(a) The eligible private entity shall have all power allowed by law generally to a private entity having the same form of organization as the eligible private entity. The eligible private entity shall have the power to develop, redevelop, and operate the qualifying transportation facility, impose user fees, and enter into service contracts in connection with the development, redevelopment, or operation of the facility in exchange for availability payments and other consideration without further approval by the general assembly; provided, that any state funds used for the purposes of this chapter shall be specifically appropriated by reference in the general appropriations act to the project or services for the qualifying transportation facility; provided, further, that the development, redevelopment, or operation of any project or qualifying transportation facility for which the department is the responsible public entity and for which toll revenue as defined in § 54-3-103 is collected, shall be subject to the requirements of § 54-3-102(b) that the project or facility be included in the department’s transportation improvement program submitted to the general assembly and be subject to approval of the general assembly pursuant to the express provisions of the general appropriations act. Notwithstanding any other law to the contrary, the authority to develop, redevelop, and operate transportation facilities and to impose user fees as provided in this chapter shall apply to any portion of a transportation facility, whether constructed prior to, or on or after, October 1, 2016.
Terms Used In Tennessee Code 54-6-113
Availability payments: means payments by a public entity to an eligible private entity in connection with the development, redevelopment, or operation of a qualifying transportation facility pursuant to a service contract or comprehensive agreement. See Tennessee Code 54-6-102
Comprehensive agreement: means the comprehensive agreement between the eligible private entity and the responsible public entity required by §. See Tennessee Code 54-6-102
Contract: A legal written agreement that becomes binding when signed.
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
Lien: A claim against real or personal property in satisfaction of a debt.
Private entity: means any natural person, corporation, limited liability company, partnership, joint venture, or other private business entity. See Tennessee Code 54-6-102
Qualifying transportation facility: means one (1) or more transportation facilities developed, redeveloped, or operated by a private entity pursuant to this chapter. See Tennessee Code 54-6-102
redevelopment: means the process of replanning, reconstructing, or redesigning a transportation facility, including acquisition, clearance, development, or disposal, or any combination of these activities, of a transportation facility. See Tennessee Code 54-6-102
Responsible public entity: means a public entity that has the power to develop, redevelop, or operate the applicable transportation facility. See Tennessee Code 54-6-102
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
Transportation facility: means any mass transit system intended for shared passenger transport services to the general public, together with any building, structure, appurtenance, utility, transport support facility, transport vehicles, service vehicles, parking facility, or any other facility, structure, vehicle or property needed to operate the transportation facility or provide connectivity for the transportation facility to any other non-mass transit system transportation infrastructure including, but not limited to, interstates, highways, roads, streets, alleys, and sidewalks. See Tennessee Code 54-6-102
User fees: Fees charged to users of goods or services provided by the government. In levying or authorizing these fees, the legislature determines whether the revenue should go into the treasury or should be available to the agency providing the goods or services.
User fees: means the rates, fees, or other charges imposed by the eligible private entity of a qualifying transportation facility for use of all or a portion of the qualifying transportation facility. See Tennessee Code 54-6-102
(b) The eligible private entity may own, lease, or acquire any other right to use or develop and operate the qualifying transportation facility.(c) Any financing of the qualifying transportation facility may be in such amounts and upon such terms and conditions as may be determined by the eligible private entity; provided, that the eligible private entity may issue debt, equity, or other securities or obligations, enter into sale and leaseback transactions, and secure any financing with a pledge of, security interest in, or lien on, any or all of its property.(d) In developing, redeveloping, or operating the qualifying transportation facility, the eligible private entity may:
(1) Make classifications according to reasonable categories for assessment of user fees in accordance with § 54-6-108(c); and(2) With the consent of the responsible public entity, make and enforce reasonable policies to the same extent that the responsible public entity could have made policies with respect to a similar transportation facility.(e) The eligible private entity shall:
(1) Develop, redevelop, or operate the qualifying transportation facility in a manner that meets the engineering and other standards of the responsible public entity for transportation facilities operated and maintained by the responsible public entity, in accordance with the comprehensive agreement;(2) Keep the qualifying transportation facility open for use by the members of the public at all times after its initial opening upon payment of the applicable user fees and availability payments; provided, that the qualifying transportation facility may have reasonable hours of operation based on demand, and may be temporarily closed because of emergencies or, with the consent of the responsible public entity, to protect the safety of the public or for reasonable construction or maintenance procedures;(3) Maintain, or provide by contract for the maintenance of, the qualifying transportation facility;(4) File with the responsible public entity:
(A) Reports describing material contracts with affiliates of the eligible private entity;(B) An accurate schedule of applicable user fees and availability payments charged for use of the qualifying transportation facility; and(C) Any other information required by the responsible public entity; and(5) Cooperate with the responsible public entity in establishing any interconnection with the qualifying transportation facility requested by the responsible public entity.
