Tenn. Code Ann. § 42-4-102

Declaration of purpose and necessity — Exemption from taxation

Known as the Metropolitan Airport Authority Act

The act spans §§ 42-4-101 to 42-4-117 (17 sections).

Applied in 1 court decision — leading case All American Cab Co. v. Metropolitan Knoxville Airport Authority (1982)

Most recently applied in All American Cab Co. v. Metropolitan Knoxville Airport Authority (August 1982)

Acts 1969, ch. 174, § 2; T.C.A., § 42-702.

(1) It is declared that airport authorities created pursuant to this chapter shall be public and governmental bodies acting as agencies and instrumentalities of the creating and participating municipalities, and that the acquiring, operating and financing of airports and related facilities by such airport authorities are declared to be for a public and governmental purpose and matters of public necessity.

(2) The property and revenues of the authority or any interest therein shall be exempt from all state, county and municipal taxation.

Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.