(a) The governing body of a public charter school may sue and be sued. The governing body may not levy taxes or issue bonds except in accordance with state law. A public charter school may conduct activities necessary and appropriate to carry out its responsibilities such as:

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Terms Used In Tennessee Code 49-13-124

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Authorizer: means :
    (A) A local board of education, the Tennessee public charter school commission, or the achievement school district as defined in §. See Tennessee Code 49-13-104
  • 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
  • Contract: A legal written agreement that becomes binding when signed.
  • Governing body: means the organized group of persons who will operate a public charter school or schools by deciding matters, including, but not limited to, budgeting, curriculum and other operating procedures for the public charter school and by overseeing management and administration of a public charter school. See Tennessee Code 49-13-104
  • 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
  • Property: includes both personal and real property. See Tennessee Code 1-3-105
  • Public charter school: means a public school in this state that is established and operating under the terms of a charter agreement and in accordance with this chapter. See Tennessee Code 49-13-104
  • 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
(1) Contract for services, except for the management or operation of the charter school by a for-profit entity;
(2) Buy, sell or lease property;
(3) Borrow funds as needed; and
(4) Pledge its assets as security; provided, however, that those assets are not leased or loaned by the state or local government.
(b) The authorizer may endorse the submission of the school credit bond application to the local taxing authority, if the project is a qualified project under § 54E(c)(2) or § 54F(d)(1) of the Internal Revenue Code of 1986 (26 U.S.C. § 54E(c)(2) and 26 U.S.C. § 54F(d)(1), respectively), and the Tennessee State School Bond Authority Act, compiled in chapter 3, part 12 of this title, and with respect to § 54E(c)(2), the applicant can demonstrate that the applicant meets the ten percent (10%) matching funds requirement, as prescribed by § 54E(c)(2).
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