(a) An authority in the operation, maintenance, and routine repairs of a project may purchase goods, supplies and services that are generally sold to the public by advertised price without the necessity of competitive bidding; provided, that no such purchase shall exceed ten thousand dollars ($10,000). The board of directors of the authority shall adopt a policy governing all purchases in the operation, maintenance and routine repairs of a project in excess of ten thousand dollars ($10,000). In lieu of adopting its own policy for such purchases in excess of ten thousand dollars ($10,000), the authority may adopt, follow or participate in the purchasing procedures of the municipality.
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Terms Used In Tennessee Code 7-89-123

  • board of directors: means the governing body of the authority. See Tennessee Code 7-89-103
  • Contract: A legal written agreement that becomes binding when signed.
  • Municipality: means any county, metropolitan government or incorporated city or town in this state with respect to which an authority may be organized. See Tennessee Code 7-89-103
  • Project: means any land, improvement, structure, building or part of a building comprised of facilities for conventions, public assemblies, conferences, trade exhibitions or other business, social, cultural, scientific and public interest events, along with any associated hotel accommodations. See Tennessee Code 7-89-103
(b) A qualified management contract or other agreement for the operations of an authority facility in excess of ten thousand dollars ($10,000) annually shall be selected through the use of competitive sealed proposals independent of any other procurement.
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