(a) The Ocoee River recreation and economic development fund is established as a special agency account in the general fund.
Terms Used In Tennessee Code 11-8-103
Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
Board: means the Ocoee River recreation and economic development fund board created pursuant to §. See Tennessee Code 11-8-102
Commissioner: means the commissioner of environment and conservation or the commissioner's designee. See Tennessee Code 11-8-102
Department: means the department of environment and conservation. See Tennessee Code 11-8-102
Development fund: means the Ocoee River recreation and economic development fund. See Tennessee Code 11-8-102
Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
Ocoee River management zone: means the area of land managed by the department in accordance with agreements with the Tennessee Valley authority and U. See Tennessee Code 11-8-102
Ocoee River recreation fee: means the fee deposited in the development fund pursuant to the issuance of a permit as authorized in §. See Tennessee Code 11-8-102
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
(b) The purpose of this chapter is to support recreational water releases on the Ocoee River, to provide for management of the Ocoee River management zone by Tennessee State Parks, and to encourage the economic growth of the Ocoee River.(c) All revenue collected from the Ocoee River recreation fee, pursuant to § 11-8-107, shall be deposited into the development fund.(d) The development fund shall be available to the commissioner for expenditures for the following purposes:
(1) All costs incurred by the department associated with management of the Ocoee River management zone; and(2) Expenses of the board and the department associated with administration of the development fund.(e) Subject to availability of sufficient moneys in the development fund beyond those needed for expenditures for the purposes stated in subsection (d), the commissioner and the board may use the development fund for expenditures for the following purposes:
(1) Infrastructure upgrades to the Ocoee River management zone;(2) Tourism promotion and economic development activities that benefit the Ocoee River management zone; and(3) Other reasonable expenses as determined by the commissioner or the board to be necessary to carry out the intent of this chapter.(f) The development fund may accept funds from any public or private entity and may solicit private grants or donations.(g) Moneys from the development fund shall not be transferred or otherwise revert to the general fund.(h) The state treasurer shall invest moneys in the development fund, in accordance with § 9-4-603, except as qualified by this chapter. The state treasurer shall hold the development fund separate and apart from all other moneys, funds, and accounts.(i) Any balance remaining unexpended at the end of a fiscal year in the development fund shall be carried forward into the subsequent fiscal year.(j) Investment earnings credited to the assets of the development fund, including, but not limited to, interest, shall be carried forward into the subsequent fiscal year.(k) Moneys received by a nonprofit entity created pursuant to § 11-8-105(a)(3), shall be expended only in accordance with, and for the purposes stated in, this chapter.
