(a) This chapter shall be known and may be cited as the “Tennessee Regional MegasiteAuthority Act of 2007.”
Terms Used In Tennessee Code 64-6-101
Authority: means a regional megasite authority created pursuant to this chapter. See Tennessee Code 64-6-102
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.
Megasite: means a site certified as being suitable and available for development for significant economic and industrial investment as provided in §. See Tennessee Code 64-6-102
(b) A regional authority may be established and created as a regional megasite authority pursuant to this chapter. Section 7-53-104(b) shall apply to a regional megasite authority, which shall have the same powers and authority granted to a corporation under title 7, chapter 53, except as otherwise provided in this chapter. Notwithstanding anything in title 7, chapter 53 to the contrary, in the event of a conflict, this chapter shall control. A regional megasite authority may be established for the purpose of acquiring land, improving, financing, operating, maintaining and marketing a megasite and may be created by two (2) or more participating municipalities; provided, that at least one (1) of the municipalities includes the location of the megasite or may be created by the commissioner of economic and community development in accordance with § 64-6-110.(c) This chapter does not apply to the Megasite Authority of West Tennessee created pursuant to the Megasite Authority of West Tennessee Act of 2021, compiled in chapter 9 of this title.
