Tennessee Code 64-10-214 – Obsolete or surplus property – Disposal
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Terms Used In Tennessee Code 64-10-214
- Authority: means the Cumberland regional business and agribusiness marketing authority. See Tennessee Code 64-10-202
- Board: means the board of directors of the Cumberland regional business and agribusiness marketing authority. See Tennessee Code 64-10-202
- Business: means any start-up or existing business. See Tennessee Code 64-10-202
- Contract: A legal written agreement that becomes binding when signed.
- Property: includes both personal and real property. See Tennessee Code 1-3-105
- 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
The board may direct the disposal of the authority‘s obsolete or surplus property, except for land purchased under the state‘s grant agreement, contract number 100/005-01-91, executed May 23, 1991, and any improvements thereon, which shall immediately be offered, at no cost, to the state. Any disposal of interest in land or improvements to real property purchased pursuant to the abovementioned grant agreement shall receive prior approval of the state building commission. Such disposal shall comply with the general law applicable to counties’ sound business practices.