Part Definitions

  1. Law
  2. Tennessee Code
  3. Education
  4. Finances
  5. Tennessee State School Bond Authority Act
  6. Part Definitions

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As used in this part, unless the context otherwise requires:

  1. “Authority” means the Tennessee state school bond authority created by § 49-3-1204;
  2. “Board” means the board of trustees of the University of Tennessee or the board of regents of the state university and community college system, or both, as the case may be;
  3. “Bonds” and “notes” mean bonds and notes, respectively, issued by the authority pursuant to this part;
  4. “Institution” means:
    1. The University of Tennessee system, including all of its branches and divisions wherever located, and the services, programs and activities provided therein, and the board of trustees of the University of Tennessee, in the aggregate; and
    2. The state university and community college system, including all of its constituent institutions wherever located (whether or not conferring degrees), and the services, programs and activities provided therein, and the board of regents of the state university and community college system, in the aggregate;
  5. “Loan agreement” means an agreement providing for the authority to loan the proceeds derived from the issuance of bonds, notes or other debt obligations pursuant to this chapter to a local government to be used to pay the cost of one (1) or more qualified zone academy projects;
  6. “Local government” means any county, metropolitan government, incorporated city or town or special school district in this state and the state board of education acting on behalf of any special school listed in § 49-50-1001;
  7. “Project” means and includes buildings, structures, improvements and equipment of every kind, nature and description, that may be required by or convenient for the purpose of an institution, or a combination of two (2) or more such buildings, structures, improvements and equipment. “Project” also means agricultural land related to educational purposes of an institution purchased from a governmental entity prior to October 1, 2005. “Project” also includes a program of educational loans pursuant to the Tennessee educational loan program established by chapter 4 of this title, and in connection with any such program, “charges” to borrowers includes, without limitation except for insurance premiums assessed by the Tennessee student assistance corporation, interest and other fees payable by or on account of such borrowers upon or in connection with loans made to them by an eligible institution or by the Tennessee student assistance corporation;
  8. “School credit bond project” means and includes the acquisition of land for, and the construction, renovation, repair, rehabilitation, improving or equipping of, school facilities for a local government or a public charter school, as defined in § 49-13-104, if such project qualifies to be financed through the issuance of qualified zone academy bonds as defined in § 54E of the Internal Revenue Code of 1986 (26 U.S.C. § 54E [repealed]), or qualified school construction bonds, as defined in § 54F of the Internal Revenue Code of 1986 (26 U.S.C. § 54F [repealed]), or both; and
  9. “Tennessee student assistance corporation” or “corporation” means the corporation created by § 49-4-201.


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