(a) Neither this part nor anything herein contained shall be construed as a restriction or limitation upon any powers which the corporation might otherwise have under any laws of this state, but shall be construed as cumulative of any such powers. No proceedings, notice or approval shall be required for the organization of the corporation or the issuance of any bonds or any instrument as security therefor, except as herein provided, any other law to the contrary notwithstanding; provided, that nothing herein shall be construed to deprive the state and its governmental subdivisions of their respective police powers over properties of the corporation, or to impair any power thereover of any official or agency of the state and its governmental subdivisions which may be otherwise provided by law.
Terms Used In Tennessee Code 48-101-318
Bonds: means bonds, notes, interim certificates, or other obligations of a corporation issued pursuant to this part. See Tennessee Code 48-101-301
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.
Court: includes every court and judge having jurisdiction in the case. See Tennessee Code 48-202-101
Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
Municipality: means any county or incorporated city or town in this state with respect to which a corporation may be organized. See Tennessee Code 48-101-301
project: means the purchase of the accounts receivable of any hospital institution. See Tennessee Code 48-101-301
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
(b) The powers conferred by this part shall be in addition and supplementary to, and the limitations by this part shall not affect the powers conferred by, any other general, special or local law. Projects may be acquired, purchased, constructed, reconstructed, improved, bettered and extended and bonds may be issued under this part for these purposes, notwithstanding that any other general, special or local law may provide for the acquisition, purchase, construction, reconstruction, improvement, betterment and extension of a like project, or the issuance of bonds for like purposes, and without regard to the requirements, restrictions, limitations or other provisions contained in any other general, special or local law.(c) If any one (1) or more sections or provisions of this part (including, without limitation, the provisions of § 48-101-317 authorizing the transfer of a project site by a municipality to a corporation and the provisions of § 48-101-312 exempting the corporation and its properties from taxation), or the application thereof to any person or circumstance, shall ever be held by any court of competent jurisdiction to be invalid, the remaining provisions of this part and the application thereof to persons or circumstances, other than those to which it is held to be invalid, shall not be affected thereby, it being the intention of the general assembly to enact the remaining provisions of this part, notwithstanding such invalidity.(d) If any provision of § 48-101-301(8) or § 48-101-301(15)(D), as amended by Acts 1988, ch. 1014, or the application thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of § 48-101-301(8) or § 48-101-301(15)(D), as amended by chapter 1014 of the Acts of 1988, which can be given effect without the invalid provision or application, and to that end § 48-101-301(8) or (15)(D), as amended by chapter 1014 of the Acts of 1988, are declared to be severable.
