Tenn. Code Ann. § 7-51-2202 — TN Code / Title 7 / Chapter 51 / Section 7-51-2202
Prohibited policies
Status: in_force

(a) A political subdivision of this state shall not, arising from or as a result of a local action, prohibit the development and implementation of the types or sources of energy that may be used, delivered, converted, or supplied by the following entities: (1) An electric utility, an electric cooperative, or an electric system that is owned or operated by a political subdivision; (2) An entity that generates, sells, or transmits electrical energy in accordance with all applicable requirements of state and federal law; (3) A gas utility or a gas system that is owned or operated by a political subdivision; (4) A gas transmission company; (5) A liquefied petroleum gas dealer, liquefied petroleum gas dispenser, or liquefied petroleum gas cylinder exchange operator; or (6) Other liquid petroleum transmission, distribution, retail, or storage entities. (b) A local action of a political subdivision is preempted and void if the local action, directly or indirectly, is or acts as: (1) A de facto prohibition of the siting, or a prohibition of construction, expansion, or maintenance, of energy, industrial, or related transportation infrastructure within the jurisdictional boundary of a political subdivision. When determining whether a local action results in a de facto prohibition, factors to consider include, but are not limited to, the following: (A) A fee imposed; (B) An unreasonable timeframe for a ministerial action; and (C) The local action's effect on the feasibility of the project; (2) Regulation or enforcement of safety standards for interstate or intrastate pipeline facilities or interstate or intrastate pipeline transportation as those terms are defined in 49 U.S.C. § 60101 ; or (3) A prohibition on the ability of a distributor, retailer, wholesaler, or other energy or industrial infrastructure entity to exercise its rights provided by state or federal law related to the siting of energy infrastructure or industrial infrastructure. (c) This section does not prevent or preempt: (1) A political subdivision that owns or operates an electric or natural gas system from promulgating rules, regulations, or policies related to the electric or natural gas system; (2) A local action that is state-authorized, ministerial in nature pertaining to land use, generally applicable to similar types of commercial and industrial activities, and necessary to provide a public benefit; (3) A local action that affects facilities for the transmission, distribution, collection, conversion, and use of solar energy; (4) A local action to require a franchise from a political subdivision prior to providing electric or natural gas services within the jurisdictional boundaries of the political subdivision in accordance with state law; (5) A local action to grant, deny, amend, or revoke a franchise to provide electric or natural gas services within the jurisdictional boundaries of the political subdivision in accordance with state law; (6) A local action to establish, maintain, or enforce exclusive service areas for the provision of electric or natural gas services in accordance with state law; (7) A local action arising from: (A) Authority granted to administer a program in lieu of the department of environment and conservation regarding protection of human health, safety, or the environment if the grant of authority is authorized by federal or state statute or regulation; (B) A permit or coverage under a permit issued by the department of environment and conservation or a permit by rule; or (C) The groundwater protection program or the drinking water program administered by the department of environment and conservation, including, but not limited to, measures designed to be protective within designated source water or wellhead protection areas as defined in programs administered by the department of environment and conservation under authority of the federal Safe Drinking Water Act ( 42 U.S.C. § 300f et seq.); or (8) Reasonable police powers of a political subdivision to regulate the siting, construction, maintenance, or expansion of energy or industrial infrastructure along, over, or under the highways and streets within the political subdivision's corporate limits in order to reduce or prevent the risk of an imminent and substantial threat to human safety from the performance of those activities, including a political subdivision's right to charge reasonable, cost-based compensation for the use of the political subdivision's highways and streets. However: (A) A political subdivision does not have the right to prevent or prohibit a distributor, retailer, or wholesaler from constructing, expanding, or maintaining energy or industrial infrastructure within the limits of the political subdivision, so long as the energy or industrial infrastructure is being constructed, maintained, or expanded within the political subdivision in accordance with reasonable police powers regulations as described in this subdivision (c)(8); and (B) This subdivision (c)(8) does not grant police powers to a political subdivision on matters of siting, construction, maintenance, or expansion of energy or industrial infrastructure subject to regulation by state or federal agencies. (d) This section does not expand or alter the jurisdiction of a governmental entity charged with oversight of public utilities or electric utilities. (e) This section does not expand or alter the regulation of wind energy facility siting provided in title 65, chapter 17. (f) This section does not alter: (1) Exclusive rights to provide electric or natural gas services under state law; or (2) Exclusive service areas for the provision of electric or natural gas services under state law. (g) This section does not allow an entity listed in subdivisions (a)(1)-(6) to provide electric or natural gas services within the exclusive service area of another provider of electric or natural gas services. (h) Any aspect of a local action that violates subsection (a) or (b) that existed on or before July 1, 2022 is preempted by this part and void. Acts 2022 , ch. 1100, § 1.
(a) A political subdivision of this state shall not, arising from or as a result of a local action, prohibit the development and implementation of the types or sources of energy that may be used, delivered, converted, or supplied by the following entities: (1) An electric utility, an electric cooperative, or an electric system that is owned or operated by a political subdivision; (2) An entity that generates, sells, or transmits electrical energy in accordance with all applicable requirements of state and federal law; (3) A gas utility or a gas system that is owned or operated by a political subdivision; (4) A gas transmission company; (5) A liquefied petroleum gas dealer, liquefied petroleum gas dispenser, or liquefied petroleum gas cylinder exchange operator; or (6) Other liquid petroleum transmission, distribution, retail, or storage entities.
(1) An electric utility, an electric cooperative, or an electric system that is owned or operated by a political subdivision;
(2) An entity that generates, sells, or transmits electrical energy in accordance with all applicable requirements of state and federal law;
(3) A gas utility or a gas system that is owned or operated by a political subdivision;
(4) A gas transmission company;
(5) A liquefied petroleum gas dealer, liquefied petroleum gas dispenser, or liquefied petroleum gas cylinder exchange operator; or
(6) Other liquid petroleum transmission, distribution, retail, or storage entities.
(b) A local action of a political subdivision is preempted and void if the local action, directly or indirectly, is or acts as: (1) A de facto prohibition of the siting, or a prohibition of construction, expansion, or maintenance, of energy, industrial, or related transportation infrastructure within the jurisdictional boundary of a political subdivision. When determining whether a local action results in a de facto prohibition, factors to consider include, but are not limited to, the following: (A) A fee imposed; (B) An unreasonable timeframe for a ministerial action; and (C) The local action's effect on the feasibility of the project; (2) Regulation or enforcement of safety standards for interstate or intrastate pipeline facilities or interstate or intrastate pipeline transportation as those terms are defined in 49 U.S.C. § 60101 ; or (3) A prohibition on the ability of a distributor, retailer, wholesaler, or other energy or industrial infrastructure entity to exercise its rights provided by state or federal law related to the siting of energy infrastructure or industrial infrastructure.
(1) A de facto prohibition of the siting, or a prohibition of construction, expansion, or maintenance, of energy, industrial, or related transportation infrastructure within the jurisdictional boundary of a political subdivision. When determining whether a local action results in a de facto prohibition, factors to consider include, but are not limited to, the following: (A) A fee imposed; (B) An unreasonable timeframe for a ministerial action; and (C) The local action's effect on the feasibility of the project;
(A) A fee imposed;
(B) An unreasonable timeframe for a ministerial action; and
(C) The local action's effect on the feasibility of the project;
(2) Regulation or enforcement of safety standards for interstate or intrastate pipeline facilities or interstate or intrastate pipeline transportation as those terms are defined in 49 U.S.C. § 60101 ; or
(3) A prohibition on the ability of a distributor, retailer, wholesaler, or other energy or industrial infrastructure entity to exercise its rights provided by state or federal law related to the siting of energy infrastructure or industrial infrastructure.
(c) This section does not prevent or preempt: (1) A political subdivision that owns or operates an electric or natural gas system from promulgating rules, regulations, or policies related to the electric or natural gas system; (2) A local action that is state-authorized, ministerial in nature pertaining to land use, generally applicable to similar types of commercial and industrial activities, and necessary to provide a public benefit; (3) A local action that affects facilities for the transmission, distribution, collection, conversion, and use of solar energy; (4) A local action to require a franchise from a political subdivision prior to providing electric or natural gas services within the jurisdictional boundaries of the political subdivision in accordance with state law; (5) A local action to grant, deny, amend, or revoke a franchise to provide electric or natural gas services within the jurisdictional boundaries of the political subdivision in accordance with state law; (6) A local action to establish, maintain, or enforce exclusive service areas for the provision of electric or natural gas services in accordance with state law; (7) A local action arising from: (A) Authority granted to administer a program in lieu of the department of environment and conservation regarding protection of human health, safety, or the environment if the grant of authority is authorized by federal or state statute or regulation; (B) A permit or coverage under a permit issued by the department of environment and conservation or a permit by rule; or (C) The groundwater protection program or the drinking water program administered by the department of environment and conservation, including, but not limited to, measures designed to be protective within designated source water or wellhead protection areas as defined in programs administered by the department of environment and conservation under authority of the federal Safe Drinking Water Act ( 42 U.S.C. § 300f et seq.); or (8) Reasonable police powers of a political subdivision to regulate the siting, construction, maintenance, or expansion of energy or industrial infrastructure along, over, or under the highways and streets within the political subdivision's corporate limits in order to reduce or prevent the risk of an imminent and substantial threat to human safety from the performance of those activities, including a political subdivision's right to charge reasonable, cost-based compensation for the use of the political subdivision's highways and streets. However: (A) A political subdivision does not have the right to prevent or prohibit a distributor, retailer, or wholesaler from constructing, expanding, or maintaining energy or industrial infrastructure within the limits of the political subdivision, so long as the energy or industrial infrastructure is being constructed, maintained, or expanded within the political subdivision in accordance with reasonable police powers regulations as described in this subdivision (c)(8); and (B) This subdivision (c)(8) does not grant police powers to a political subdivision on matters of siting, construction, maintenance, or expansion of energy or industrial infrastructure subject to regulation by state or federal agencies.
(1) A political subdivision that owns or operates an electric or natural gas system from promulgating rules, regulations, or policies related to the electric or natural gas system;
(2) A local action that is state-authorized, ministerial in nature pertaining to land use, generally applicable to similar types of commercial and industrial activities, and necessary to provide a public benefit;
(3) A local action that affects facilities for the transmission, distribution, collection, conversion, and use of solar energy;
(4) A local action to require a franchise from a political subdivision prior to providing electric or natural gas services within the jurisdictional boundaries of the political subdivision in accordance with state law;
(5) A local action to grant, deny, amend, or revoke a franchise to provide electric or natural gas services within the jurisdictional boundaries of the political subdivision in accordance with state law;
(6) A local action to establish, maintain, or enforce exclusive service areas for the provision of electric or natural gas services in accordance with state law;
(7) A local action arising from: (A) Authority granted to administer a program in lieu of the department of environment and conservation regarding protection of human health, safety, or the environment if the grant of authority is authorized by federal or state statute or regulation; (B) A permit or coverage under a permit issued by the department of environment and conservation or a permit by rule; or (C) The groundwater protection program or the drinking water program administered by the department of environment and conservation, including, but not limited to, measures designed to be protective within designated source water or wellhead protection areas as defined in programs administered by the department of environment and conservation under authority of the federal Safe Drinking Water Act ( 42 U.S.C. § 300f et seq.); or
(A) Authority granted to administer a program in lieu of the department of environment and conservation regarding protection of human health, safety, or the environment if the grant of authority is authorized by federal or state statute or regulation;
(B) A permit or coverage under a permit issued by the department of environment and conservation or a permit by rule; or
(C) The groundwater protection program or the drinking water program administered by the department of environment and conservation, including, but not limited to, measures designed to be protective within designated source water or wellhead protection areas as defined in programs administered by the department of environment and conservation under authority of the federal Safe Drinking Water Act ( 42 U.S.C. § 300f et seq.); or
(8) Reasonable police powers of a political subdivision to regulate the siting, construction, maintenance, or expansion of energy or industrial infrastructure along, over, or under the highways and streets within the political subdivision's corporate limits in order to reduce or prevent the risk of an imminent and substantial threat to human safety from the performance of those activities, including a political subdivision's right to charge reasonable, cost-based compensation for the use of the political subdivision's highways and streets. However: (A) A political subdivision does not have the right to prevent or prohibit a distributor, retailer, or wholesaler from constructing, expanding, or maintaining energy or industrial infrastructure within the limits of the political subdivision, so long as the energy or industrial infrastructure is being constructed, maintained, or expanded within the political subdivision in accordance with reasonable police powers regulations as described in this subdivision (c)(8); and (B) This subdivision (c)(8) does not grant police powers to a political subdivision on matters of siting, construction, maintenance, or expansion of energy or industrial infrastructure subject to regulation by state or federal agencies.
(A) A political subdivision does not have the right to prevent or prohibit a distributor, retailer, or wholesaler from constructing, expanding, or maintaining energy or industrial infrastructure within the limits of the political subdivision, so long as the energy or industrial infrastructure is being constructed, maintained, or expanded within the political subdivision in accordance with reasonable police powers regulations as described in this subdivision (c)(8); and
(B) This subdivision (c)(8) does not grant police powers to a political subdivision on matters of siting, construction, maintenance, or expansion of energy or industrial infrastructure subject to regulation by state or federal agencies.
(d) This section does not expand or alter the jurisdiction of a governmental entity charged with oversight of public utilities or electric utilities.
(e) This section does not expand or alter the regulation of wind energy facility siting provided in title 65, chapter 17.
(f) This section does not alter: (1) Exclusive rights to provide electric or natural gas services under state law; or (2) Exclusive service areas for the provision of electric or natural gas services under state law.
(1) Exclusive rights to provide electric or natural gas services under state law; or
(2) Exclusive service areas for the provision of electric or natural gas services under state law.
(g) This section does not allow an entity listed in subdivisions (a)(1)-(6) to provide electric or natural gas services within the exclusive service area of another provider of electric or natural gas services.
(h) Any aspect of a local action that violates subsection (a) or (b) that existed on or before July 1, 2022 is preempted by this part and void.
Acts 2022 , ch. 1100, § 1.
Tenn. Code Ann. § 7-32-123 — TN Code / Title 7 / Chapter 32 / Section 7-32-123
Hearing on assessments and objections
Status: in_force

On the date named in the notice, or at any day to which the meeting may be adjourned or to which consideration of the assessments and the objections to the assessment may be postponed, the legislative body shall hear and consider the assessment and objections to the assessment, and, after so doing, shall confirm, modify, or set aside the assessments as shall be deemed right and proper. If any objections to an assessment to pay costs pursuant to § 7-32-101(d) are made, the confirmation of the assessment shall require the unanimous approval of the members of the legislative body present at the meeting at which the objection is considered. Acts 1913 (1st Ex. Sess.), ch. 18, § 6; Shan., § 1991a22; Code 1932, § 3429; T.C.A. (orig. ed.), § 6-1123; Acts 2007, ch. 493, § 4.
On the date named in the notice, or at any day to which the meeting may be adjourned or to which consideration of the assessments and the objections to the assessment may be postponed, the legislative body shall hear and consider the assessment and objections to the assessment, and, after so doing, shall confirm, modify, or set aside the assessments as shall be deemed right and proper. If any objections to an assessment to pay costs pursuant to § 7-32-101(d) are made, the confirmation of the assessment shall require the unanimous approval of the members of the legislative body present at the meeting at which the objection is considered.
Acts 1913 (1st Ex. Sess.), ch. 18, § 6; Shan., § 1991a22; Code 1932, § 3429; T.C.A. (orig. ed.), § 6-1123; Acts 2007, ch. 493, § 4.
Tenn. Code Ann. § 7-41-107 — TN Code / Title 7 / Chapter 41 / Section 7-41-107
Delegation to industrial development corporation
Status: in_force

An eligible municipality in which a district is located is authorized to delegate to any industrial development corporation within the county or counties where the municipality is located the authority to carry out all or part of the project, to issue revenue bonds to finance a project within a district, and to incur cost for the project. The municipality may enter into an agreement with an industrial development corporation in which the municipality agrees to promptly pay to the industrial development corporation the tax revenues received pursuant to this chapter sufficient to service the repayment of the bonds and costs incurred by the industrial development corporation for the project. Upon receipt, that portion of tax revenues must be held in trust by the municipality for the benefit of the industrial development corporation.
Tenn. Code Ann. § 7-52-304 — TN Code / Title 7 / Chapter 52 / Section 7-52-304
Tax equivalents authorized - Conditions and limitations
Status: in_force

Notwithstanding any provision to the contrary appearing in § 7-34-115 or in the provisions of any private act, home rule or metropolitan government charter, every municipality may pay or cause to be paid from its electric system revenues for each fiscal year an amount for payments in lieu of taxes, called "tax equivalents" in this part, on its electric system and electric operations, which, in the judgment of the municipality's governing body after consultation with the supervisory body, shall represent the fair share of the cost of government properly to be borne by the municipality, subject, however, to the following conditions and limitations: (1) The total amount so paid as tax equivalents for each fiscal year shall not exceed a maximum amount equal to the sum of the following: (A) With respect to each of the respective taxing jurisdictions in which the municipality's electric system is located, the equalized property tax rate, determined as provided in this part, for the taxing jurisdiction as of the beginning of such fiscal year, multiplied by the net plant value of the electric plant and the book value of materials and supplies within the taxing jurisdiction as of the beginning of such fiscal year, multiplied by the assessment ratio in effect as of the beginning of such fiscal year; and (B) Four percent (4%) of the average of revenue less power costs from electric operations for the preceding three (3) fiscal years; (2) Such tax equivalent payments shall be made only from electric system revenues remaining after payment of, or making reasonable provision for payment of: (A) Current electric system operating expenses, including salaries, wages, cost of materials and supplies, power at wholesale and insurance; (B) Current payments of interest on indebtedness incurred or assumed by the municipality for the acquisition, extension, or improvement of the electric system, and the payment of principal amounts of such indebtedness, including sinking fund payments, when due; (C) Reasonable reserves for renewals, replacements and contingencies; and (D) Cash working capital adequate to cover operating expenses for a reasonable number of weeks; (3) The total amount to be paid as tax equivalents for each fiscal year shall be in lieu of all state, county, city and other local taxes or charges on the municipality's electric system and electric operations, except as provided in subdivision (6). Accordingly, after initial determination of such total tax equivalent amount to be paid in the absence of any such taxes or charges, such total tax equivalent amount shall be reduced by the aggregate amount of any such taxes or charges imposed for such fiscal year on the municipality's electric system or electric operations by or for the benefit of the respective taxing jurisdictions, including the municipality, in which the municipality's electric system is located and in which such electric operations are conducted, whether or not such taxes or other charges were imposed by the respective taxing jurisdictions receiving the benefit of such taxes or charges. Any amount allocated to any such taxing jurisdiction other than a municipality, as provided in § 7-52-306 or § 7-52-307 , shall be reduced by the aggregate amount of any such taxes or charges imposed for that fiscal year for the benefit of that taxing jurisdiction. Only the respective amounts remaining after the allocated amounts provided for in this subdivision (3) have been so reduced shall be actually paid to the municipality and to such respective taxing jurisdictions; (4) The total amount to be paid as tax equivalents, including that to be paid for a municipality and any other taxing jurisdiction, for each fiscal year, determined in accordance with and subject to this part, shall be set forth in a resolution adopted by the municipality's governing body after consultation with the supervisory body, and the municipality's electric system shall pay to the municipality and any other taxing jurisdictions the amounts as provided in the resolution. Such determination shall be made as early in such fiscal year as possible and shall become final at the end of such fiscal year; provided, that if no such determination is made by the municipality by the end of such fiscal year, the total amount actually expensed, consistent with this part, by the electric system as of the end of such fiscal year shall constitute a final determination; provided, further, that any reductions in such amount required by subdivision (3), to the extent not made during such fiscal year, shall be made as early as possible in the succeeding fiscal year until the full adjustments are completed; (5) (A) Notwithstanding subdivisions (1)-(4), until the first fiscal year in which the aforementioned maximum amount for equivalents, calculated as provided in subdivision (1), exceeds the tax equivalent amount for the twelve (12) months ended June 30, 1987: (i) The maximum tax equivalent amount that may be paid for any fiscal year shall not be less than the tax equivalent amount for the twelve (12) months ended June 30, 1987; and (ii) Notwithstanding any provision to the contrary in any private act, home rule or metropolitan government charter, or in the provisions of § 7-52-309 , any distribution payment to a taxing jurisdiction for any fiscal year shall not be greater than the amount paid to such taxing jurisdiction for the twelve (12) months ended June 30, 1987; (B) For purposes of subdivision (5)(A), "tax equivalent amount for the twelve (12) months ended June 30, 1987" means the tax equivalent amount actually expensed for, and applicable to such twelve (12) months, consistent with the power contract, in effect during such twelve (12) months, between the municipality and the Tennessee valley authority. Thereafter, such maximum amount for any fiscal year shall not exceed the maximum amount calculated as provided in subdivision (1). All such maximum amounts shall be subject to the conditions and limitations of subdivisions (2), (3) and (4); and (6) Notwithstanding anything in subdivisions (1)-(5) that might be construed to the contrary, properly authorized retail sales or use taxes on electric power or energy at the same rates applicable generally to sales or use of personal property or services, including natural or artificial gas, coal, and fuel oil, as well as electric power or energy, imposed upon the vendees or users of electric power or energy by the state, a county, or a city, including a municipality, on a statewide, countywide, or citywide basis, respectively, shall not be considered a tax or charge on the municipality's electric system or its electric operations or properties for purposes of this part. Acts 1987, ch. 84, § 5.
Notwithstanding any provision to the contrary appearing in § 7-34-115 or in the provisions of any private act, home rule or metropolitan government charter, every municipality may pay or cause to be paid from its electric system revenues for each fiscal year an amount for payments in lieu of taxes, called "tax equivalents" in this part, on its electric system and electric operations, which, in the judgment of the municipality's governing body after consultation with the supervisory body, shall represent the fair share of the cost of government properly to be borne by the municipality, subject, however, to the following conditions and limitations:
(1) The total amount so paid as tax equivalents for each fiscal year shall not exceed a maximum amount equal to the sum of the following: (A) With respect to each of the respective taxing jurisdictions in which the municipality's electric system is located, the equalized property tax rate, determined as provided in this part, for the taxing jurisdiction as of the beginning of such fiscal year, multiplied by the net plant value of the electric plant and the book value of materials and supplies within the taxing jurisdiction as of the beginning of such fiscal year, multiplied by the assessment ratio in effect as of the beginning of such fiscal year; and (B) Four percent (4%) of the average of revenue less power costs from electric operations for the preceding three (3) fiscal years;
(A) With respect to each of the respective taxing jurisdictions in which the municipality's electric system is located, the equalized property tax rate, determined as provided in this part, for the taxing jurisdiction as of the beginning of such fiscal year, multiplied by the net plant value of the electric plant and the book value of materials and supplies within the taxing jurisdiction as of the beginning of such fiscal year, multiplied by the assessment ratio in effect as of the beginning of such fiscal year; and
(B) Four percent (4%) of the average of revenue less power costs from electric operations for the preceding three (3) fiscal years;
(2) Such tax equivalent payments shall be made only from electric system revenues remaining after payment of, or making reasonable provision for payment of: (A) Current electric system operating expenses, including salaries, wages, cost of materials and supplies, power at wholesale and insurance; (B) Current payments of interest on indebtedness incurred or assumed by the municipality for the acquisition, extension, or improvement of the electric system, and the payment of principal amounts of such indebtedness, including sinking fund payments, when due; (C) Reasonable reserves for renewals, replacements and contingencies; and (D) Cash working capital adequate to cover operating expenses for a reasonable number of weeks;
(A) Current electric system operating expenses, including salaries, wages, cost of materials and supplies, power at wholesale and insurance;
(B) Current payments of interest on indebtedness incurred or assumed by the municipality for the acquisition, extension, or improvement of the electric system, and the payment of principal amounts of such indebtedness, including sinking fund payments, when due;
(C) Reasonable reserves for renewals, replacements and contingencies; and
(D) Cash working capital adequate to cover operating expenses for a reasonable number of weeks;
(3) The total amount to be paid as tax equivalents for each fiscal year shall be in lieu of all state, county, city and other local taxes or charges on the municipality's electric system and electric operations, except as provided in subdivision (6). Accordingly, after initial determination of such total tax equivalent amount to be paid in the absence of any such taxes or charges, such total tax equivalent amount shall be reduced by the aggregate amount of any such taxes or charges imposed for such fiscal year on the municipality's electric system or electric operations by or for the benefit of the respective taxing jurisdictions, including the municipality, in which the municipality's electric system is located and in which such electric operations are conducted, whether or not such taxes or other charges were imposed by the respective taxing jurisdictions receiving the benefit of such taxes or charges. Any amount allocated to any such taxing jurisdiction other than a municipality, as provided in § 7-52-306 or § 7-52-307 , shall be reduced by the aggregate amount of any such taxes or charges imposed for that fiscal year for the benefit of that taxing jurisdiction. Only the respective amounts remaining after the allocated amounts provided for in this subdivision (3) have been so reduced shall be actually paid to the municipality and to such respective taxing jurisdictions;
(4) The total amount to be paid as tax equivalents, including that to be paid for a municipality and any other taxing jurisdiction, for each fiscal year, determined in accordance with and subject to this part, shall be set forth in a resolution adopted by the municipality's governing body after consultation with the supervisory body, and the municipality's electric system shall pay to the municipality and any other taxing jurisdictions the amounts as provided in the resolution. Such determination shall be made as early in such fiscal year as possible and shall become final at the end of such fiscal year; provided, that if no such determination is made by the municipality by the end of such fiscal year, the total amount actually expensed, consistent with this part, by the electric system as of the end of such fiscal year shall constitute a final determination; provided, further, that any reductions in such amount required by subdivision (3), to the extent not made during such fiscal year, shall be made as early as possible in the succeeding fiscal year until the full adjustments are completed;
(5) (A) Notwithstanding subdivisions (1)-(4), until the first fiscal year in which the aforementioned maximum amount for equivalents, calculated as provided in subdivision (1), exceeds the tax equivalent amount for the twelve (12) months ended June 30, 1987: (i) The maximum tax equivalent amount that may be paid for any fiscal year shall not be less than the tax equivalent amount for the twelve (12) months ended June 30, 1987; and (ii) Notwithstanding any provision to the contrary in any private act, home rule or metropolitan government charter, or in the provisions of § 7-52-309 , any distribution payment to a taxing jurisdiction for any fiscal year shall not be greater than the amount paid to such taxing jurisdiction for the twelve (12) months ended June 30, 1987; (B) For purposes of subdivision (5)(A), "tax equivalent amount for the twelve (12) months ended June 30, 1987" means the tax equivalent amount actually expensed for, and applicable to such twelve (12) months, consistent with the power contract, in effect during such twelve (12) months, between the municipality and the Tennessee valley authority. Thereafter, such maximum amount for any fiscal year shall not exceed the maximum amount calculated as provided in subdivision (1). All such maximum amounts shall be subject to the conditions and limitations of subdivisions (2), (3) and (4); and
(A) Notwithstanding subdivisions (1)-(4), until the first fiscal year in which the aforementioned maximum amount for equivalents, calculated as provided in subdivision (1), exceeds the tax equivalent amount for the twelve (12) months ended June 30, 1987: (i) The maximum tax equivalent amount that may be paid for any fiscal year shall not be less than the tax equivalent amount for the twelve (12) months ended June 30, 1987; and (ii) Notwithstanding any provision to the contrary in any private act, home rule or metropolitan government charter, or in the provisions of § 7-52-309 , any distribution payment to a taxing jurisdiction for any fiscal year shall not be greater than the amount paid to such taxing jurisdiction for the twelve (12) months ended June 30, 1987;
(i) The maximum tax equivalent amount that may be paid for any fiscal year shall not be less than the tax equivalent amount for the twelve (12) months ended June 30, 1987; and
(ii) Notwithstanding any provision to the contrary in any private act, home rule or metropolitan government charter, or in the provisions of § 7-52-309 , any distribution payment to a taxing jurisdiction for any fiscal year shall not be greater than the amount paid to such taxing jurisdiction for the twelve (12) months ended June 30, 1987;
(B) For purposes of subdivision (5)(A), "tax equivalent amount for the twelve (12) months ended June 30, 1987" means the tax equivalent amount actually expensed for, and applicable to such twelve (12) months, consistent with the power contract, in effect during such twelve (12) months, between the municipality and the Tennessee valley authority. Thereafter, such maximum amount for any fiscal year shall not exceed the maximum amount calculated as provided in subdivision (1). All such maximum amounts shall be subject to the conditions and limitations of subdivisions (2), (3) and (4); and
(6) Notwithstanding anything in subdivisions (1)-(5) that might be construed to the contrary, properly authorized retail sales or use taxes on electric power or energy at the same rates applicable generally to sales or use of personal property or services, including natural or artificial gas, coal, and fuel oil, as well as electric power or energy, imposed upon the vendees or users of electric power or energy by the state, a county, or a city, including a municipality, on a statewide, countywide, or citywide basis, respectively, shall not be considered a tax or charge on the municipality's electric system or its electric operations or properties for purposes of this part.
Acts 1987, ch. 84, § 5.
Tenn. Code Ann. § 7-21-204 — TN Code / Title 7 / Chapter 21 / Section 7-21-204
Meetings - Preparation and filing of proposed charter - Action by legislative bodies - Publication of proposed charter
Status: in_force

(a) All meetings of the charter commission shall be held in compliance with the open meetings law, compiled in title 8, chapter 44. (b) The charter commission shall prepare and file the charter proposed by it not later than the date provided in the proclamations or resolutions creating the charter commission, or within such extended limit of time as may be authorized by resolutions of the respective legislative bodies of the county and principal city. (c) (1) The chair of the charter commission shall certify and file two (2) copies of such proposed charter with the county clerk and one (1) copy with the clerk of the city legislative body of each municipality in the county. Such copies shall be public records, available for inspection or examination by any interested person. Within sixty (60) days from the certifications and filings under this subdivision (c)(1), the county legislative body and the city legislative body of the principal city shall either endorse or disapprove the proposed charter. Failure to act within the required time shall be deemed to be a favorable endorsement by the subject legislative body. (2) (A) Within the sixty-day period provided in subdivision (c)(1), the city legislative body of each smaller city shall, by resolution, elect and determine whether or not to direct the county election commission to place on the ballots to be used only by voters within such smaller city a question for such voters, in addition to the question of consolidation of principal city and county governmental functions, which additional question shall be stated as follows: For the city (town) of ____________________ surrendering its charter, terminating its separate existence, thereby becoming a part of the home rule unified government. Against the city (town) of ____________________ surrendering its charter, terminating its separate existence, thereby becoming a part of the home rule unified government (B) Failure of any smaller city legislative body to act within the required time shall be deemed to be a favorable determination to place such question upon the ballots to be used by voters within the smaller city at the time the issue of unification is presented to the voters of the county in which the smaller city is located. (3) Within five (5) days following the favorable endorsement or disapproval by the city legislative body of the principal city, and within five (5) days following the passage of the resolution or resolutions to place or not to place the additional questions set forth in subdivision (c)(2) upon the ballot of the respective smaller city or cities, the clerk of the city legislative body of each respective municipality shall certify a copy of such legislative bodies' resolution or resolutions to the county clerk and shall cause a copy of such resolution or resolutions to be published in a newspaper of general circulation within the county. (4) After action, if any, by the county legislative body and receipt of certifications, if any, from each of the clerks of the city legislative bodies of each of the principal city and smaller city or cities, or following the expiration of seventy (70) days from the receipt from the chair of the charter commission of the certified proposed charter, whichever shall first occur, the county clerk shall promptly file with the county election commission one (1) copy of such certified proposed charter, together with the certified resolutions of endorsement or disapproval, if any, of the county legislative body and of the city legislative body of the principal city and certified resolutions, if any, of the smaller city or cities directing or denying placement of the additional question on the ballot of the smaller city or cities. (d) The charter commission shall furnish or make available to every daily or weekly newspaper published in the county a complete copy of the proposed charter. The charter commission shall take such other steps within the limitation of its available funds as it deems reasonable and appropriate to inform the public throughout the county of the contents of the proposed charter, and the same may be published or summarized in pamphlets and booklets to be made available for general distribution. Acts 1991, ch. 497, § 204.
(a) All meetings of the charter commission shall be held in compliance with the open meetings law, compiled in title 8, chapter 44.
(b) The charter commission shall prepare and file the charter proposed by it not later than the date provided in the proclamations or resolutions creating the charter commission, or within such extended limit of time as may be authorized by resolutions of the respective legislative bodies of the county and principal city.
(c) (1) The chair of the charter commission shall certify and file two (2) copies of such proposed charter with the county clerk and one (1) copy with the clerk of the city legislative body of each municipality in the county. Such copies shall be public records, available for inspection or examination by any interested person. Within sixty (60) days from the certifications and filings under this subdivision (c)(1), the county legislative body and the city legislative body of the principal city shall either endorse or disapprove the proposed charter. Failure to act within the required time shall be deemed to be a favorable endorsement by the subject legislative body. (2) (A) Within the sixty-day period provided in subdivision (c)(1), the city legislative body of each smaller city shall, by resolution, elect and determine whether or not to direct the county election commission to place on the ballots to be used only by voters within such smaller city a question for such voters, in addition to the question of consolidation of principal city and county governmental functions, which additional question shall be stated as follows: For the city (town) of ____________________ surrendering its charter, terminating its separate existence, thereby becoming a part of the home rule unified government. Against the city (town) of ____________________ surrendering its charter, terminating its separate existence, thereby becoming a part of the home rule unified government (B) Failure of any smaller city legislative body to act within the required time shall be deemed to be a favorable determination to place such question upon the ballots to be used by voters within the smaller city at the time the issue of unification is presented to the voters of the county in which the smaller city is located. (3) Within five (5) days following the favorable endorsement or disapproval by the city legislative body of the principal city, and within five (5) days following the passage of the resolution or resolutions to place or not to place the additional questions set forth in subdivision (c)(2) upon the ballot of the respective smaller city or cities, the clerk of the city legislative body of each respective municipality shall certify a copy of such legislative bodies' resolution or resolutions to the county clerk and shall cause a copy of such resolution or resolutions to be published in a newspaper of general circulation within the county. (4) After action, if any, by the county legislative body and receipt of certifications, if any, from each of the clerks of the city legislative bodies of each of the principal city and smaller city or cities, or following the expiration of seventy (70) days from the receipt from the chair of the charter commission of the certified proposed charter, whichever shall first occur, the county clerk shall promptly file with the county election commission one (1) copy of such certified proposed charter, together with the certified resolutions of endorsement or disapproval, if any, of the county legislative body and of the city legislative body of the principal city and certified resolutions, if any, of the smaller city or cities directing or denying placement of the additional question on the ballot of the smaller city or cities.
(1) The chair of the charter commission shall certify and file two (2) copies of such proposed charter with the county clerk and one (1) copy with the clerk of the city legislative body of each municipality in the county. Such copies shall be public records, available for inspection or examination by any interested person. Within sixty (60) days from the certifications and filings under this subdivision (c)(1), the county legislative body and the city legislative body of the principal city shall either endorse or disapprove the proposed charter. Failure to act within the required time shall be deemed to be a favorable endorsement by the subject legislative body.
(2) (A) Within the sixty-day period provided in subdivision (c)(1), the city legislative body of each smaller city shall, by resolution, elect and determine whether or not to direct the county election commission to place on the ballots to be used only by voters within such smaller city a question for such voters, in addition to the question of consolidation of principal city and county governmental functions, which additional question shall be stated as follows: For the city (town) of ____________________ surrendering its charter, terminating its separate existence, thereby becoming a part of the home rule unified government. Against the city (town) of ____________________ surrendering its charter, terminating its separate existence, thereby becoming a part of the home rule unified government (B) Failure of any smaller city legislative body to act within the required time shall be deemed to be a favorable determination to place such question upon the ballots to be used by voters within the smaller city at the time the issue of unification is presented to the voters of the county in which the smaller city is located.
(A) Within the sixty-day period provided in subdivision (c)(1), the city legislative body of each smaller city shall, by resolution, elect and determine whether or not to direct the county election commission to place on the ballots to be used only by voters within such smaller city a question for such voters, in addition to the question of consolidation of principal city and county governmental functions, which additional question shall be stated as follows: For the city (town) of ____________________ surrendering its charter, terminating its separate existence, thereby becoming a part of the home rule unified government. Against the city (town) of ____________________ surrendering its charter, terminating its separate existence, thereby becoming a part of the home rule unified government
For the city (town) of ____________________ surrendering its charter, terminating its separate existence, thereby becoming a part of the home rule unified government.
Against the city (town) of ____________________ surrendering its charter, terminating its separate existence, thereby becoming a part of the home rule unified government
(B) Failure of any smaller city legislative body to act within the required time shall be deemed to be a favorable determination to place such question upon the ballots to be used by voters within the smaller city at the time the issue of unification is presented to the voters of the county in which the smaller city is located.
(3) Within five (5) days following the favorable endorsement or disapproval by the city legislative body of the principal city, and within five (5) days following the passage of the resolution or resolutions to place or not to place the additional questions set forth in subdivision (c)(2) upon the ballot of the respective smaller city or cities, the clerk of the city legislative body of each respective municipality shall certify a copy of such legislative bodies' resolution or resolutions to the county clerk and shall cause a copy of such resolution or resolutions to be published in a newspaper of general circulation within the county.
(4) After action, if any, by the county legislative body and receipt of certifications, if any, from each of the clerks of the city legislative bodies of each of the principal city and smaller city or cities, or following the expiration of seventy (70) days from the receipt from the chair of the charter commission of the certified proposed charter, whichever shall first occur, the county clerk shall promptly file with the county election commission one (1) copy of such certified proposed charter, together with the certified resolutions of endorsement or disapproval, if any, of the county legislative body and of the city legislative body of the principal city and certified resolutions, if any, of the smaller city or cities directing or denying placement of the additional question on the ballot of the smaller city or cities.
(d) The charter commission shall furnish or make available to every daily or weekly newspaper published in the county a complete copy of the proposed charter. The charter commission shall take such other steps within the limitation of its available funds as it deems reasonable and appropriate to inform the public throughout the county of the contents of the proposed charter, and the same may be published or summarized in pamphlets and booklets to be made available for general distribution.
Acts 1991, ch. 497, § 204.
Tenn. Code Ann. § 7-39-305 — TN Code / Title 7 / Chapter 39 / Section 7-39-305
Issuance of bonds - Restrictions on payment - Additional issues - Refunding - Construction - Interest rates - Sale of bonds - Contracts and agreements - Liability - Calculating applicable formula rate
Status: in_force

(a) All bonds issued by the corporation shall be payable solely out of the revenues and receipts derived from the corporation's activities pursuant to the powers and purposes set forth in this part; provided, that notes issued in anticipation of the issuance of bonds may be retired out of the proceeds of such bonds. Such bonds may be executed and delivered by the corporation, at any time and from time to time, may be in such form and denominations and of such terms and maturities, may be in registered or bearer form, either as to principal or interest, or both, may be payable in such installments and at such time or times not exceeding forty (40) years from the date of issuance, may be payable at such place or places whether within or without the state of Tennessee, may bear interest at such rate or rates payable at such time or times and at such place or places and evidenced in such manner, may be executed by such officers of the corporation, and may contain such provisions not inconsistent with this part, as shall be provided in the proceedings of the board of directors whereunder the bonds shall be authorized to be issued. If deemed advisable by the board of directors, there may be retained in the proceedings under which any bonds of the corporation are authorized to be issued an option to redeem all or any part of the bonds as may be specified in such proceedings, at such price or prices and after such notice or notices and on such terms and conditions as may be set forth in such proceedings and as may be briefly recited in the face of the bonds, but nothing contained in this section shall be construed to confer on the corporation any right or option to redeem any bonds except as may be provided in the proceedings under which they shall be issued. Any bonds of the corporation may be sold at public or private sale in such manner, at such price and from time to time as may be determined by the board of directors of the corporation to be most advantageous, and the corporation may pay all expenses, premiums and commissions that its board of directors may deem necessary or advantageous in connection with the issuance of the bonds. Issuance by the corporation of one (1) or more series of bonds for one (1) or more purposes shall not preclude it from issuing other bonds in connection with the same project or any other project, but the proceedings under which any subsequent bonds may be issued shall recognize and protect any prior pledge or mortgage made for any prior issue of bonds. Proceeds of bonds issued by the corporation may be used for the promotion of any of the purposes of the corporation as set forth in this chapter, including the establishment of a reasonable reserve fund for the payment of principal of and interest on such bonds in the event of a deficiency in the revenues and receipts available for the payment. Any bonds of a corporation may be issued bearing a fixed interest rate or a rate that varies from time to time or a rate that is established from time to time during the term of the bonds and may be issued granting to the owners of the bonds put rights and such other rights as the board of directors of the corporation shall determine. In connection with the issuance of its bonds, a corporation is authorized to enter into such additional agreements as shall be necessary to facilitate the issuance and sale of the bonds or establishment of the interest rate or rates, including agreements providing for liquidity and credit enhancement, and reimbursement agreements relating to the bonds. (b) Any bonds or notes of the corporation at any time outstanding may, at any time and from time to time, be refunded by the corporation by the issuance of its refunding bonds in such amount as the board of directors may deem necessary, but not exceeding: (1) The principal amount of the obligations being refinanced; (2) Applicable redemption premiums on the refunding bonds; (3) Unpaid interest of such obligations to the date of delivery or exchange of the refunding bonds; (4) In the event the proceeds from the sale of the refunding bonds are to be deposited in trust as provided in subdivision (d)(2), interest to accrue on such obligations from the date of delivery to the date of maturity or to the first redemption date, whichever shall be earlier; and (5) Expenses, premiums and commissions of the corporation deemed by the board of directors to be necessary in connection with the issuance of the refunding bonds. (c) Any such refunding may be effected whether the obligations to be refunded shall have then matured or shall thereafter mature, either by the exchange of the refunding bonds for the obligations to be refunded by the refunding bonds with the consent of the holders of the obligations so to be refunded, or by sale of the refunding bonds and the application of the proceeds of the sale to the payment of the obligations to be refunded by the refunding bonds, and regardless of whether or not the obligations to be refunded were issued in connection with the same projects or separate projects, and regardless of whether or not the obligations proposed to be refunded shall be payable on the same date or different dates or shall be due serially or otherwise. (d) The principal proceeds from the sale of any refunding bonds shall be applied only as follows either to: (1) The immediate payment and retirement of the obligations being refunded; or (2) The extent not required for the immediate payment of the obligations being refunded, then the proceeds shall be deposited in trust to provide for the payment and retirement of the obligations being refunded, and to pay any expenses incurred in connection with such refunding, but may also be used to pay interest on the refunding bonds prior to the retirement of the obligations being refunded. Money in any such trust fund may be invested in direct obligations of or obligations the principal of and interest on which are guaranteed by the United States government, or obligations of any agency or instrumentality of the United States government, or in certificates of deposit issued by a bank or trust company located in the state of Tennessee, if such certificates shall be secured by a pledge of any of such obligations having an aggregate market value, exclusive of accrued interest, equal at least to the principal amount of the certificates so secured. Nothing in this subdivision (d)(2) shall be construed as a limitation on the duration of any deposit in trust for the retirement of obligations being refunded but which shall not have matured and which shall not be presently redeemable. (e) All bonds, refunding bonds and the interest coupons applicable to the bonds are hereby made and shall be construed to be negotiable instruments. (f) With respect to all or any portion of any issue of bonds issued or anticipated to be issued under this section, at any time during the term of the bonds, and upon receipt of a report of the comptroller of the treasury or the comptroller's designee finding that the contracts and agreements authorized in this section are in compliance with the guidelines, rules or regulations as set forth in subsection (i), a corporation by resolution may authorize and enter into interest rate swap or exchange agreements, agreements establishing interest rate floors or ceilings, or both, and other interest rate hedging agreements under such terms and conditions as the board of directors of the corporation may determine, including, but not limited to, provisions permitting the corporation to pay to or receive from any person or entity any loss of benefits under such agreement upon early termination of the agreement or default under such agreement. (g) The governing body of a corporation may enter into an agreement to sell its bonds under this part providing for delivery of its bonds on a date greater than ninety (90) days and not greater than five (5) years, or such greater period of time if approved by the comptroller of the treasury or the comptroller's designee, from the date of execution of such agreement only upon receipt of a report of the comptroller of the treasury or the comptroller's designee finding that such an agreement or contract of a corporation to sell its bonds as authorized in this subsection (g) is in compliance with the guidelines, rules or regulations adopted or promulgated by the state funding board in accordance with subsection (i). Agreements to sell bonds for delivery ninety (90) days or less from the date of execution of the agreement to sell the bonds do not require a report of the comptroller of the treasury or the comptroller's designee. (h) Prior to the adoption or promulgation by the state funding board of guidelines, rules or regulations with respect to the contracts and agreements authorized in subsections (f) and (g), a corporation may enter into such contracts or agreements to the extent otherwise authorized in this chapter or in any other law, notwithstanding subsections (f) and (g). Nothing in this section is intended to alter any existing authority in this chapter or in any other law otherwise providing authority for a corporation to enter into the contracts or agreements described in subsections (f) and (g) heretofore entered into prior to the adoption or promulgation by the state funding board of guidelines, rules or regulations. (i) (1) The state funding board shall establish guidelines, rules or regulations with respect to the agreements and contracts authorized in subsections (f) and (g), which may include, but shall not be limited to, the following: (A) The conditions under which such agreements or contracts can be entered into; (B) The methods by which such contracts are to be solicited and procured; (C) The form and content such contracts shall take; (D) The aspects of risk exposure associated with such contracts; (E) The standards and procedures for counterparty selection, including rating criteria; (F) The procurement of credit enhancement, liquidity facilities, or the setting aside of reserves in connection with such contracts or agreements; (G) The methods of securing the financial interest in such contracts; (H) The methods to be used to reflect such contracts in the corporation's financial statements; (I) Financial monitoring and periodic assessment of such contracts by the corporation; (J) The application and source of nonperiodic payments; and (K) Educational requirements for officials of any corporation responsible for approving any such contract or agreement. (2) Prior to the adoption by the board of directors of the corporation of a resolution authorizing such contract or agreement, a request shall be submitted to the comptroller of the treasury or the comptroller's designee for a report finding that such contract or agreement is in compliance with the guidelines, rules or regulations of the state funding board. Within fifteen (15) days of receipt of the request, the comptroller of the treasury or the comptroller's designee shall determine whether the contract or agreement substantially complies with the guidelines, rules or regulations and shall report on the compliance to the corporation. If the report of the comptroller of the treasury or the comptroller's designee finds that the contract or agreement complies with the guidelines, rules or regulations of the state funding board or the comptroller of the treasury shall fail to report within the fifteen-day period, then the corporation may take such action with respect to the proposed contract or agreement as it deems advisable in accordance with this section and the guidelines, rules or regulations of the state funding board. If the report of the comptroller of the treasury or the comptroller's designee finds that such contract or agreement is not in compliance with the guidelines, rules or regulations, then the corporation is not authorized to enter into such contract or agreement. The guidelines, rules or regulations shall provide for a process for the appeal of a determination of noncompliance. (j) Neither an associated municipality nor any municipality, acquisition corporation or other entity purchasing natural gas or electrical power from the corporation shall in any event be liable for the payment of the principal of or interest on any bonds, notes or other obligations of the corporation, or for the performance of any pledge, mortgage, obligation or agreement of any kind whatsoever that may be undertaken by the corporation and none of the bonds, notes or other obligations of the corporation nor any of its agreements or obligations shall be construed to constitute an indebtedness of any associated municipality, acquisition corporation or other entity purchasing natural gas or electrical power from the acquisition corporation, within the meaning of any constitutional or statutory provision whatsoever, except to the extent the associated municipality, acquisition corporation, or other entity shall have guaranteed or assumed the payment of any bonds, notes or other obligations of such corporation or pledged its revenues to the payment of any bonds, notes or obligations of the corporation pursuant to the terms of § 7-39-304 or of any other provision of applicable law. (k) When entering into an interest rate agreement authorized by this section, a corporation may secure its obligations under the agreement, including its obligation for termination or other nonperiodic payments, with the revenues available to secure the bonds with respect to which such interest rate agreement is entered into. (l) For purposes of calculating the "applicable formula rate" under § 47-14-103 and the related provisions of title 47, chapter 14, to determine the maximum effective rate applicable to bonds or other obligations issued by energy acquisition corporations, the language "four (4) percentage points above the average prime loan rate" in the definition of "formula rate" in § 47-14-102 shall be replaced with the language "seven (7) percentage points above the average prime loan rate." This subsection ( l ) shall apply to any bonds or other obligations issued by energy acquisition corporations on or before June 30, 2012. Acts 1977, ch. 299, § 11; T.C.A., § 6-4211; Acts 1999, ch. 345, §§ 15 - 17; 2004, ch. 589, § 4; 2010 , ch. 693, § 1.
(a) All bonds issued by the corporation shall be payable solely out of the revenues and receipts derived from the corporation's activities pursuant to the powers and purposes set forth in this part; provided, that notes issued in anticipation of the issuance of bonds may be retired out of the proceeds of such bonds. Such bonds may be executed and delivered by the corporation, at any time and from time to time, may be in such form and denominations and of such terms and maturities, may be in registered or bearer form, either as to principal or interest, or both, may be payable in such installments and at such time or times not exceeding forty (40) years from the date of issuance, may be payable at such place or places whether within or without the state of Tennessee, may bear interest at such rate or rates payable at such time or times and at such place or places and evidenced in such manner, may be executed by such officers of the corporation, and may contain such provisions not inconsistent with this part, as shall be provided in the proceedings of the board of directors whereunder the bonds shall be authorized to be issued. If deemed advisable by the board of directors, there may be retained in the proceedings under which any bonds of the corporation are authorized to be issued an option to redeem all or any part of the bonds as may be specified in such proceedings, at such price or prices and after such notice or notices and on such terms and conditions as may be set forth in such proceedings and as may be briefly recited in the face of the bonds, but nothing contained in this section shall be construed to confer on the corporation any right or option to redeem any bonds except as may be provided in the proceedings under which they shall be issued. Any bonds of the corporation may be sold at public or private sale in such manner, at such price and from time to time as may be determined by the board of directors of the corporation to be most advantageous, and the corporation may pay all expenses, premiums and commissions that its board of directors may deem necessary or advantageous in connection with the issuance of the bonds. Issuance by the corporation of one (1) or more series of bonds for one (1) or more purposes shall not preclude it from issuing other bonds in connection with the same project or any other project, but the proceedings under which any subsequent bonds may be issued shall recognize and protect any prior pledge or mortgage made for any prior issue of bonds. Proceeds of bonds issued by the corporation may be used for the promotion of any of the purposes of the corporation as set forth in this chapter, including the establishment of a reasonable reserve fund for the payment of principal of and interest on such bonds in the event of a deficiency in the revenues and receipts available for the payment. Any bonds of a corporation may be issued bearing a fixed interest rate or a rate that varies from time to time or a rate that is established from time to time during the term of the bonds and may be issued granting to the owners of the bonds put rights and such other rights as the board of directors of the corporation shall determine. In connection with the issuance of its bonds, a corporation is authorized to enter into such additional agreements as shall be necessary to facilitate the issuance and sale of the bonds or establishment of the interest rate or rates, including agreements providing for liquidity and credit enhancement, and reimbursement agreements relating to the bonds.
(b) Any bonds or notes of the corporation at any time outstanding may, at any time and from time to time, be refunded by the corporation by the issuance of its refunding bonds in such amount as the board of directors may deem necessary, but not exceeding: (1) The principal amount of the obligations being refinanced; (2) Applicable redemption premiums on the refunding bonds; (3) Unpaid interest of such obligations to the date of delivery or exchange of the refunding bonds; (4) In the event the proceeds from the sale of the refunding bonds are to be deposited in trust as provided in subdivision (d)(2), interest to accrue on such obligations from the date of delivery to the date of maturity or to the first redemption date, whichever shall be earlier; and (5) Expenses, premiums and commissions of the corporation deemed by the board of directors to be necessary in connection with the issuance of the refunding bonds.
(1) The principal amount of the obligations being refinanced;
(2) Applicable redemption premiums on the refunding bonds;
(3) Unpaid interest of such obligations to the date of delivery or exchange of the refunding bonds;
(4) In the event the proceeds from the sale of the refunding bonds are to be deposited in trust as provided in subdivision (d)(2), interest to accrue on such obligations from the date of delivery to the date of maturity or to the first redemption date, whichever shall be earlier; and
(5) Expenses, premiums and commissions of the corporation deemed by the board of directors to be necessary in connection with the issuance of the refunding bonds.
(c) Any such refunding may be effected whether the obligations to be refunded shall have then matured or shall thereafter mature, either by the exchange of the refunding bonds for the obligations to be refunded by the refunding bonds with the consent of the holders of the obligations so to be refunded, or by sale of the refunding bonds and the application of the proceeds of the sale to the payment of the obligations to be refunded by the refunding bonds, and regardless of whether or not the obligations to be refunded were issued in connection with the same projects or separate projects, and regardless of whether or not the obligations proposed to be refunded shall be payable on the same date or different dates or shall be due serially or otherwise.
(d) The principal proceeds from the sale of any refunding bonds shall be applied only as follows either to: (1) The immediate payment and retirement of the obligations being refunded; or (2) The extent not required for the immediate payment of the obligations being refunded, then the proceeds shall be deposited in trust to provide for the payment and retirement of the obligations being refunded, and to pay any expenses incurred in connection with such refunding, but may also be used to pay interest on the refunding bonds prior to the retirement of the obligations being refunded. Money in any such trust fund may be invested in direct obligations of or obligations the principal of and interest on which are guaranteed by the United States government, or obligations of any agency or instrumentality of the United States government, or in certificates of deposit issued by a bank or trust company located in the state of Tennessee, if such certificates shall be secured by a pledge of any of such obligations having an aggregate market value, exclusive of accrued interest, equal at least to the principal amount of the certificates so secured. Nothing in this subdivision (d)(2) shall be construed as a limitation on the duration of any deposit in trust for the retirement of obligations being refunded but which shall not have matured and which shall not be presently redeemable.
(1) The immediate payment and retirement of the obligations being refunded; or
(2) The extent not required for the immediate payment of the obligations being refunded, then the proceeds shall be deposited in trust to provide for the payment and retirement of the obligations being refunded, and to pay any expenses incurred in connection with such refunding, but may also be used to pay interest on the refunding bonds prior to the retirement of the obligations being refunded. Money in any such trust fund may be invested in direct obligations of or obligations the principal of and interest on which are guaranteed by the United States government, or obligations of any agency or instrumentality of the United States government, or in certificates of deposit issued by a bank or trust company located in the state of Tennessee, if such certificates shall be secured by a pledge of any of such obligations having an aggregate market value, exclusive of accrued interest, equal at least to the principal amount of the certificates so secured. Nothing in this subdivision (d)(2) shall be construed as a limitation on the duration of any deposit in trust for the retirement of obligations being refunded but which shall not have matured and which shall not be presently redeemable.
(e) All bonds, refunding bonds and the interest coupons applicable to the bonds are hereby made and shall be construed to be negotiable instruments.
(f) With respect to all or any portion of any issue of bonds issued or anticipated to be issued under this section, at any time during the term of the bonds, and upon receipt of a report of the comptroller of the treasury or the comptroller's designee finding that the contracts and agreements authorized in this section are in compliance with the guidelines, rules or regulations as set forth in subsection (i), a corporation by resolution may authorize and enter into interest rate swap or exchange agreements, agreements establishing interest rate floors or ceilings, or both, and other interest rate hedging agreements under such terms and conditions as the board of directors of the corporation may determine, including, but not limited to, provisions permitting the corporation to pay to or receive from any person or entity any loss of benefits under such agreement upon early termination of the agreement or default under such agreement.
(g) The governing body of a corporation may enter into an agreement to sell its bonds under this part providing for delivery of its bonds on a date greater than ninety (90) days and not greater than five (5) years, or such greater period of time if approved by the comptroller of the treasury or the comptroller's designee, from the date of execution of such agreement only upon receipt of a report of the comptroller of the treasury or the comptroller's designee finding that such an agreement or contract of a corporation to sell its bonds as authorized in this subsection (g) is in compliance with the guidelines, rules or regulations adopted or promulgated by the state funding board in accordance with subsection (i). Agreements to sell bonds for delivery ninety (90) days or less from the date of execution of the agreement to sell the bonds do not require a report of the comptroller of the treasury or the comptroller's designee.
(h) Prior to the adoption or promulgation by the state funding board of guidelines, rules or regulations with respect to the contracts and agreements authorized in subsections (f) and (g), a corporation may enter into such contracts or agreements to the extent otherwise authorized in this chapter or in any other law, notwithstanding subsections (f) and (g). Nothing in this section is intended to alter any existing authority in this chapter or in any other law otherwise providing authority for a corporation to enter into the contracts or agreements described in subsections (f) and (g) heretofore entered into prior to the adoption or promulgation by the state funding board of guidelines, rules or regulations.
(i) (1) The state funding board shall establish guidelines, rules or regulations with respect to the agreements and contracts authorized in subsections (f) and (g), which may include, but shall not be limited to, the following: (A) The conditions under which such agreements or contracts can be entered into; (B) The methods by which such contracts are to be solicited and procured; (C) The form and content such contracts shall take; (D) The aspects of risk exposure associated with such contracts; (E) The standards and procedures for counterparty selection, including rating criteria; (F) The procurement of credit enhancement, liquidity facilities, or the setting aside of reserves in connection with such contracts or agreements; (G) The methods of securing the financial interest in such contracts; (H) The methods to be used to reflect such contracts in the corporation's financial statements; (I) Financial monitoring and periodic assessment of such contracts by the corporation; (J) The application and source of nonperiodic payments; and (K) Educational requirements for officials of any corporation responsible for approving any such contract or agreement. (2) Prior to the adoption by the board of directors of the corporation of a resolution authorizing such contract or agreement, a request shall be submitted to the comptroller of the treasury or the comptroller's designee for a report finding that such contract or agreement is in compliance with the guidelines, rules or regulations of the state funding board. Within fifteen (15) days of receipt of the request, the comptroller of the treasury or the comptroller's designee shall determine whether the contract or agreement substantially complies with the guidelines, rules or regulations and shall report on the compliance to the corporation. If the report of the comptroller of the treasury or the comptroller's designee finds that the contract or agreement complies with the guidelines, rules or regulations of the state funding board or the comptroller of the treasury shall fail to report within the fifteen-day period, then the corporation may take such action with respect to the proposed contract or agreement as it deems advisable in accordance with this section and the guidelines, rules or regulations of the state funding board. If the report of the comptroller of the treasury or the comptroller's designee finds that such contract or agreement is not in compliance with the guidelines, rules or regulations, then the corporation is not authorized to enter into such contract or agreement. The guidelines, rules or regulations shall provide for a process for the appeal of a determination of noncompliance.
(1) The state funding board shall establish guidelines, rules or regulations with respect to the agreements and contracts authorized in subsections (f) and (g), which may include, but shall not be limited to, the following: (A) The conditions under which such agreements or contracts can be entered into; (B) The methods by which such contracts are to be solicited and procured; (C) The form and content such contracts shall take; (D) The aspects of risk exposure associated with such contracts; (E) The standards and procedures for counterparty selection, including rating criteria; (F) The procurement of credit enhancement, liquidity facilities, or the setting aside of reserves in connection with such contracts or agreements; (G) The methods of securing the financial interest in such contracts; (H) The methods to be used to reflect such contracts in the corporation's financial statements; (I) Financial monitoring and periodic assessment of such contracts by the corporation; (J) The application and source of nonperiodic payments; and (K) Educational requirements for officials of any corporation responsible for approving any such contract or agreement.
(A) The conditions under which such agreements or contracts can be entered into;
(B) The methods by which such contracts are to be solicited and procured;
(C) The form and content such contracts shall take;
(D) The aspects of risk exposure associated with such contracts;
(E) The standards and procedures for counterparty selection, including rating criteria;
(F) The procurement of credit enhancement, liquidity facilities, or the setting aside of reserves in connection with such contracts or agreements;
(G) The methods of securing the financial interest in such contracts;
(H) The methods to be used to reflect such contracts in the corporation's financial statements;
(I) Financial monitoring and periodic assessment of such contracts by the corporation;
(J) The application and source of nonperiodic payments; and
(K) Educational requirements for officials of any corporation responsible for approving any such contract or agreement.
(2) Prior to the adoption by the board of directors of the corporation of a resolution authorizing such contract or agreement, a request shall be submitted to the comptroller of the treasury or the comptroller's designee for a report finding that such contract or agreement is in compliance with the guidelines, rules or regulations of the state funding board. Within fifteen (15) days of receipt of the request, the comptroller of the treasury or the comptroller's designee shall determine whether the contract or agreement substantially complies with the guidelines, rules or regulations and shall report on the compliance to the corporation. If the report of the comptroller of the treasury or the comptroller's designee finds that the contract or agreement complies with the guidelines, rules or regulations of the state funding board or the comptroller of the treasury shall fail to report within the fifteen-day period, then the corporation may take such action with respect to the proposed contract or agreement as it deems advisable in accordance with this section and the guidelines, rules or regulations of the state funding board. If the report of the comptroller of the treasury or the comptroller's designee finds that such contract or agreement is not in compliance with the guidelines, rules or regulations, then the corporation is not authorized to enter into such contract or agreement. The guidelines, rules or regulations shall provide for a process for the appeal of a determination of noncompliance.
(j) Neither an associated municipality nor any municipality, acquisition corporation or other entity purchasing natural gas or electrical power from the corporation shall in any event be liable for the payment of the principal of or interest on any bonds, notes or other obligations of the corporation, or for the performance of any pledge, mortgage, obligation or agreement of any kind whatsoever that may be undertaken by the corporation and none of the bonds, notes or other obligations of the corporation nor any of its agreements or obligations shall be construed to constitute an indebtedness of any associated municipality, acquisition corporation or other entity purchasing natural gas or electrical power from the acquisition corporation, within the meaning of any constitutional or statutory provision whatsoever, except to the extent the associated municipality, acquisition corporation, or other entity shall have guaranteed or assumed the payment of any bonds, notes or other obligations of such corporation or pledged its revenues to the payment of any bonds, notes or obligations of the corporation pursuant to the terms of § 7-39-304 or of any other provision of applicable law.
(k) When entering into an interest rate agreement authorized by this section, a corporation may secure its obligations under the agreement, including its obligation for termination or other nonperiodic payments, with the revenues available to secure the bonds with respect to which such interest rate agreement is entered into.
(l) For purposes of calculating the "applicable formula rate" under § 47-14-103 and the related provisions of title 47, chapter 14, to determine the maximum effective rate applicable to bonds or other obligations issued by energy acquisition corporations, the language "four (4) percentage points above the average prime loan rate" in the definition of "formula rate" in § 47-14-102 shall be replaced with the language "seven (7) percentage points above the average prime loan rate." This subsection ( l ) shall apply to any bonds or other obligations issued by energy acquisition corporations on or before June 30, 2012.
Acts 1977, ch. 299, § 11; T.C.A., § 6-4211; Acts 1999, ch. 345, §§ 15 - 17; 2004, ch. 589, § 4; 2010 , ch. 693, § 1.
Tenn. Code Ann. § 7-35-404 — TN Code / Title 7 / Chapter 35 / Section 7-35-404
Elements included in cost of works
Status: in_force

The costs of the works shall be deemed to include all the costs of acquisition or construction of the works, the costs of all property, rights, easements, and franchises deemed necessary or convenient for the works, and for the improvements determined upon as provided in § 7-35-420 ; interest upon bonds prior to and during construction or acquisition and for six (6) months after the completion of construction or acquisition of the improvements; engineering and legal expenses; expense for estimates of cost and of revenues; expense for plans, specifications and surveys; other expenses incident or necessary to determining the feasibility or practicability of the enterprise; administrative expense; and such other expenses as may be necessary to the financing authorized in this part and the construction or acquisition of the works and the placing of the works in operation and the performance of the things required in this part or permitted in connection with any of the provisions of this part. Acts 1933, ch. 68, § 10; C. Supp. 1950, § 3695.10; T.C.A. (orig. ed.), § 6-1411.
The costs of the works shall be deemed to include all the costs of acquisition or construction of the works, the costs of all property, rights, easements, and franchises deemed necessary or convenient for the works, and for the improvements determined upon as provided in § 7-35-420 ; interest upon bonds prior to and during construction or acquisition and for six (6) months after the completion of construction or acquisition of the improvements; engineering and legal expenses; expense for estimates of cost and of revenues; expense for plans, specifications and surveys; other expenses incident or necessary to determining the feasibility or practicability of the enterprise; administrative expense; and such other expenses as may be necessary to the financing authorized in this part and the construction or acquisition of the works and the placing of the works in operation and the performance of the things required in this part or permitted in connection with any of the provisions of this part.
Acts 1933, ch. 68, § 10; C. Supp. 1950, § 3695.10; T.C.A. (orig. ed.), § 6-1411.
Tenn. Code Ann. § 7-83-205 — TN Code / Title 7 / Chapter 83 / Section 7-83-205
[Repealed]
Status: repealed

Repealed by 2013 Tenn. Acts, ch. 211, s 6, eff. 7/1/2013. Acts 1935 (Ex. Sess.), ch. 4, § 5; C. Supp. 1950, § 3708.51 (Williams, § 3708.54); T.C.A. (orig. ed.), § 6-2707.
Repealed by 2013 Tenn. Acts, ch. 211, s 6, eff. 7/1/2013.
Acts 1935 (Ex. Sess.), ch. 4, § 5; C. Supp. 1950, § 3708.51 (Williams, § 3708.54); T.C.A. (orig. ed.), § 6-2707.
Tenn. Code Ann. § 7-66-101 — TN Code / Title 7 / Chapter 66 / Section 7-66-101
Short title
Status: in_force

This chapter shall be known and may be cited as the "Tennessee Homestead Act." Acts 1985, ch. 281, § 1.
This chapter shall be known and may be cited as the "Tennessee Homestead Act."
Acts 1985, ch. 281, § 1.
Tenn. Code Ann. § 7-51-605 — TN Code / Title 7 / Chapter 51 / Section 7-51-605
Part not applicable to "adult-oriented establishments"
Status: in_force

Nothing in this part shall apply to an adult-oriented establishment as defined in parts 11 and 14 of this chapter. Added by 2015 Tenn. Acts, ch. 130, s 1, eff. 4/9/2015.
Nothing in this part shall apply to an adult-oriented establishment as defined in parts 11 and 14 of this chapter.
Added by 2015 Tenn. Acts, ch. 130, s 1, eff. 4/9/2015.
Tenn. Code Ann. § 7-89-109 — TN Code / Title 7 / Chapter 89 / Section 7-89-109
Authority shall be public nonprofit corporation - Powers of authority
Status: in_force

Each convention center authority created pursuant to this chapter shall be a public nonprofit corporation and a public instrumentality of the municipality with respect to which the authority is organized. The authority shall have the following powers, together with all powers incidental to the following powers or necessary for the performance of those powers, to: (1) Have succession by its corporate name for the period specified in the charter, unless sooner dissolved as provided in § 7-89-119 ; (2) Sue and be sued and to prosecute and defend, at law or in equity, in any court having jurisdiction of the subject matter and of the parties; (3) Have and use a corporate seal and alter the seal at pleasure; (4) Acquire, whether by purchase, construction, exchange, gift, lease or otherwise, and design, plan, site, construct, improve, repair, extend, equip, furnish, operate and maintain one (1) or more projects, which projects shall be within at least one (1) of the municipalities with respect to which the authority has been created, including all real and personal properties that the board of directors of the authority may deem necessary in connection with the projects and regardless of whether or not any such projects shall then be in existence, and including the power to demolish such existing structures as may be on sites acquired when those structures are not needed for the project; (5) Appoint officers, agents and employees, describe their qualifications and fix their compensation; (6) Operate, maintain, manage and enter into contracts for the operation, maintenance and management of any project undertaken, and to make rules and regulations with regard to the operation, maintenance and management; (7) Employ, contract with, fix the compensation of and discharge engineering, architectural, legal, financial and other professional experts, consultants, agents and employees as may be necessary to carry out the purposes of this chapter and to provide for the proper construction, operation and maintenance of any project; (8) Lease, rent and contract for the operation of all or any part of any project and charge and collect rent for the project and terminate any such lease upon the failure of the lessee to comply with any of the obligations of the lease; and include in or exclude from any such lease provisions that the lessee shall have the option to renew the term of the lease for such period or periods and at such rent as shall be determined by the board of directors; (9) Lease such space in a project as from time to time may not be needed for convention center related purposes to any other person, corporation, partnership or association for such purposes as the board of directors may determine are in the best interest of the authority or will help facilitate the purposes for which the authority was created, and upon such terms and in such manner as the board may determine; (10) Fix and collect rates, rentals, fees and charges for the use of any and all of the projects of the authority and for the naming rights relating to any and all of the projects of the authority; (11) Make contracts, including, without limitation, contracts with vendors, concessionaires, tenants or convention center facility users, or both, occupant managers and service providers; (12) Advertise within or without the state any of the projects of the authority; (13) Sell, exchange, donate and convey any or all of its properties, whenever the board of directors shall find the action to be in furtherance of the purposes for which the authority was organized; provided, however, that the authority may not sell, exchange, donate or convey all or substantially all of its properties without the prior approval, by resolution, of the governing body of the municipality; (14) Procure and enter into contracts for any type of insurance, surety or performance bond, or indemnity against loss or damage to property from any cause, including, but not limited to, general errors and omissions, property loss and casualty, loss of use and occupancy, against death or injury of any person, against employer's liability, against any act of any member, officer or employee of the authority in the performance of the duties of such person's office or employment, or the authority itself, or any other insurable risk, as the board of directors, in its discretion, may deem necessary, and to exercise all rights, immunities and protections afforded by Tennessee law and the Governmental Tort Liability Act, compiled in title 29, chapter 20; (15) Accept donations, contributions, revenues, capital grants or gifts of any kind from any individuals, associations, public or private corporations and municipalities, the state or the United States, or any agency or instrumentality of the state or the United States, for or in aid of any of the purposes of this chapter and enter into agreements in connection with the donations, contributions, revenues, capital grants or gifts; (16) Enter into joint ventures with third parties for the purpose of owning a project or any portion of a project, on such terms and conditions as the board of directors of the authority may determine; (17) Borrow money from time to time and, in evidence of any obligation incurred, issue and sell its revenue bonds in accordance with this chapter, in such form and upon such terms as its board of directors may determine and as approved by resolution of the governing body of the creating municipality, payable out of any revenues of the authority, including grants or contributions or other revenues specifically provided to the authority, for the purpose of financing the cost of any project, refund and refinance, from time to time, revenue bonds so issued and sold as often as may be deemed to be advantageous by the board of directors and, pending the issuance of its revenue bonds for the purposes in this chapter authorized, issue its interim certificates or notes or other temporary obligations; (18) Enter into any agreement or contract with any lessee who, pursuant to the terms of this chapter, is renting or is about to rent from the authority all or part of any building or buildings or facilities, whereby, under such agreement or contract, the lessee obligates itself to pay all or part of the cost of maintaining and operating the premises so leased. The agreement may be included as a provision of any lease entered into pursuant to the terms of this chapter or may be made the subject of a separate agreement or contract between the authority and the lessee; (19) Mortgage and pledge as security for the payment of the principal of and interest on any revenue bonds so issued and any agreements made in connection with the bonds, any or all of the projects or any part or parts of the projects, whether then owned or thereafter acquired; (20) Exercise all powers expressly given in its charter and establish bylaws and make all rules and regulations not inconsistent with the charter or this chapter deemed expedient for the management of the affairs of the authority; (21) Acquire, whether by purchase, construction, exchange, gift, lease or otherwise, and improve, repair, extend, equip, furnish, operate and maintain any roads, streets, highways, curbs, bridges, flood control facilities, utility services such as water, sanitary sewer, electricity, gas and natural gas and telecommunications that the board of directors of the convention center authority deems to be necessary, expedient or advisable in connection with the development or operation of any project; dedicate any such highways, roads or services to the public use; enter into any contract to facilitate these purposes and make any payments required under the contracts; borrow funds for the purpose of making any payment authorized by this subdivision (21) and pledge and otherwise use the revenues of the authority to repay the borrowed funds; (22) Establish, secure, own, develop and hold patents, copyrights, trademarks and service marks and enforce its rights with respect to the copyrights and marks; and (23) Do all things necessary or convenient to carry out the powers expressly given in this chapter. Acts 2009, ch. 474, § 1.
Each convention center authority created pursuant to this chapter shall be a public nonprofit corporation and a public instrumentality of the municipality with respect to which the authority is organized. The authority shall have the following powers, together with all powers incidental to the following powers or necessary for the performance of those powers, to:
(1) Have succession by its corporate name for the period specified in the charter, unless sooner dissolved as provided in § 7-89-119 ;
(2) Sue and be sued and to prosecute and defend, at law or in equity, in any court having jurisdiction of the subject matter and of the parties;
(3) Have and use a corporate seal and alter the seal at pleasure;
(4) Acquire, whether by purchase, construction, exchange, gift, lease or otherwise, and design, plan, site, construct, improve, repair, extend, equip, furnish, operate and maintain one (1) or more projects, which projects shall be within at least one (1) of the municipalities with respect to which the authority has been created, including all real and personal properties that the board of directors of the authority may deem necessary in connection with the projects and regardless of whether or not any such projects shall then be in existence, and including the power to demolish such existing structures as may be on sites acquired when those structures are not needed for the project;
(5) Appoint officers, agents and employees, describe their qualifications and fix their compensation;
(6) Operate, maintain, manage and enter into contracts for the operation, maintenance and management of any project undertaken, and to make rules and regulations with regard to the operation, maintenance and management;
(7) Employ, contract with, fix the compensation of and discharge engineering, architectural, legal, financial and other professional experts, consultants, agents and employees as may be necessary to carry out the purposes of this chapter and to provide for the proper construction, operation and maintenance of any project;
(8) Lease, rent and contract for the operation of all or any part of any project and charge and collect rent for the project and terminate any such lease upon the failure of the lessee to comply with any of the obligations of the lease; and include in or exclude from any such lease provisions that the lessee shall have the option to renew the term of the lease for such period or periods and at such rent as shall be determined by the board of directors;
(9) Lease such space in a project as from time to time may not be needed for convention center related purposes to any other person, corporation, partnership or association for such purposes as the board of directors may determine are in the best interest of the authority or will help facilitate the purposes for which the authority was created, and upon such terms and in such manner as the board may determine;
(10) Fix and collect rates, rentals, fees and charges for the use of any and all of the projects of the authority and for the naming rights relating to any and all of the projects of the authority;
(11) Make contracts, including, without limitation, contracts with vendors, concessionaires, tenants or convention center facility users, or both, occupant managers and service providers;
(12) Advertise within or without the state any of the projects of the authority;
(13) Sell, exchange, donate and convey any or all of its properties, whenever the board of directors shall find the action to be in furtherance of the purposes for which the authority was organized; provided, however, that the authority may not sell, exchange, donate or convey all or substantially all of its properties without the prior approval, by resolution, of the governing body of the municipality;
(14) Procure and enter into contracts for any type of insurance, surety or performance bond, or indemnity against loss or damage to property from any cause, including, but not limited to, general errors and omissions, property loss and casualty, loss of use and occupancy, against death or injury of any person, against employer's liability, against any act of any member, officer or employee of the authority in the performance of the duties of such person's office or employment, or the authority itself, or any other insurable risk, as the board of directors, in its discretion, may deem necessary, and to exercise all rights, immunities and protections afforded by Tennessee law and the Governmental Tort Liability Act, compiled in title 29, chapter 20;
(15) Accept donations, contributions, revenues, capital grants or gifts of any kind from any individuals, associations, public or private corporations and municipalities, the state or the United States, or any agency or instrumentality of the state or the United States, for or in aid of any of the purposes of this chapter and enter into agreements in connection with the donations, contributions, revenues, capital grants or gifts;
(16) Enter into joint ventures with third parties for the purpose of owning a project or any portion of a project, on such terms and conditions as the board of directors of the authority may determine;
(17) Borrow money from time to time and, in evidence of any obligation incurred, issue and sell its revenue bonds in accordance with this chapter, in such form and upon such terms as its board of directors may determine and as approved by resolution of the governing body of the creating municipality, payable out of any revenues of the authority, including grants or contributions or other revenues specifically provided to the authority, for the purpose of financing the cost of any project, refund and refinance, from time to time, revenue bonds so issued and sold as often as may be deemed to be advantageous by the board of directors and, pending the issuance of its revenue bonds for the purposes in this chapter authorized, issue its interim certificates or notes or other temporary obligations;
(18) Enter into any agreement or contract with any lessee who, pursuant to the terms of this chapter, is renting or is about to rent from the authority all or part of any building or buildings or facilities, whereby, under such agreement or contract, the lessee obligates itself to pay all or part of the cost of maintaining and operating the premises so leased. The agreement may be included as a provision of any lease entered into pursuant to the terms of this chapter or may be made the subject of a separate agreement or contract between the authority and the lessee;
(19) Mortgage and pledge as security for the payment of the principal of and interest on any revenue bonds so issued and any agreements made in connection with the bonds, any or all of the projects or any part or parts of the projects, whether then owned or thereafter acquired;
(20) Exercise all powers expressly given in its charter and establish bylaws and make all rules and regulations not inconsistent with the charter or this chapter deemed expedient for the management of the affairs of the authority;
(21) Acquire, whether by purchase, construction, exchange, gift, lease or otherwise, and improve, repair, extend, equip, furnish, operate and maintain any roads, streets, highways, curbs, bridges, flood control facilities, utility services such as water, sanitary sewer, electricity, gas and natural gas and telecommunications that the board of directors of the convention center authority deems to be necessary, expedient or advisable in connection with the development or operation of any project; dedicate any such highways, roads or services to the public use; enter into any contract to facilitate these purposes and make any payments required under the contracts; borrow funds for the purpose of making any payment authorized by this subdivision (21) and pledge and otherwise use the revenues of the authority to repay the borrowed funds;
(22) Establish, secure, own, develop and hold patents, copyrights, trademarks and service marks and enforce its rights with respect to the copyrights and marks; and
(23) Do all things necessary or convenient to carry out the powers expressly given in this chapter.
Acts 2009, ch. 474, § 1.
Tenn. Code Ann. § 7-84-608 — TN Code / Title 7 / Chapter 84 / Section 7-84-608
Liberal construction
Status: in_force

This part, being necessary to secure and preserve the public health, safety, convenience and welfare, shall be liberally construed to effectuate its purposes. Acts 2003, ch. 195, § 1.
This part, being necessary to secure and preserve the public health, safety, convenience and welfare, shall be liberally construed to effectuate its purposes.
Acts 2003, ch. 195, § 1.
Tenn. Code Ann. § 7-82-502 — TN Code / Title 7 / Chapter 82 / Section 7-82-502
Terms of instruments
Status: in_force

(a) Such bonds shall be authorized by resolution of the board of the district, and may be issued in one (1) or more series; may bear such date or dates; may mature at such time or times not exceeding forty (40) years from their respective dates; may bear interest at such rate or rates, which may vary from time to time; may be in such form, either coupon or registered; may be executed in such manner; may be payable in such medium of payment, at such place or places, and be subject to such terms of redemption, with or without premium; and may contain such terms, covenants and conditions as such resolution or subsequent resolution may provide. The bonds may be issued for money or property and may be sold in such manner and upon such terms as the board shall determine. Pending the preparation of the definitive bonds, interim receipts or certificates in such form and with such provisions as the governing body may determine may be issued to the purchaser or purchasers of bonds sold pursuant to this chapter. The bonds and interim receipts or certificates shall be fully negotiable within the meaning of and for all purposes of the Uniform Commercial Code, compiled in title 47, chapter 3. (b) If any issue of such bonds is to be sold to an agency of the federal government or an agency of the state, such bond issue may, at the request of such agency, be delivered as an installment bond payable as to principal and interest in equal or approximately equal installments for the term of such bond issue, in accordance with the resolution authorizing such bond issue. Such authorizing resolution shall stipulate the annual principal and interest requirements during the full term of the bond issue. (c) With respect to all or any portion of any issue of bonds issued or anticipated to be issued under this chapter, at any time during the term of the bonds, and upon receipt of a report of the comptroller of the treasury or the comptroller's designee finding that the contracts and agreements authorized in this subsection (c) are in compliance with the guidelines, rules or regulations adopted or promulgated by the state funding board, as set forth in subsection (e), a utility district, by resolution, may authorize and enter into interest rate swap or exchange agreements, agreements establishing interest rate floors or ceilings or both, and other interest rate hedging agreements under such terms and conditions as the governing body of the utility district may determine, including, but not limited to, provisions permitting the utility district to pay to or receive from any person or entity any loss of benefits under such agreement upon early termination of the agreement or default under such agreement. (d) The governing body of a utility district may enter into an agreement to sell bonds, other than its refunding bonds, under this chapter, providing for delivery of the bonds on a date greater than ninety (90) days and not greater than five (5) years, or such greater period of time, if approved by the comptroller of the treasury or the comptroller's designee, from the date of execution of such agreement or to sell its refunding bonds under this chapter and in accordance with the Local Government Public Obligations Act of 1986, compiled in title 9, chapter 21, providing for delivery of its refunding bonds on a date greater than ninety (90) days from the date of execution of the agreement and not greater than the first optional redemption date on which the bonds being refunded can be optionally redeemed resulting in cost savings or at par, whichever is earlier, only upon receipt of a report of the comptroller of the treasury or the comptroller's designee finding that the agreement or contract of a utility district to sell its bonds, as authorized in this subsection (d), is in compliance with the guidelines, rules or regulations adopted or promulgated by the state funding board in accordance with subsection (e). Agreements to sell bonds or refunding bonds for delivery ninety (90) days or less from the date of execution of the agreement do not require a report of the comptroller of the treasury or the comptroller's designee. (e) (1) The state funding board shall establish guidelines, rules or regulations with respect to the agreements and contracts referenced in subsections (c) and (d), which may include, but shall not be limited to, the following: (A) The conditions under which such agreements or contracts can be entered into; (B) The methods by which such contracts are to be solicited and procured; (C) The form and content such contracts shall take; (D) The aspects of risk exposure associated with such contracts; (E) The standards and procedures for counterparty selection, including rating criteria; (F) The procurement of credit enhancement, liquidity facilities, or the setting aside of reserves in connection with such contracts or agreements; (G) The methods of securing the financial interest in such contracts; (H) The methods to be used to reflect such contracts in the utility district's financial statements; (I) Financial monitoring and periodic assessment of such contracts by the utility district; (J) The application and source of nonperiodic payments; and (K) Educational requirements for officials of any utility district responsible for approving any such contract or agreement. (2) Prior to the adoption by the governing body of the utility district of a resolution authorizing such contract or agreement, a request shall be submitted to the comptroller of the treasury or the comptroller's designee for a report finding that such contract or agreement is in compliance with the guidelines, rules or regulations of the state funding board. Within fifteen (15) days of receipt of the request, the comptroller of the treasury or the comptroller's designee shall determine whether the contract or agreement substantially complies with the guidelines, rules or regulations and shall report on the compliance to the utility district. If the report of the comptroller of the treasury or the comptroller's designee finds that the contract or agreement complies with the guidelines, rules or regulations of the state funding board or the comptroller of the treasury shall fail to report within the fifteen-day period, then the utility district may take such action with respect to the proposed contract or agreement as it deems advisable in accordance with this section and the guidelines, rules or regulations of the state funding board. If the report of the comptroller of the treasury or the comptroller's designee finds that such contract or agreement is not in compliance with the guidelines, rules or regulations, then the utility district is not authorized to enter into such contract or agreement. The guidelines, rules or regulations shall provide for an appeal process to a determination of noncompliance. (f) When entering into any contracts or agreements facilitating the issuance and sale of bonds, including contracts or agreements providing for liquidity and credit enhancement and reimbursement agreements relating to the bonds, interest rate swap or exchange agreements, agreements establishing interest rate floors or ceilings or both, other interest rate hedging agreements, and agreements with the purchaser of the bonds authorized under this section evidencing a transaction bearing a reasonable relationship to this state and also to another state or nation, the utility district may agree in the written contract or agreement that the rights and remedies of the parties to the contract or agreement shall be governed by the laws of this state or the laws of such other state or nation; provided, that jurisdiction over any utility district against which an action on such a contract or agreement is brought shall lie solely in a court in Tennessee that would otherwise have jurisdiction of actions brought in contract against such utility district. (g) Prior to the adoption or promulgation by the state funding board of guidelines, rules or regulations with respect to the contracts and agreements authorized in subsections (c) and (d), a utility district may enter into such contracts or agreements to the extent otherwise authorized in this chapter or in any other law, notwithstanding subsections (c) and (d). Nothing in subsection (c), (d), (e) or (f) is intended to alter any existing authority in this chapter or in any other law otherwise providing authority for a utility district to enter into the contracts or agreements described in subsection (c), (d), (e) or (f) heretofore entered into or entered into prior to the adoption or promulgation by the state funding board of guidelines, rules or regulations. (h) When entering into an interest rate agreement authorized by this section, a utility district may secure its obligations under the agreement, including its obligation for termination or other nonperiodic payments, with the revenues available to secure the bonds with respect to which such interest rate agreement is entered into. Acts 1937, ch. 248, § 9; C. Supp. 1950, § 3695.35 (Williams, § 3695.34); Acts 1969, ch. 282, § 1; T.C.A. (orig. ed.), § 6-2620; Acts 1980, ch. 586, § 1; 1980, ch. 601, § 5; 1999, ch. 428, §§ 1, 2; 2001, ch. 253, § 8; 2004, ch. 589, § 5.
(a) Such bonds shall be authorized by resolution of the board of the district, and may be issued in one (1) or more series; may bear such date or dates; may mature at such time or times not exceeding forty (40) years from their respective dates; may bear interest at such rate or rates, which may vary from time to time; may be in such form, either coupon or registered; may be executed in such manner; may be payable in such medium of payment, at such place or places, and be subject to such terms of redemption, with or without premium; and may contain such terms, covenants and conditions as such resolution or subsequent resolution may provide. The bonds may be issued for money or property and may be sold in such manner and upon such terms as the board shall determine. Pending the preparation of the definitive bonds, interim receipts or certificates in such form and with such provisions as the governing body may determine may be issued to the purchaser or purchasers of bonds sold pursuant to this chapter. The bonds and interim receipts or certificates shall be fully negotiable within the meaning of and for all purposes of the Uniform Commercial Code, compiled in title 47, chapter 3.
(b) If any issue of such bonds is to be sold to an agency of the federal government or an agency of the state, such bond issue may, at the request of such agency, be delivered as an installment bond payable as to principal and interest in equal or approximately equal installments for the term of such bond issue, in accordance with the resolution authorizing such bond issue. Such authorizing resolution shall stipulate the annual principal and interest requirements during the full term of the bond issue.
(c) With respect to all or any portion of any issue of bonds issued or anticipated to be issued under this chapter, at any time during the term of the bonds, and upon receipt of a report of the comptroller of the treasury or the comptroller's designee finding that the contracts and agreements authorized in this subsection (c) are in compliance with the guidelines, rules or regulations adopted or promulgated by the state funding board, as set forth in subsection (e), a utility district, by resolution, may authorize and enter into interest rate swap or exchange agreements, agreements establishing interest rate floors or ceilings or both, and other interest rate hedging agreements under such terms and conditions as the governing body of the utility district may determine, including, but not limited to, provisions permitting the utility district to pay to or receive from any person or entity any loss of benefits under such agreement upon early termination of the agreement or default under such agreement.
(d) The governing body of a utility district may enter into an agreement to sell bonds, other than its refunding bonds, under this chapter, providing for delivery of the bonds on a date greater than ninety (90) days and not greater than five (5) years, or such greater period of time, if approved by the comptroller of the treasury or the comptroller's designee, from the date of execution of such agreement or to sell its refunding bonds under this chapter and in accordance with the Local Government Public Obligations Act of 1986, compiled in title 9, chapter 21, providing for delivery of its refunding bonds on a date greater than ninety (90) days from the date of execution of the agreement and not greater than the first optional redemption date on which the bonds being refunded can be optionally redeemed resulting in cost savings or at par, whichever is earlier, only upon receipt of a report of the comptroller of the treasury or the comptroller's designee finding that the agreement or contract of a utility district to sell its bonds, as authorized in this subsection (d), is in compliance with the guidelines, rules or regulations adopted or promulgated by the state funding board in accordance with subsection (e). Agreements to sell bonds or refunding bonds for delivery ninety (90) days or less from the date of execution of the agreement do not require a report of the comptroller of the treasury or the comptroller's designee.
(e) (1) The state funding board shall establish guidelines, rules or regulations with respect to the agreements and contracts referenced in subsections (c) and (d), which may include, but shall not be limited to, the following: (A) The conditions under which such agreements or contracts can be entered into; (B) The methods by which such contracts are to be solicited and procured; (C) The form and content such contracts shall take; (D) The aspects of risk exposure associated with such contracts; (E) The standards and procedures for counterparty selection, including rating criteria; (F) The procurement of credit enhancement, liquidity facilities, or the setting aside of reserves in connection with such contracts or agreements; (G) The methods of securing the financial interest in such contracts; (H) The methods to be used to reflect such contracts in the utility district's financial statements; (I) Financial monitoring and periodic assessment of such contracts by the utility district; (J) The application and source of nonperiodic payments; and (K) Educational requirements for officials of any utility district responsible for approving any such contract or agreement. (2) Prior to the adoption by the governing body of the utility district of a resolution authorizing such contract or agreement, a request shall be submitted to the comptroller of the treasury or the comptroller's designee for a report finding that such contract or agreement is in compliance with the guidelines, rules or regulations of the state funding board. Within fifteen (15) days of receipt of the request, the comptroller of the treasury or the comptroller's designee shall determine whether the contract or agreement substantially complies with the guidelines, rules or regulations and shall report on the compliance to the utility district. If the report of the comptroller of the treasury or the comptroller's designee finds that the contract or agreement complies with the guidelines, rules or regulations of the state funding board or the comptroller of the treasury shall fail to report within the fifteen-day period, then the utility district may take such action with respect to the proposed contract or agreement as it deems advisable in accordance with this section and the guidelines, rules or regulations of the state funding board. If the report of the comptroller of the treasury or the comptroller's designee finds that such contract or agreement is not in compliance with the guidelines, rules or regulations, then the utility district is not authorized to enter into such contract or agreement. The guidelines, rules or regulations shall provide for an appeal process to a determination of noncompliance.
(1) The state funding board shall establish guidelines, rules or regulations with respect to the agreements and contracts referenced in subsections (c) and (d), which may include, but shall not be limited to, the following: (A) The conditions under which such agreements or contracts can be entered into; (B) The methods by which such contracts are to be solicited and procured; (C) The form and content such contracts shall take; (D) The aspects of risk exposure associated with such contracts; (E) The standards and procedures for counterparty selection, including rating criteria; (F) The procurement of credit enhancement, liquidity facilities, or the setting aside of reserves in connection with such contracts or agreements; (G) The methods of securing the financial interest in such contracts; (H) The methods to be used to reflect such contracts in the utility district's financial statements; (I) Financial monitoring and periodic assessment of such contracts by the utility district; (J) The application and source of nonperiodic payments; and (K) Educational requirements for officials of any utility district responsible for approving any such contract or agreement.
(A) The conditions under which such agreements or contracts can be entered into;
(B) The methods by which such contracts are to be solicited and procured;
(C) The form and content such contracts shall take;
(D) The aspects of risk exposure associated with such contracts;
(E) The standards and procedures for counterparty selection, including rating criteria;
(F) The procurement of credit enhancement, liquidity facilities, or the setting aside of reserves in connection with such contracts or agreements;
(G) The methods of securing the financial interest in such contracts;
(H) The methods to be used to reflect such contracts in the utility district's financial statements;
(I) Financial monitoring and periodic assessment of such contracts by the utility district;
(J) The application and source of nonperiodic payments; and
(K) Educational requirements for officials of any utility district responsible for approving any such contract or agreement.
(2) Prior to the adoption by the governing body of the utility district of a resolution authorizing such contract or agreement, a request shall be submitted to the comptroller of the treasury or the comptroller's designee for a report finding that such contract or agreement is in compliance with the guidelines, rules or regulations of the state funding board. Within fifteen (15) days of receipt of the request, the comptroller of the treasury or the comptroller's designee shall determine whether the contract or agreement substantially complies with the guidelines, rules or regulations and shall report on the compliance to the utility district. If the report of the comptroller of the treasury or the comptroller's designee finds that the contract or agreement complies with the guidelines, rules or regulations of the state funding board or the comptroller of the treasury shall fail to report within the fifteen-day period, then the utility district may take such action with respect to the proposed contract or agreement as it deems advisable in accordance with this section and the guidelines, rules or regulations of the state funding board. If the report of the comptroller of the treasury or the comptroller's designee finds that such contract or agreement is not in compliance with the guidelines, rules or regulations, then the utility district is not authorized to enter into such contract or agreement. The guidelines, rules or regulations shall provide for an appeal process to a determination of noncompliance.
(f) When entering into any contracts or agreements facilitating the issuance and sale of bonds, including contracts or agreements providing for liquidity and credit enhancement and reimbursement agreements relating to the bonds, interest rate swap or exchange agreements, agreements establishing interest rate floors or ceilings or both, other interest rate hedging agreements, and agreements with the purchaser of the bonds authorized under this section evidencing a transaction bearing a reasonable relationship to this state and also to another state or nation, the utility district may agree in the written contract or agreement that the rights and remedies of the parties to the contract or agreement shall be governed by the laws of this state or the laws of such other state or nation; provided, that jurisdiction over any utility district against which an action on such a contract or agreement is brought shall lie solely in a court in Tennessee that would otherwise have jurisdiction of actions brought in contract against such utility district.
(g) Prior to the adoption or promulgation by the state funding board of guidelines, rules or regulations with respect to the contracts and agreements authorized in subsections (c) and (d), a utility district may enter into such contracts or agreements to the extent otherwise authorized in this chapter or in any other law, notwithstanding subsections (c) and (d). Nothing in subsection (c), (d), (e) or (f) is intended to alter any existing authority in this chapter or in any other law otherwise providing authority for a utility district to enter into the contracts or agreements described in subsection (c), (d), (e) or (f) heretofore entered into or entered into prior to the adoption or promulgation by the state funding board of guidelines, rules or regulations.
(h) When entering into an interest rate agreement authorized by this section, a utility district may secure its obligations under the agreement, including its obligation for termination or other nonperiodic payments, with the revenues available to secure the bonds with respect to which such interest rate agreement is entered into.
Acts 1937, ch. 248, § 9; C. Supp. 1950, § 3695.35 (Williams, § 3695.34); Acts 1969, ch. 282, § 1; T.C.A. (orig. ed.), § 6-2620; Acts 1980, ch. 586, § 1; 1980, ch. 601, § 5; 1999, ch. 428, §§ 1, 2; 2001, ch. 253, § 8; 2004, ch. 589, § 5.