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Terms Used In Tennessee Code 64-9-112

  • Authority: means the Megasite Authority of West Tennessee. See Tennessee Code 64-9-103
  • Board: means the authority's board of directors. See Tennessee Code 64-9-103
  • Contract: A legal written agreement that becomes binding when signed.
  • 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
  • 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

Notwithstanding § 64-9-104(a)(6), a lease of real property, and all amendments thereto, entered into by the authority, and all capital grants and corresponding accountability agreements are subject to approval by the state building commission pursuant to title 4, chapter 15, part 1. An improvement to be constructed by a third party; a sublease by a third party; or a consent, approval, contract, or other action taken by the authority or a lessee pursuant to a lease previously approved by the state building commission is not subject to additional approval by the state building commission. This chapter does not affect other requirements of the Tennessee board of regents necessary to obtain an otherwise required approval from the state building commission relating to a college of applied technology established on the megasite in accordance with title 49, chapter 11, part 4.