(a) The responsible public entity may take any action to obtain federal, state, or local assistance for a qualifying transportation facility that serves the public purpose of this chapter and may enter into any contracts required to receive such federal, state, or local assistance; provided, that any federal funds available to or received by the state and other state funds for the purposes of this chapter shall be subject to appropriation by the general assembly in accordance with § 54-6-113(a). The responsible public entity may determine that it serves the public purpose of this chapter for all or any portion of the costs of a qualifying transportation facility to be paid, directly or indirectly, from the proceeds of a grant or loan made by the federal, state, or local government.

Terms Used In Tennessee Code 54-6-114

  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • 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
(b) The responsible public entity may agree to make grants, milestone payments, or loans for the development, redevelopment, or operation of the qualifying transportation facility from amounts received from the federal government or other public entity. Prior to adoption by the responsible public entity of any action authorizing such grants, milestone payments, or loans, the public entity shall submit a plan of financing to the comptroller of the treasury or the comptroller’s designee for approval. The comptroller of the treasury or the comptroller’s designee may request any additional information as may be required to properly review the proposed plan of financing. The comptroller of the treasury or the comptroller’s designee shall evaluate each plan of financing based on the plan’s particular circumstances and shall approve the plan only if a determination is made that the repayment structure is in the public’s interest.
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