Tennessee Code 7-57-305 – Acquisition and transfer of real property interests
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Terms Used In Tennessee Code 7-57-305
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Governing body: means the chief legislative body of any creating or participating municipality. See Tennessee Code 7-57-103
- 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
- Participating municipality: means any city, town or county, which city, town or county, pursuant to a resolution of its governing body and an agreement with the creating municipality, shall have sold, leased, dedicated, donated or otherwise conveyed its hospitals to the authority for operation by the authority in order to make such hospital an operational part of its health care system. See Tennessee Code 7-57-103
- Resolution: means any resolution adopted by governing bodies pursuant to this chapter. See Tennessee Code 7-57-103
Any creating or participating municipality may acquire any interest in land within the boundaries of the creating or participating municipality by gift, purchase, lease or condemnation, and may transfer such interest to an authority by sale, lease or gift. Such transfer may be authorized by resolution of the governing body of the municipality without submission of the question to the voters and without regard to the requirements, restrictions, limitations, or other provisions contained in any other general, special or local law.