Tennessee Code 54-5-129 – Commissioner financing improvements of section of state highway system – Funds to be repaid without interest
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Terms Used In Tennessee Code 54-5-129
- Commissioner: means the commissioner of transportation. See Tennessee Code 54-5-103
- 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.
- 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
- Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
- Road: includes public bridges and may be held equivalent to the words "county way" "county road" or "state road". 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
If any county, county commission or road board, district, city, town, person or corporation desires immediately to improve any section of the state highway system as designated and established by the commissioner, the commissioner may enter into an agreement with the county, county commission, or road board, district, city, or town officials, or other parties, to finance the construction or reconstruction of the highway or section of the highway, and any funds advanced to the commissioner pursuant to the agreement shall be repaid without interest, as and when the general assembly may provide the funds, and the commissioner may apportion the funds for the improvement.