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‘‘(a) ‘Board’ means the board of directors of the au-
thority.
‘‘(b) ‘Bonds’ means either revenue bonds, bond an-
ticipating notes, or other types of debt instruments issued
by the compact unless the reference to bonds clearly indi-
cates which type of bonds are being referred to, such as
‘revenue bonds,’ ‘general obligation bonds,’ ‘bond anticipa-
tion notes’ or other specific forms of debt instruments.
‘‘(c) ‘Compact authority’ means the Chickasaw Trail
Economic Development Authority, an entity created joint-
ly by the State Legislatures of Mississippi and Tennessee
under the constitutions of the respective states and ap-
proved by the United States Congress, which may be re-
ferred to as the ‘authority.’
‘‘(d) ‘Compact area’ means all that land area actually
owned or controlled by the authority by deed, lease, option,
right of first refusal, or other legal or accepted instrument
of land exchange.
‘‘(e) ‘Compact study area’ means that area described
as follows:
The general area for the Chickasaw Trail Economic
Development Compact consists of approximately
eight thousand (8,000) acres, located on both sides
of the Tennessee/Mississippi state line at the point
where Shelby County and Fayette County adjoin
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Marshall County, Mississippi. The project bound-
aries are Highway 72 on the north, Quinn Road on
the west, the proposed extension of Goodman Road
on the south, and Redbanks Road on the east. Ap-
proximately one thousand one hundred (1,100) acres
of the study area are in southeast Fayette County;
and the balance of six thousand three hundred
(6,300) acres is in north Marshall County.
‘‘(f) ‘Cost of project’ means all costs of site prepara-
tion and other start-up costs; all costs of construction; all
costs of real and personal property acquired for the pur-
poses of the project and facilities related thereto, including
land and any rights or undivided interest therein, ease-
ments, franchises, fees, permits, approvals, licenses, and
certificates and the securing of such permits, approvals,
licenses and certificates; all machinery and equipment, in-
cluding any cost associated with financing charges and in-
terest before and during construction and during such ad-
ditional period as the compact authority reasonably may
determine to be necessary for the placing of the project
in operation; costs of engineering, geotechnical, architec-
tural and legal services; costs of plans, testing, develop-
ment and specifications and all expenses necessary or inci-
dent to determining the feasibility or practicability of the
project; administrative expenses; and all expenses as may
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be necessary or incidental to the financing. The costs of
any project also may include funds for the creation of a
debt service reserve, a renewal and replacement reserve,
and such other reserves as may be reasonably required by
a specific bond issue for the operation of its projects and
as may be authorized by bond resolution or trust agree-
ment or indenture under the provisions of which the
issuance of any such bonds may be authorized. Any obliga-
tion or expense incurred for any of the foregoing purposes
shall be regarded as a part of the project and may be paid
or reimbursed out of the proceeds of user fees, of revenue
bonds or notes issued for such project, or from other reve-
nues obtained by the compact authority.
‘‘(g) ‘County’ means Marshall County, Mississippi, or
Fayette County, Tennessee.
‘‘(h) ‘Enterprise’ means any for profit or nonprofit
venture, business, service provided, industrial facility or
utility located within the compact area under any agree-
ment or contract with the authority.
‘‘(i) ‘Facilities’ mean any plant, structure, building,
improvement, land or any other real or personal property
of the compact or authority or used or useful in a project
under this chapter.
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‘‘(j) ‘Governing body’ means the elected or duly ap-
pointed officials constituting the governing body of a mu-
nicipality or county.
‘‘(k) ‘Municipality’ means any incorporated city or
town within a county.
‘‘(l) ‘Person’ means any natural person, corporation,
association, partnership, receiver, trustee, guardian, ex-
ecutor, administration, fiduciary, governmental unit, pub-
lic agency, political subdivision or any other group acting
as a unit, and the plural as well as the singular.
‘‘(m) ‘Project’ means any industrial, commercial, re-
search and development, warehousing, distribution, trans-
portation, processing, United States or state government
or tourism enterprise, facility or service, together with all
real property required for construction, maintenance and
operation of the enterprise together with all buildings, and
other supporting land and facilities, structures or improve-
ments of whatever kind required or useful for construc-
tion, maintenance and operation of the enterprise, or any
addition to or expansion of an existing enterprise.
‘‘(n) ‘Property owner group’ means those property
owners who have sold, leased or allowed the use of their
land or otherwise entered into an agreement for the devel-
opment of the project or facilities thereof as a part of the
compact area.
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‘‘(o) ‘Public agency’ means:
‘‘(i) Any department, board, commission, insti-
tution or other agency or instrumentality of the
state;
‘‘(ii) Any city, town, county, political subdivi-
sion, school district or other district created or exist-
ing under the laws of the state or any public agency
of any such city, town, county, political subdivision
or district; and
‘‘(iii) Any department, commission, agency or
instrumentality of the United States of America.
‘‘(p) ‘Related facility’ means any facility related to
a project and includes any of the following, as the same
may pertain to the project of the authority within the com-
pact area:
‘‘(i) Facilities to provide utilities, as defined
herein;
‘‘(ii) Airports, airfields and air terminals;
‘‘(iii) Rail lines;
‘‘(iv) Highways, streets and other roadways;
‘‘(v) Conference centers, classrooms and in-
structional facilities, including any functionally re-
lated facilities;
‘‘(vi) Parks and outdoor recreation facilities;
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‘‘(vii) Auditoriums, pavilions, art centers, cul-
tural centers, office complex and other public facili-
ties; and
‘‘(viii) Public or private health care facilities.
‘‘(q) ‘Revenues’ means all rentals, receipts, income
and other charges derived or received or to be derived or
received by the authority from any of the following: the
operation by the authority of a facility or facilities, or a
part thereof; the sale, including installment sales or condi-
tional sales, lease, sublease or use or other disposition of
any property or facility or portion thereof; the sale, lease
or other disposition of recovered resources; contracts,
agreements or franchises with respect to a facility or por-
tion thereof, with respect to recovered resources, or with
respect to a facility or portion thereof and recovered re-
sources, including but not limited to charges with respect
to the management of any project received with respect
to a facility, income received as a result of the sale or
other disposition of recovered resources, services or utili-
ties; any gift or grant received with respect thereto; pro-
ceeds of bonds to the extent of use thereof for payment
of principal of premium, if any, or interest on the bonds
as authorized by the authority; proceeds from any insur-
ance, condemnation or guaranty pertaining to a facility
or property mortgaged to secure bonds or pertaining to