TN Code § 48-101-302 (2021)
2021 Tennessee Code|Title 48 - Securities, Corporations and Associations|Chapter 101 - Special Purpose Corporations and Associations|Part 3 - Health, Educational and Housing Facility Corporations|§ 48-101-302. Purpose of Part — Liberal Construction

  It is hereby determined and declared that for the benefit of the people of the state of Tennessee, the increase of their commerce, welfare and prosperity and the improvement and maintenance of their health and living conditions, it is essential that the people of this state have access to adequate medical care and hospital facilities, that the elderly residents of the state be assisted, and that the youth of this state be given the fullest opportunity to learn and to develop their intellectual and mental capacities; that it is essential that hospital institutions and institutions for higher education within the state be provided with appropriate additional means to assist in the development and maintenance of the public health, especially for the elderly, and to assist such youth in achieving a higher level of learning and the development of their intellectual and mental capacities; that it is the purpose of this part to provide a measure of assistance and an alternative method to enable hospital institutions and institutions for higher education in the state of Tennessee to provide the facilities which are sorely needed to accomplish the purposes of this part, all to the public benefit and good, as more fully provided herein; and it is the intent of the general assembly by the passage of this part to authorize the incorporation in the several municipalities in this state of public corporations to finance, acquire, own, lease and/or dispose of properties to the end that such corporations may be able to promote the health and higher education of the people of this state, and to vest such corporations with all powers that may be necessary to enable them to accomplish such purposes. It is not intended hereby that any such corporation shall itself be authorized to operate any such enterprise. This part shall be liberally construed in conformity with such intention.   In conjunction with the above purposes of this part, it is further determined and declared that it is for the benefit of the people of the state of Tennessee, the increase of their commerce, welfare and prosperity and the improvement and maintenance of their health and living conditions, that provision be made for additional facilities for educational training and related facilities for individuals with physical and/or intellectual disability; that provision should be made for appropriate educational means to assist in the development and maintenance of the physical and mental health of the affected individuals and the development of their mental and intellectual capacities to the extent that they may be actively involved and participate in the normal day-to-day functions of the citizens of the state of Tennessee, and that it is the intent of the general assembly by the passage of this part to facilitate the foregoing purposes stated herein and above.   In conjunction with the above purposes of this part, it is further determined and declared that it is for the benefit of the people of the state of Tennessee, the increase of their commerce, welfare and prosperity and the improvement and maintenance of their health and living conditions, that provision be made for additional safe and sanitary multi-family housing facilities to be used by persons of low and/or moderate income; that provisions should be made for appropriate safe and sanitary housing of the affected individuals and the improvement of their living standards to the extent that they may be actively involved and participate in the normal day-to-day functions of the citizens of the state of Tennessee, and that it is the intent of the general assembly by the passage of this part to facilitate the foregoing purposes stated herein to the fullest extent allowed the several states of the union pursuant to the laws and regulations of the United States.