Tennessee § 64-1-503 - General powers and duties.

§ 64-1-503. General powers and duties.

The agency has the following general powers, functions, and duties: Perpetual succession in the corporate name; Sue and be sued in the corporate name; Adopt, use, and alter a corporate seal, which is judicially noticed; Enter into contracts and cooperative agreements with federal, state, and local governments, and other agencies, with private individuals, corporations, associations, and other organizations as the board deems necessary in carrying out the purposes of this part; Adopt, amend, and repeal bylaws; Appoint managers, officers, employees, attorneys, and agents as the board deems necessary for the transaction of business, fix the appointees' compensation, and, if the board determines necessary, require bonds from the appointees; Receive and expend funds from any source for staffing and other administrative expenses, research, planning, coordination, and other activities deemed necessary to promote the efficient educational development of the region; and Receive grants from private foundations and other sources for the purposes of research and for demonstration projects oriented to human, physical, and natural resources utilization; Coordinate its activities with federal agencies having responsibility for developing natural, human, and physical resources of the region and cooperate with the agencies in developing such resources; Cooperate with local and regional financial institutions in assembling financial resources for educational development; and Acquire by purchase, lease, or gift real and personal property, or any interest therein, that the board deems necessary in carrying out the purposes of this part. Acts 1968, ch. 460, § 3; T.C.A., § 66-1-503 ; Acts 2006, ch. 863, § 7; 2020, ch. 664, § 5. Compiler's Notes. Acts 2006, ch. 863, § 25, provided that the amendment by that act, which rewrote subdivision (14), shall apply only to eminent domain or condemnation proceedings initiated on or after July 1, 2006. Amendments. The 2020 amendment substituted “which is judicially” for “which shall be judicially” in (3); in (4), deleted “such” preceding “contracts”, substituted “governments, and other agencies” for “governments, and agencies thereof”, and “board deems necessary in carrying” for “board may deem necessary or convenient in carrying”; rewrote (6), (7)(A), (8), (9) and (10) which read: “(6) Appoint such managers, officers, employees, attorneys and agents as the board deems necessary for the transaction of its business, fix their compensation, define their duties and require bonds of such of them as the board may determine; (7)(A) Receive and expend funds from any source for staffing and other administrative expenses, research, planning, coordination, economic development, demonstration projects and other activities deemed necessary to promote the efficient, harmonious and economic development of the region; (8) Cooperate and coordinate its activities with local and state planning agencies and other areas in developing and implementing plans for development; (9) Cooperate and coordinate its activities with the federal agencies having responsibility for developing natural, human and physical resources of the region; (10) Cooperate with local and regional financial institutions in assembling financial resources for commercial, industrial and other development;”; and deleted (11)-(15) which read: “(11) Compile, prepare, publish and disseminate information about the economic resources of the region and about subareas; (12) Encourage and assist in the creation of private and semi-public, nonprofit organizations as needed and under existing laws of the state for carrying out specific projects and programs initiated under federal and state laws; (13) Enter into compacts or contractual arrangements with planning agencies of other adjoining or neighboring states, for the purpose of preparing joint comprehensive plans for development of a broader area or region; (14) Acquire by purchase, lease or gift any real and personal property, or any interest therein, that the board deems necessary or convenient in carrying out the purposes of this part; and (15) Have and exercise such other authority as deemed necessary by the board to further and promote the orderly and economic development of the region.” Effective Dates. Acts 2020, ch. 664, § 12. April 2, 2020. Cross-References. Power and use of eminent domain, title 29, ch. 17, part 1.