Tennessee Code Title 54. Highways, Bridges and Ferries § 54-8-103

(1) Make, adopt, amend, and repeal bylaws, guidelines, policies and procedures, and rules and regulations not inconsistent with this chapter, to regulate its affairs and to carry into effect the powers and purposes of the authority and for the conduct of its business;

(2) Borrow money and issue bonds to finance and refinance transportation facilities pursuant to this chapter, and pledge or otherwise encumber revenues as security for all or any of the bonds of the authority as well as any payment obligations under any agreements entered into in connection with any such bonds, subject to the limitations of § 54-8-104(i);

(3) Make and enter into contracts and agreements necessary or incidental to the performance of its duties, the furtherance of its purposes, and the execution of its powers under this chapter upon such terms and conditions it deems appropriate, including agreements with any person, entity, federal agency, the state or other state, or any political subdivision of either;

(4) Receive and accept from any federal or private agency, foundation, corporation, association, or person grants, donations of money or real or personal property for the benefit of the authority, and receive and accept from the state or any other state, and any political subdivision of either and from any other source, aid or contributions of either money, property, or other things of value to be held, used, and applied for the purposes for which such grants and contributions may be made;  provided, that any federal moneys so received and accepted must be accepted and expended by the authority upon such terms and conditions as are prescribed by the United States or any department or agency thereof and as are consistent with the laws of the state, and any state moneys so received must be accepted and expended by the authority upon such terms and conditions as are prescribed by the state not inconsistent with such federal terms and conditions;

(5) Accept loans from the federal government, the state government, regional authorities, localities, and private sources;  provided, that any federal moneys must be accepted and expended by the authority upon such terms and conditions as are prescribed by the United States or any department or agency thereof and as are consistent with laws of the state, and any state moneys must be accepted and expended by the authority upon such terms and conditions as are prescribed by the state;

(6) Make loans or grants to any person, partnership, association, corporation, business, or governmental entity in furtherance of this chapter and enter into such contracts, instruments, and agreements as may be expedient to provide for the repayment of such loans and any security therefor, including to pledge or otherwise encumber revenues, subject to the limitations of § 54-8-104(l);

(7) Create and establish such funds and accounts as may be necessary or desirable for the authority's purposes;

(8) Direct to any fund of the authority any of its property, including, but not limited to, moneys appropriated by the state, premiums, fees and any other amounts received by the authority with respect to financial assistance provided by the authority, proceeds from the sale of bonds of the authority, proceeds as designated by the authority from the loan or other disposition of property held or acquired by the authority, income from investments that were made by the authority or on behalf of the authority from moneys in one (1) or more of its funds, or any other moneys made available to the authority consistent with this chapter;

(9) Collect such fees and charges, if any, as the authority determines to be reasonable in connection with its loans and commitments and administration thereof;

(10) Apply for, execute, and endorse applications submitted by private entities or political subdivisions of the state to obtain federal credit assistance for one (1) or more transportation facilities;  provided, that any such application, agreement, and endorsement must not financially obligate the state or be construed to implicate the credit of the state as security for any such federal credit assistance;

(11) Pursue or otherwise apply for, and execute, an agreement to obtain financing using a federal credit instrument for project financings otherwise authorized by this chapter;

(12) Undertake all actions necessary and convenient to carry out the powers granted in this chapter or reasonably implied from them;

(13) Notwithstanding this section, the authority shall not directly operate any transportation facility;  and

(14) Enter into loan agreements with others with respect to one (1) or more transportation facilities or for activities, costs, debt restructuring, or working capital associated with transportation facilities for such payments or deferrals and upon such terms and conditions as the board of the authority deems advisable in accordance with this chapter.