(a) It is declared that airport authorities created pursuant to this chapter shall be public and governmental bodies acting as agencies and instrumentalities of the creating and participating municipalities, and that the acquiring, operating and financing of airports and related facilities by such airport authorities are declared to be for a public and governmental purpose and matters of public necessity. The acquisition of any land, or interest in land, pursuant to this chapter, the planning, acquisition, establishment, development, construction, improvement, maintenance, equipment, operation, regulation, and protection of airports, air navigation facilities, and avigation easements, including the acquisition or elimination of airport hazards and the exercise of any other powers granted in this chapter to authorities are declared to be public and governmental functions, exercised for a public purpose, and matters of public necessity. All land and other property and privileges acquired and used by or on behalf of an authority in the manner and for the purposes enumerated in this chapter shall and are declared to be acquired and used for public and governmental purposes and as a matter of public necessity.

Terms Used In Tennessee Code 42-4-102

  • Airport: means and includes any one (1) or more airports or heliports and related facilities, including, but not limited to, land and interests in land, facilities for storage of air and space craft, navigation and landing aids, taxiways, pads, aprons, control towers, passenger and cargo terminal buildings, hangars, administration and office buildings, garages, parking lots, and such other structures, facilities and improvements necessary or convenient to the development and maintenance of airports and heliports, and for the promotion and accommodation of air and space travel, commerce and navigation. See Tennessee Code 42-4-103
  • Authority: means a metropolitan airport authority created pursuant to this chapter. See Tennessee Code 42-4-103
  • Property: includes both personal and real property. See Tennessee Code 1-3-105
  • State: means the state of Tennessee. See Tennessee Code 42-4-103
(b) The property and revenues of the authority or any interest therein shall be exempt from all state, county and municipal taxation.