(a) The state‘s property interest in the megasite is not subject to a lien recorded pursuant to title 66, chapter 11.

Terms Used In Tennessee Code 64-9-110

  • Authority: means the Megasite Authority of West Tennessee. See Tennessee Code 64-9-103
  • 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
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Property: includes both personal and real property. See Tennessee Code 1-3-105
  • Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in a perceivable form. 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) A lease between the authority and a third-party lessee for land within the megasite must provide that, in the event that a lien is filed against the third-party lessee’s leasehold interest pursuant to title 66, chapter 11, the third-party lessee must record a bond in accordance with § 66-11-142 no later than thirty (30) days after the earlier of the date the third-party lessee receives notice of the claim of lien or the date the lien is recorded.
(c) Notwithstanding any other law to the contrary, a third-party lessee is not an agent of the authority or this state for purposes of § 66-11-102(d).
(d) Notwithstanding any other law to the contrary, the authority and a third-party lessee are not required to comply with § 66-11-142 for construction activities undertaken by the third-party lessee pursuant to a lease between the authority and the third-party lessee.
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