Tennessee Code 54-3-103 – Chapter definitions
Current as of: 2023 | Check for updates
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As used in this chapter, unless the context otherwise requires:
Terms Used In Tennessee Code 54-3-103
- Ancillary agreements: means contracts or agreements facilitating the issuance and sale of bonds, including contracts or agreements providing for liquidity and credit enhancement and reimbursement agreements relating to the contracts or agreements providing for liquidity and credit enhancement. See Tennessee Code 54-3-103
- Bonds: means any bonds, notes, renewal notes, refunding bonds, interim certificates, certificates of indebtedness, debentures, warrants, commercial paper, or other obligations or any other evidence of indebtedness or evidence of borrowed money issued or entered into by or on behalf of the department to finance tollway projects. See Tennessee Code 54-3-103
- Commissioner: means the commissioner of transportation. See Tennessee Code 54-3-103
- Department: means the state department of transportation. See Tennessee Code 54-3-103
- development: means the entire process of bringing a tollway or toll facility project to completion, including, but not limited to, planning, feasibility analysis, environmental evaluation, preliminary engineering, design, acquisition of rights-of-way, relocation of utilities, permitting, environmental mitigation, contracting, funding and construction. See Tennessee Code 54-3-103
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Hedging agreements: means interest rate swap or exchange agreements, agreements establishing interest rate floors or ceilings, or both, and other interest rate hedging agreements relating to bonds. See Tennessee Code 54-3-103
- Highway: includes public bridges and may be held equivalent to the words "county way" "county road" or "state road". See Tennessee Code 1-3-105
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- 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
- operation: means any activity associated with the management, operation and maintenance of a completed tollway project, including, but not limited to, collecting tolls. See Tennessee Code 54-3-103
- 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
- State funding board: means the state funding board established in §. See Tennessee Code 54-3-103
- toll facility: means any highway, bridge, tunnel, parking lot or garage, and/or other paved surface or structure designed to carry or contain land transportation vehicles, or any other transportation-related facility, the development or operation of which may be wholly or partially funded or financed with toll revenues. See Tennessee Code 54-3-103