Tennessee Code 54-6-104 – Selection of private entity
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Terms Used In Tennessee Code 54-6-104
- Private entity: means any natural person, corporation, limited liability company, partnership, joint venture, or other private business entity. See Tennessee Code 54-6-102
- Public-private initiative: means a contractual arrangement between the responsible public entity and one (1) or more private entities, the terms of which are stated in a public-private agreement, that provides for:
(A) Acceptance of a private equity contribution, including a money payment, for the right to develop, redevelop, or operate a project or to provide service for a qualified transportation facility. See Tennessee Code 54-6-102 - Responsible public entity: means a public entity that has the power to develop, redevelop, or operate the applicable transportation facility. See Tennessee Code 54-6-102
The requirements for purchasing of, and contracting for, goods and services by a public entity as provided in title 6 and title 12, chapter 3 shall not apply to this chapter; provided, that the responsible public entity shall objectively and competitively select a private entity with which to enter into a public-private initiative in accordance with the guidelines adopted by the responsible public entity and as provided in § 54-6-106 for solicited and unsolicited proposals.