Tennessee § 54-3-103 - Chapter definitions.

§ 54-3-103. Chapter definitions.

As used in this chapter, unless the context otherwise requires: “Ancillary agreements” means contracts or agreements facilitating the issuance and sale of bonds, including contracts or agreements providing for liquidity and credit enhancement and reimbursement agreements relating to the contracts or agreements providing for liquidity and credit enhancement; “Bonds” means any bonds, notes, renewal notes, refunding bonds, interim certificates, certificates of indebtedness, debentures, warrants, commercial paper, or other obligations or any other evidence of indebtedness or evidence of borrowed money issued or entered into by or on behalf of the department to finance tollway projects; “Commissioner” means the commissioner of transportation; “Department” means the state department of transportation; “Develop” or “development” means the entire process of bringing a tollway or toll facility project to completion, including, but not limited to, planning, feasibility analysis, environmental evaluation, preliminary engineering, design, acquisition of rights-of-way, relocation of utilities, permitting, environmental mitigation, contracting, funding and construction; “Hedging agreements” means interest rate swap or exchange agreements, agreements establishing interest rate floors or ceilings, or both, and other interest rate hedging agreements relating to bonds; “Operate” or “operation” means any activity associated with the management, operation and maintenance of a completed tollway project, including, but not limited to, collecting tolls; installing, repairing, or replacing equipment; maintenance, repair, or improvement of the tollway facility; the payment of debt service on bonds, amounts payable under hedging agreements and ancillary agreements and other costs related thereto; the payment of salaries, benefits and other costs of employees or employment necessary to the operation of tollways and toll facilities, including the collection of tolls and the payment of costs of operation and debt service; contracting or administering contracts related to any such activity; and the funding or financing of any such activity; “State funding board” means the state funding board established in § 9-9-101; “State tollway fund” means each separate fund established in accordance with § 54-3-105, or all such funds, as the context may require, and shall include any accounts and subaccounts in the fund or funds; “Toll” means any fee or charge for the use of a tollway or toll facility; “Toll revenue” means revenues or moneys received by the department from the collection of tolls; from any lease, concession, franchise, license, or other agreement for the right to operate all or part of a tollway, toll facility, or an appurtenant facility; and any other revenues or moneys received by the department from the operation of a tollway or toll facility; “Tollway” or “toll facility” means any highway, bridge, tunnel, parking lot or garage, and/or other paved surface or structure designed to carry or contain land transportation vehicles, or any other transportation-related facility, the development or operation of which may be wholly or partially funded or financed with toll revenues; and “Tollway project” or “toll facility project” means any capital project involving the development or operation of a tollway or toll facility. Acts 2007, ch. 597, § 4.