Tennessee Code 5-7-119 – County authorized to dispose of real property at nominal cost to certain nonprofit corporations
Terms Used In Tennessee Code 5-7-119
- 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 - 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.
- 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
Notwithstanding any rule, regulation or other law to the contrary, any county, upon two-thirds (2/3) vote of the county legislative body, may dispose of real property at a nominal cost by private negotiation and sale to a nonprofit corporation, incorporated under the laws of this state, that has received a determination of exemption from the internal revenue service pursuant to 26 U.S.C. § 501(c)(3), and whose purpose includes providing educational and vocational training services to children and adults with disabilities or whose purpose includes providing educational services to youth in areas, including health, science, agriculture, and civic engagement through in-school and after-school programs, and school and community clubs and camps.