Tennessee Code 49-13-135 – Method of calculating all terms and costs related to lease, lease-purchase agreement, or other contract or agreement between LEA and charter school
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Terms Used In Tennessee Code 49-13-135
- Contract: A legal written agreement that becomes binding when signed.
- 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
An LEA shall establish a transparent and uniform method of calculating all terms and costs related to any lease, lease-purchase agreement, or other contract or agreement executed between the LEA and a charter school for the use of the LEA’s educational facilities. The LEA shall retain and make available for audit, by the department of education, all records and any supporting documentation related to the execution of such a lease or agreement.