(a) A local government that authorizes financing through special assessments under this chapter shall:

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Terms Used In Tennessee Code 68-205-109

  • Capital provider: means a private third-party entity, including its designee, successor, and assigns, that makes or funds C-PACER financing, including refinancing, under this chapter. See Tennessee Code 68-205-102
  • Contract: A legal written agreement that becomes binding when signed.
  • Financing: means financing and refinancing for qualified projects under this chapter. See Tennessee Code 68-205-102
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Local government: means a county, metropolitan government, municipality, or other political subdivision of this state. See Tennessee Code 68-205-102
  • program: means a commercial property assessed clean energy program established under this chapter. See Tennessee Code 68-205-102
  • Property: includes both personal and real property. See Tennessee Code 1-3-105
  • Property owner: means the owner or owners on title, duly recorded, of a commercial property. See Tennessee Code 68-205-102
  • Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in a perceivable form. See Tennessee Code 1-3-105
  • written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105
(1) File a written Notice of Assessment and C-PACER lien in the records of the office of the county register of deeds of the county in which the property is located. The notice must contain:

(A) The amount of the assessment;
(B) The legal description of the property;
(C) The name of each property owner;
(D) A copy of the written assessment contract; and
(E) A reference to this section authorizing the placement of the assessment and C-PACER lien on the property;
(2) File and record each C-PACER lien in the real property records of the county in which the property is located. The recording must contain:

(A) The legal description of the eligible property;
(B) The name of each property owner;
(C) The date on which the lien was created;
(D) The principal amount of the lien; and
(E) The term of the lien; and
(3) Record the executed assignment of the assessment agreement, notice of assignment of assessment, and C-PACER lien, or may delegate the recording to the capital provider receiving the assignment.
(b) The amount of funds allotted through a program must be segregated from the calculation of the undisputed portions necessary for property tax appeals under title 67, chapter 5.
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