This part shall constitute independent authority, separate and apart from parts 1-4 of this chapter, for the establishment and governance of a central business improvement district, and shall constitute an alternative method of establishing and governing such a district. None of this part shall in any way affect the operation and effect of parts 1-4 of this chapter, which shall continue in full force and effect as separate and independent authority for the establishment and governance of a central business improvement district.
T.C.A. § 7-84-506