(a) If the department of human services does not at any time exercise its preference under § 71-4-503, the board of regents may award a contract to any qualified third-party provider to provide vending operations located in a residence hall or similar housing facility that relies upon the profits of the vending operations for the facility’s support and maintenance.
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Terms Used In Tennessee Code 49-8-118

  • Contract: A legal written agreement that becomes binding when signed.
  • 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.
(b) If at any time a vending facility is established under § 71-4-503 in a self-supporting residence hall or similar housing facility, and when profits generated by the vending machines would otherwise be dedicated in substantial part to the financial support and maintenance of the residence halls, it is the responsibility and obligation of the particular college or university to contribute to the support and maintenance of the residence hall, using revenue derived from vending machines on other parts of the campus not already under the management of a licensed blind vendor, to offset in total the lost revenue.
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