Tennessee § 54-6-113 - Powers and duties of private entity.

§ 54-6-113. Powers and duties of private entity.

The eligible private entity shall have all power allowed by law generally to a private entity having the same form of organization as the eligible private entity. The eligible private entity shall have the power to develop, redevelop, and operate the qualifying transportation facility, impose user fees, and enter into service contracts in connection with the development, redevelopment, or operation of the facility in exchange for availability payments and other consideration without further approval by the general assembly; provided, that any state funds used for the purposes of this chapter shall be specifically appropriated by reference in the general appropriations act to the project or services for the qualifying transportation facility; provided, further, that the development, redevelopment, or operation of any project or qualifying transportation facility for which the department is the responsible public entity and for which toll revenue as defined in § 54-3-103 is collected, shall be subject to the requirements of § 54-3-102(b) that the project or facility be included in the department's transportation improvement program submitted to the general assembly and be subject to approval of the general assembly pursuant to the express provisions of the general appropriations act. Notwithstanding any other law to the contrary, the authority to develop, redevelop, and operate transportation facilities and to impose user fees as provided in this chapter shall apply to any portion of a transportation facility, whether constructed prior to, or on or after, October 1, 2016. The eligible private entity may own, lease, or acquire any other right to use or develop and operate the qualifying transportation facility. Any financing of the qualifying transportation facility may be in such amounts and upon such terms and conditions as may be determined by the eligible private entity; provided, that the eligible private entity may issue debt, equity, or other securities or obligations, enter into sale and leaseback transactions, and secure any financing with a pledge of, security interest in, or lien on, any or all of its property. In developing, redeveloping, or operating the qualifying transportation facility, the eligible private entity may: Make classifications according to reasonable categories for assessment of user fees in accordance with § 54-6-108(c); and With the consent of the responsible public entity, make and enforce reasonable policies to the same extent that the responsible public entity could have made policies with respect to a similar transportation facility. The eligible private entity shall: Develop, redevelop, or operate the qualifying transportation facility in a manner that meets the engineering and other standards of the responsible public entity for transportation facilities operated and maintained by the responsible public entity, in accordance with the comprehensive agreement; Keep the qualifying transportation facility open for use by the members of the public at all times after its initial opening upon payment of the applicable user fees and availability payments; provided, that the qualifying transportation facility may have reasonable hours of operation based on demand, and may be temporarily closed because of emergencies or, with the consent of the responsible public entity, to protect the safety of the public or for reasonable construction or maintenance procedures; Maintain, or provide by contract for the maintenance of, the qualifying transportation facility; File with the responsible public entity: Reports describing material contracts with affiliates of the eligible private entity; An accurate schedule of applicable user fees and availability payments charged for use of the qualifying transportation facility; and Any other information required by the responsible public entity; and Cooperate with the responsible public entity in establishing any interconnection with the qualifying transportation facility requested by the responsible public entity. Acts 2016, ch. 975, § 1. Code Commission Notes. Acts 2016, ch. 975, § 1 enacted a new chapter 23, but the chapter has been redesignated as chapter 6, by authority of the Code Commission. Compiler's Notes. Acts 2016, ch. 975, § 2 provided that the commissioner of transportation is authorized to promulgate rules to effectuate the purposes of this act. All such rules shall be promulgated in accordance with the provisions of the Uniform Administrative Procedures Act, compiled in title 4, chapter 5. Effective Dates. Acts 2016, ch. 975, § 4. October 1, 2016; provided that for the purpose of promulgating rules, the act took effect on April 27, 2016.