Terms Used In Tennessee Code > Title 13 > Chapter 20 > Part 6 - Bonds and Finances of Housing Authorities

• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Appraisal: A determination of property value.
• Association: means any association or corporation organized under this chapter. See Tennessee Code 44-14-102
• Bonds: means any bonds, interim certificates, notes, debentures, or other obligations of the authority issued pursuant to this chapter. See Tennessee Code 13-20-102
• City: means the city or town which is, or is about to be, included in the territorial boundaries of an authority when created hereunder. See Tennessee Code 13-20-102
• Code: includes the Tennessee Code and all amendments and revisions to the code and all additions and supplements to the code. See Tennessee Code 1-3-105
• Contract: A legal written agreement that becomes binding when signed.
• Contract: means any agreement of an authority with or for the benefit of an obligee whether contained in a resolution, trust indenture, mortgage, lease, bond or other instrument. See Tennessee Code 13-20-102
• 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.
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Federal government: includes the United States, or any agency, instrumentality, corporate or otherwise, of the United States. See Tennessee Code 13-20-102
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Government: includes the state and federal governments and any subdivision, agency or instrumentality, corporate or otherwise, of either of them. See Tennessee Code 13-20-102
• housing authority: means a public body and a body corporate and politic organized in accordance with this chapter for the purposes, with the powers, and subject to the restrictions, hereinafter set forth. See Tennessee Code 13-20-102
• Housing project: includes all real and personal property, buildings and improvements, stores, offices, lands for farming and gardening, and community facilities acquired or constructed or to be acquired or constructed pursuant to a single plan or undertaking, to:
  (i) Demolish, clear, remove, alter or repair unsanitary or unsafe housing. See Tennessee Code 13-20-102
• 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.
• Lands: includes lands, tenements and hereditaments, and all rights thereto and interests therein, equitable as well as legal. See Tennessee Code 1-3-105
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Member: includes bona fide sheep producers who meet the requirements of associations organized under this chapter. See Tennessee Code 44-14-102
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgage: includes deeds of trust, mortgages, building and loan contracts or other instruments conveying real or personal property as security for bonds and conferring a right to foreclose and cause a sale thereof. See Tennessee Code 13-20-102
• Municipality: means any city, town, or village or other municipality in the state. See Tennessee Code 13-20-102
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• obligee: includes any bondholder, trustee or trustees for any bondholders, any lessor demising property to the authority used in connection with a housing project or any assignee or assignees of the lessor's interest or any part thereof, and the United States, when it is a party to any contract with the authority. See Tennessee Code 13-20-102
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: includes an individual, firm, partnership, corporation and association. See Tennessee Code 44-14-102
• Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• Property: includes both personal and real property. See Tennessee Code 1-3-105
• Quorum: The number of legislators that must be present to do business.
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• State: means the state of Tennessee. See Tennessee Code 13-20-102
• 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
• Statute: A law passed by a legislature.
• Trust indenture: includes instruments pledging the revenues of real or personal properties but not conveying such properties or conferring a right to foreclose and cause a sale thereof. See Tennessee Code 13-20-102
• Trustee: A person or institution holding and administering property in trust.
• written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105
• Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105