(a) Any local government may adopt local ordinances to authorize:
Terms Used In Tennessee Code 13-10-108
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.
Local government: means an incorporated municipality, county, agency or instrumentality of an incorporated municipality or county, two (2) or more of the foregoing acting jointly, or an authority established by law to provide mass transportation services, or a nonprofit corporation authorized to provide mass transportation services. See Tennessee Code 13-10-101
Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
(1) The acquisition, construction, reconstruction, improvement, maintenance or operation of one (1) or more mass transportation projects, and the use of streets, roads, highways, avenues, parks, or public places for these purposes;(2) The making of a contract or contracts for the acquisition by purchase of all or any part of the property, plant, and equipment of an existing mass transportation facility actually used and useful for the convenience of the public;(3) The making of a contract or contracts with any person, firm or corporation, including a public authority, for the equipment, maintenance or operation of a mass transportation facility owned, acquired, constructed, reconstructed or improved by the local government; and(4) The making of a contract or contracts for a fair and reasonable consideration for mass transportation services to be rendered to the public by a privately-owned or operated mass transportation facility. Such power shall include, but not be limited to, the power to appropriate funds for payment of such consideration, and to provide that all or part of such consideration shall be in the form of capital equipment to be furnished to and used and maintained by such privately-owned or operated mass transportation facility.(b) The powers granted by this section shall be in addition to, and not in substitution for, any other power to acquire, construct, reconstruct, improve, equip, maintain or operate any mass transportation capital project.
