Terms Used In Tennessee Code > Title 49 > Chapter 3 > Part 12 - Tennessee State School Bond Authority Act

• 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.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Authority: means the Tennessee state school bond authority created by §. See Tennessee Code 49-3-1202
• Board: means the board of trustees of the University of Tennessee or the board of regents of the state university and community college system, or both, as the case may be. See Tennessee Code 49-3-1202
• 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.
• 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.
• corporation: means the corporation created by §. See Tennessee Code 49-3-1202
• Deed: The legal instrument used to transfer title in real property from one person to another.
• 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.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Institution: means :
  (A) The University of Tennessee system, including all of its branches and divisions wherever located, and the services, programs and activities provided therein, and the board of trustees of the University of Tennessee, in the aggregate. See Tennessee Code 49-3-1202
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• 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.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Loan agreement: means an agreement providing for the authority to loan the proceeds derived from the issuance of bonds, notes or other debt obligations pursuant to this chapter to a local government to be used to pay the cost of one (1) or more qualified zone academy projects. See Tennessee Code 49-3-1202
• Local government: means any county, metropolitan government, incorporated city or town or special school district in this state and the state board of education acting on behalf of any special school listed in §. See Tennessee Code 49-3-1202
• 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.
• Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
• Project: means and includes buildings, structures, improvements and equipment of every kind, nature and description, that may be required by or convenient for the purpose of an institution, or a combination of two (2) or more such buildings, structures, improvements and equipment. See Tennessee Code 49-3-1202
• Property: includes both personal and real property. See Tennessee Code 1-3-105
• Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
• School credit bond project: means and includes the acquisition of land for, and the construction, renovation, repair, rehabilitation, improving or equipping of, school facilities for a local government or a public charter school, as defined in §. See Tennessee Code 49-3-1202
• 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
• Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
• Trustee: A person or institution holding and administering property in trust.
• Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}
• United States: includes the District of Columbia and the several territories of the United States. 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