time of birth and evidence of a person's biological sex. See Tennessee Code 1-3-105
• signed: includes a mark, the name being written near the mark and witnessed, or any other symbol or methodology executed or adopted by a party with intention to authenticate a writing or record, regardless of being witnessed. See Tennessee Code 1-3-105
• State: means the state of Tennessee. See Tennessee Code 13-23-103
• 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
• State portion: means funds appropriated by the state to fund the state portion of the loan fund pool. See Tennessee Code 13-23-302
• Statute: A law passed by a legislature.
• Subsidiary: means a corporation more than fifty percent (50%) of whose outstanding voting shares are owned by its parent and/or the parent's other wholly-owned subsidiaries. See Tennessee Code 48-11-201
• Subsidiary nonprofit corporation: means a nonprofit corporation, the sole member of which is also a nonprofit corporation. See Tennessee Code 48-101-802
• Substantial rehabilitation: means improvements made to residential real property that exceed thirty-five percent (35%) of the proposed market value of the structure after rehabilitation. See Tennessee Code 7-8-102
• Tennessee dairy promotion committee: means a statewide committee appointed by the commissioner established pursuant to this chapter. See Tennessee Code 44-19-103
• Termination: means the end of an LLC's existence as a legal entity and occurs when the articles of termination are filed with the secretary of state under §. See Tennessee Code 48-202-101
• Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
• Trustee: A person or institution holding and administering property in trust.
• Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}
• Unit or units of local government: means any city or county, separately or together, that sets up a program to establish a housing trust fund. See Tennessee Code 13-23-502
• United States: includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
• Venue: The geographical location in which a case is tried.
• Vote: means to cast a ballot in a referendum. See Tennessee Code 44-19-103
• written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105
• Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105
• Zoning requirement: means a regulation or ordinance that has been adopted by a city, county, township, school district, or any special-purpose district or authority, that materially affects the operation of a feedlot, dairy farm or poultry production house. See Tennessee Code 44-18-101