• As used in this part, unless the context otherwise requires:
    • (1) “Acquire” means to purchase, lease, construct, reconstruct, replace, or acquire by gift;

    • Terms Used In Tennessee Code 7-52-102

      • Acquire: means to purchase, lease, construct, reconstruct, replace, or acquire by gift. See Tennessee Code 7-52-102
      • 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.
      • Electric plant: means generating, transmission, or distribution systems, together with all other facilities, equipment and appurtenances necessary or appropriate to any such systems for the furnishing of electric power and energy for lighting, heating, power or any other purpose for which electric power and energy can be used. See Tennessee Code 7-52-102
      • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
      • Improvement: means any improvement, extension, betterment, or addition to any electric plant. See Tennessee Code 7-52-102
      • 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
      • Metropolitan government: means the political entity created by consolidation of all, or substantially all, of the political and corporate functions of a county and a city or cities. See Tennessee Code 7-1-101
      • Municipality: means any county, metropolitan government, incorporated city or town in the state of Tennessee. See Tennessee Code 7-52-102
      • 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
      • Statute: A law passed by a legislature.
      • United States: includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105

      (2) “Dispose” means to sell, lease, or otherwise transfer any interest in property;

    • (3) “Electric plant” means generating, transmission, or distribution systems, together with all other facilities, equipment and appurtenances necessary or appropriate to any such systems for the furnishing of electric power and energy for lighting, heating, power or any other purpose for which electric power and energy can be used;

    • (4) “Electric service” means the furnishing of electric power and energy for lighting, heating, power or any other purpose for which electric power and energy can be used;

    • (5) “Federal agency” includes the United States, the president of the United States, the department of housing and urban development, Tennessee Valley authority, or any other similar agency, instrumentality or corporation of the United States, that has heretofore been or may hereafter be created by or pursuant to any act or acts of the congress of the United States;

    • (6) “Governing body” means the county legislative body, board, body or commission having general charge of the municipality;

    • (7) “Improve” means to acquire any improvement;

    • (8) “Improvement” means any improvement, extension, betterment, or addition to any electric plant;

    • (9) “Law” means any act or statute, general, special or local, of the state of Tennessee, including, but not limited to, the charter of any municipality; and

    • (10) “Municipality” means any county, metropolitan government, incorporated city or town in the state of Tennessee.