(a) It is declared that airport authorities created pursuant to this chapter are public and governmental bodies acting as agencies and instrumentalities of the creating and participating municipalities, and that the acquiring, operating, and financing of airports and related facilities by such airport authorities are for a public and governmental purpose and matters of public necessity.

Terms Used In Tennessee Code 42-3-116

  • Airport: means any area of land or water that is used, or intended for use, for the landing and taking off of aircraft, and any appurtenant areas that are used, or intended for use, for airport buildings or other airport facilities or avigation easements or rights-of-way, together with all airport buildings and facilities located on those areas. See Tennessee Code 42-3-102
  • authority: means any regional airport authority or municipal airport authority created pursuant to this chapter. See Tennessee Code 42-3-102
  • Property: includes both personal and real property. See Tennessee Code 1-3-105
  • 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 property and revenues of the authority or any interest in such property and revenues are exempt from all state, county, and municipal taxation.
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