The agency has the following general powers, functions, and duties:

(1) Perpetual succession in the corporate name;

Terms Used In Tennessee Code 64-1-503

  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • 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
  • 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
(2) Sue and be sued in the corporate name;
(3) Adopt, use, and alter a corporate seal, which is judicially noticed;
(4) Enter into contracts and cooperative agreements with federal, state, and local governments, and other agencies, with private individuals, corporations, associations, and other organizations as the board deems necessary in carrying out the purposes of this part;
(5) Adopt, amend, and repeal bylaws;
(6) Appoint managers, officers, employees, attorneys, and agents as the board deems necessary for the transaction of business, fix the appointees’ compensation, and, if the board determines necessary, require bonds from the appointees;
(7)

(A) Receive and expend funds from any source for staffing and other administrative expenses, research, planning, coordination, and other activities deemed necessary to promote the efficient educational development of the region; and
(B) Receive grants from private foundations and other sources for the purposes of research and for demonstration projects oriented to human, physical, and natural resources utilization;
(8) Coordinate its activities with federal agencies having responsibility for developing natural, human, and physical resources of the region and cooperate with the agencies in developing such resources;
(9) Cooperate with local and regional financial institutions in assembling financial resources for educational development; and
(10) Acquire by purchase, lease, or gift real and personal property, or any interest therein, that the board deems necessary in carrying out the purposes of this part.
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