Tenn. Code Ann. § 9-4-1005 — TN Code / Title 9 / Chapter 4 / Section 9-4-1005
Suspension of deposits of employer contributions
Status: in_force

Deposits of employer contributions into the pension stabilization reserve trust fund as provided in § 8-36-920 shall be suspended effective July 1 of any given year next following the most recent actuarial valuation conducted pursuant to § 8-36-922(b) for an employer whose stabilization reserve trust account equals or exceeds a certain maximum amount that is determined by the trustees of the trust created pursuant to this part. The amount shall be expressed in dollars, as a percentage, or other form as shall be determined at the sole discretion of the trustees. The trustees, in consultation with board of trustees of the Tennessee consolidated retirement system and the retirement system's actuary, shall establish the methodology and procedures to be used in ascertaining the maximum amount. Deposits into the pension stabilization reserve trust fund shall be reinstated for the employer effective July 1 of any given year next following the most recent actuarial valuation conducted pursuant to § 8-36-922(b) when the total amount in the employer's stabilization reserve trust account is less than the maximum amount adopted by the trustees pursuant to this section. Added by 2017 Tenn. Acts, ch. 374,s 1, eff. 5/11/2017.
Deposits of employer contributions into the pension stabilization reserve trust fund as provided in § 8-36-920 shall be suspended effective July 1 of any given year next following the most recent actuarial valuation conducted pursuant to § 8-36-922(b) for an employer whose stabilization reserve trust account equals or exceeds a certain maximum amount that is determined by the trustees of the trust created pursuant to this part. The amount shall be expressed in dollars, as a percentage, or other form as shall be determined at the sole discretion of the trustees. The trustees, in consultation with board of trustees of the Tennessee consolidated retirement system and the retirement system's actuary, shall establish the methodology and procedures to be used in ascertaining the maximum amount. Deposits into the pension stabilization reserve trust fund shall be reinstated for the employer effective July 1 of any given year next following the most recent actuarial valuation conducted pursuant to § 8-36-922(b) when the total amount in the employer's stabilization reserve trust account is less than the maximum amount adopted by the trustees pursuant to this section.
Added by 2017 Tenn. Acts, ch. 374,s 1, eff. 5/11/2017.
Tenn. Code Ann. § 9-14-101 — TN Code / Title 9 / Chapter 14 / Section 9-14-101
Short title
Status: in_force

This chapter shall be known and may be cited as the "Local Economic Adjustment Act of 1975." Acts 1975, ch. 312, § 1; T.C.A., § 9-1501.
This chapter shall be known and may be cited as the "Local Economic Adjustment Act of 1975."
Acts 1975, ch. 312, § 1; T.C.A., § 9-1501.
Tenn. Code Ann. § 9-21-1008 — TN Code / Title 9 / Chapter 21 / Section 9-21-1008
Sale or exchange of revenue refunding bonds - Agreements to sell
Status: in_force

(a) Any local government, proposing to sell revenue refunding bonds for any authorized purpose under this part and part 1 of this chapter, is authorized to sell the revenue refunding bonds either at a competitive public sale or at a private negotiated sale, as the governing body of the local government may determine. (b) If the governing body determines to exchange any revenue refunding bonds, those refunding bonds may be exchanged privately for and in payment and discharge of any of the outstanding obligations being refunded. The refunding bonds may be exchanged for a like or greater principal amount of the obligations being exchanged therefor, except that the principal amount of the revenue refunding bonds may exceed the principal amount of the obligations exchanged therefor only to the extent determined by the governing body to be necessary or advisable to fund redemption premiums and unpaid interest to the date of exchange not provided for otherwise. The holder or holders of the obligations being refunded need not pay accrued interest on the refunding bonds if and to the extent that interest is due or accrued and unpaid on the obligations being refunded and to be surrendered. (c) The governing body of a local government may enter into an agreement to sell its revenue refunding bonds under this part providing for delivery of its revenue refunding bonds on a date greater than ninety (90) days and not greater than the first optional redemption date on which the obligations 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 local government to sell its revenue refunding bonds as authorized in this subsection (c) is in compliance with the guidelines, rules or regulations adopted or promulgated by the state funding board in accordance with § 9-21-130 . Agreements to sell revenue refunding bonds for delivery ninety (90) days or less from the date of execution of the agreement to sell the revenue refunding bonds do not require a report of the comptroller of the treasury or the comptroller's designee. Acts 1986, ch. 770, § 10-8; 1999, ch. 432, § 10.
(a) Any local government, proposing to sell revenue refunding bonds for any authorized purpose under this part and part 1 of this chapter, is authorized to sell the revenue refunding bonds either at a competitive public sale or at a private negotiated sale, as the governing body of the local government may determine.
(b) If the governing body determines to exchange any revenue refunding bonds, those refunding bonds may be exchanged privately for and in payment and discharge of any of the outstanding obligations being refunded. The refunding bonds may be exchanged for a like or greater principal amount of the obligations being exchanged therefor, except that the principal amount of the revenue refunding bonds may exceed the principal amount of the obligations exchanged therefor only to the extent determined by the governing body to be necessary or advisable to fund redemption premiums and unpaid interest to the date of exchange not provided for otherwise. The holder or holders of the obligations being refunded need not pay accrued interest on the refunding bonds if and to the extent that interest is due or accrued and unpaid on the obligations being refunded and to be surrendered.
(c) The governing body of a local government may enter into an agreement to sell its revenue refunding bonds under this part providing for delivery of its revenue refunding bonds on a date greater than ninety (90) days and not greater than the first optional redemption date on which the obligations 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 local government to sell its revenue refunding bonds as authorized in this subsection (c) is in compliance with the guidelines, rules or regulations adopted or promulgated by the state funding board in accordance with § 9-21-130 . Agreements to sell revenue refunding bonds for delivery ninety (90) days or less from the date of execution of the agreement to sell the revenue refunding bonds do not require a report of the comptroller of the treasury or the comptroller's designee.
Acts 1986, ch. 770, § 10-8; 1999, ch. 432, § 10.
Tenn. Code Ann. § 9-4-1103 — TN Code / Title 9 / Chapter 4 / Section 9-4-1103
Chair of trustees
Status: in_force

The comptroller of the treasury shall serve as the chair of the trustees and shall preside over all meetings and proceedings of the trustees. Added by 2017 Tenn. Acts, ch. 374,s 7, eff. 5/11/2017.
The comptroller of the treasury shall serve as the chair of the trustees and shall preside over all meetings and proceedings of the trustees.
Added by 2017 Tenn. Acts, ch. 374,s 7, eff. 5/11/2017.
Tenn. Code Ann. § 9-11-101 — TN Code / Title 9 / Chapter 11 / Section 9-11-101
Short title
Status: in_force

This chapter may be cited as the "Cash Basis Law of 1937." Acts 1937, ch. 300, § 1; C. Supp. 1950, § 3516.11; T.C.A. (orig. ed.), § 9-1101.
This chapter may be cited as the "Cash Basis Law of 1937."
Acts 1937, ch. 300, § 1; C. Supp. 1950, § 3516.11; T.C.A. (orig. ed.), § 9-1101.
Tenn. Code Ann. § 9-2-117 — TN Code / Title 9 / Chapter 2 / Section 9-2-117
Judgment for trustee against clerk or judge
Status: in_force

If any clerk or judge fails or refuses to pay to the county trustee any county money collected by such clerk or judge, the county trustee may proceed, by motion in the circuit court of the county, and the court shall give judgment against such clerk or judge and the sureties of such clerk or judge for the penalty of the bond, and award execution. Code 1858, § 513 (deriv. Acts 1839-1840, ch. 85, § 1); Shan., §1023; mod. Code 1932, § 1752; impl. am. Acts 1979, ch. 68, §§ 2, 3; T.C.A. (orig. ed.), § 9-217.
If any clerk or judge fails or refuses to pay to the county trustee any county money collected by such clerk or judge, the county trustee may proceed, by motion in the circuit court of the county, and the court shall give judgment against such clerk or judge and the sureties of such clerk or judge for the penalty of the bond, and award execution.
Code 1858, § 513 (deriv. Acts 1839-1840, ch. 85, § 1); Shan., §1023; mod. Code 1932, § 1752; impl. am. Acts 1979, ch. 68, §§ 2, 3; T.C.A. (orig. ed.), § 9-217.
Tenn. Code Ann. § 9-4-1401 — TN Code / Title 9 / Chapter 4 / Section 9-4-1401
Part definitions
Status: in_force

As used in this part: (1) "Environmental, social, and governance interests" means interests that are not financial; (2) "Financial": (A) Means, with regard to a factor or reason, having been prudently determined to have a material effect on the financial risk or the financial return of an investment for a program based on the appropriate investment horizon consistent with the program's articulated funding and investment objectives for the exclusive benefit of the purposes of the program; (B) Includes, but is not limited to, data-based economic decisions and forecasting based on financial trends or themes; and (C) Does not include environmental, social, and governance interests that may not be material to the financial analysis of the investment; and (3) "Program" means any of the following which are established by law and for which the state treasurer has, or has been delegated, investment authority, oversight, and responsibility: (A) A trust fund; (B) An endowment fund; (C) Deferred or tax-sheltered compensation plan or plans, including profit sharing or salary reduction plans, established pursuant to title 8, chapter 25, parts 1, 2, and 3; (D) Programs under the Tennessee College Savings Trust Act, compiled in title 49, chapter 7, part 8; and (E) Programs under The Achieving a Better Life Experience (ABLE) Act, compiled in title 71, chapter 4, part 8. Added by 2023 Tenn. Acts, ch. 471, s 1, eff. 5/17/2023.
As used in this part:
(1) "Environmental, social, and governance interests" means interests that are not financial;
(2) "Financial": (A) Means, with regard to a factor or reason, having been prudently determined to have a material effect on the financial risk or the financial return of an investment for a program based on the appropriate investment horizon consistent with the program's articulated funding and investment objectives for the exclusive benefit of the purposes of the program; (B) Includes, but is not limited to, data-based economic decisions and forecasting based on financial trends or themes; and (C) Does not include environmental, social, and governance interests that may not be material to the financial analysis of the investment; and
(A) Means, with regard to a factor or reason, having been prudently determined to have a material effect on the financial risk or the financial return of an investment for a program based on the appropriate investment horizon consistent with the program's articulated funding and investment objectives for the exclusive benefit of the purposes of the program;
(B) Includes, but is not limited to, data-based economic decisions and forecasting based on financial trends or themes; and
(C) Does not include environmental, social, and governance interests that may not be material to the financial analysis of the investment; and
(3) "Program" means any of the following which are established by law and for which the state treasurer has, or has been delegated, investment authority, oversight, and responsibility: (A) A trust fund; (B) An endowment fund; (C) Deferred or tax-sheltered compensation plan or plans, including profit sharing or salary reduction plans, established pursuant to title 8, chapter 25, parts 1, 2, and 3; (D) Programs under the Tennessee College Savings Trust Act, compiled in title 49, chapter 7, part 8; and (E) Programs under The Achieving a Better Life Experience (ABLE) Act, compiled in title 71, chapter 4, part 8.
(A) A trust fund;
(B) An endowment fund;
(C) Deferred or tax-sheltered compensation plan or plans, including profit sharing or salary reduction plans, established pursuant to title 8, chapter 25, parts 1, 2, and 3;
(D) Programs under the Tennessee College Savings Trust Act, compiled in title 49, chapter 7, part 8; and
(E) Programs under The Achieving a Better Life Experience (ABLE) Act, compiled in title 71, chapter 4, part 8.
Added by 2023 Tenn. Acts, ch. 471, s 1, eff. 5/17/2023.
Tenn. Code Ann. § 9-21-405 — TN Code / Title 9 / Chapter 21 / Section 9-21-405
Definition of "period."
Status: in_force

"Period," as used in this part and parts 5-8 of this chapter, includes in each instance any number of portions of time not exceeding in the aggregate the length of time included in such period. Acts 1986, ch. 770, § 4-5.
"Period," as used in this part and parts 5-8 of this chapter, includes in each instance any number of portions of time not exceeding in the aggregate the length of time included in such period.
Acts 1986, ch. 770, § 4-5.
Tenn. Code Ann. § 9-2-137 — TN Code / Title 9 / Chapter 2 / Section 9-2-137
Counties not having approved central accounting system - Quarterly report of accounts payable and obligations
Status: in_force

Each county office, department, board, commission or agency charged with the duty of disbursing county funds in counties which do not have a central accounting system approved by the comptroller of the treasury shall file quarterly with the county fiscal agent a sworn itemized report listing by fund accounts all accounts payable and other obligations, including notes payable. Such report shall be made and sworn to by the principal officer, chair or employee in charge of the department, office, board, commission or agency. A copy of the report shall be filed with the county clerk. Acts 1957, ch. 355, § 1; impl. am. Acts 1978, ch. 934, §§ 22, 36; T.C.A., § 9-237.
Each county office, department, board, commission or agency charged with the duty of disbursing county funds in counties which do not have a central accounting system approved by the comptroller of the treasury shall file quarterly with the county fiscal agent a sworn itemized report listing by fund accounts all accounts payable and other obligations, including notes payable. Such report shall be made and sworn to by the principal officer, chair or employee in charge of the department, office, board, commission or agency. A copy of the report shall be filed with the county clerk.
Acts 1957, ch. 355, § 1; impl. am. Acts 1978, ch. 934, §§ 22, 36; T.C.A., § 9-237.
Tenn. Code Ann. § 9-19-109 — TN Code / Title 9 / Chapter 19 / Section 9-19-109
Confidentiality of owner's identity
Status: in_force

The identity of any owner of, or any other information by or from which may be determined the identity of any owner of, any public obligation issued by any issuer shall be treated as confidential and not open to public inspection. The confidentiality herein established shall not be deemed to have been extinguished but shall remain inviolate in cases where such information is in the possession of banks, trust companies, financial institutions or other financial intermediaries of the issuer, including, but not limited to, registration, paying or transfer agents. Acts 1983, ch. 100, § 9.
The identity of any owner of, or any other information by or from which may be determined the identity of any owner of, any public obligation issued by any issuer shall be treated as confidential and not open to public inspection. The confidentiality herein established shall not be deemed to have been extinguished but shall remain inviolate in cases where such information is in the possession of banks, trust companies, financial institutions or other financial intermediaries of the issuer, including, but not limited to, registration, paying or transfer agents.
Acts 1983, ch. 100, § 9.
Tenn. Code Ann. § 9-21-205 — TN Code / Title 9 / Chapter 21 / Section 9-21-205
Initial resolution for general obligation bonds
Status: in_force

(a) Prior to the issuance of general obligation bonds pursuant to this part and part 1 of this chapter, the governing body of the local government shall adopt a resolution (herein referred to as the "initial resolution") determining to issue the general obligation bonds. The resolution must state in substance: (1) The amount or maximum amount of general obligation bonds to be issued; (2) The public works project or projects for which the general obligation bonds are to be issued; (3) The rate or maximum rate of interest which the general obligation bonds are to bear; and (4) A brief concise statement that the general obligation bonds will be payable: (A) From ad valorem taxes levied upon all the taxable property in the local government or a portion of the local government, if applicable, and, if the latter, then a brief statement or description of such portion of the local government; (B) From revenues and, in the event of a deficiency in such revenues, from taxes; or (C) From taxes, and additionally secured by a pledge of revenues. (b) Notwithstanding subsection (a), the governing body of the local government is not required to adopt an initial resolution for general obligation bonds if the public works project for which the bonds are being issued is a mandated project, and the governing body of a county is not required to adopt an initial resolution for general obligation bonds if the public works project for which the bonds are being issued is a school project. Amended by 2021 Tenn. Acts, ch. 128, s 9, eff. 4/13/2021. Acts 1986, ch. 770, § 2-5.
(a) Prior to the issuance of general obligation bonds pursuant to this part and part 1 of this chapter, the governing body of the local government shall adopt a resolution (herein referred to as the "initial resolution") determining to issue the general obligation bonds. The resolution must state in substance: (1) The amount or maximum amount of general obligation bonds to be issued; (2) The public works project or projects for which the general obligation bonds are to be issued; (3) The rate or maximum rate of interest which the general obligation bonds are to bear; and (4) A brief concise statement that the general obligation bonds will be payable: (A) From ad valorem taxes levied upon all the taxable property in the local government or a portion of the local government, if applicable, and, if the latter, then a brief statement or description of such portion of the local government; (B) From revenues and, in the event of a deficiency in such revenues, from taxes; or (C) From taxes, and additionally secured by a pledge of revenues.
(1) The amount or maximum amount of general obligation bonds to be issued;
(2) The public works project or projects for which the general obligation bonds are to be issued;
(3) The rate or maximum rate of interest which the general obligation bonds are to bear; and
(4) A brief concise statement that the general obligation bonds will be payable: (A) From ad valorem taxes levied upon all the taxable property in the local government or a portion of the local government, if applicable, and, if the latter, then a brief statement or description of such portion of the local government; (B) From revenues and, in the event of a deficiency in such revenues, from taxes; or (C) From taxes, and additionally secured by a pledge of revenues.
(A) From ad valorem taxes levied upon all the taxable property in the local government or a portion of the local government, if applicable, and, if the latter, then a brief statement or description of such portion of the local government;
(B) From revenues and, in the event of a deficiency in such revenues, from taxes; or
(C) From taxes, and additionally secured by a pledge of revenues.
(b) Notwithstanding subsection (a), the governing body of the local government is not required to adopt an initial resolution for general obligation bonds if the public works project for which the bonds are being issued is a mandated project, and the governing body of a county is not required to adopt an initial resolution for general obligation bonds if the public works project for which the bonds are being issued is a school project.
Amended by 2021 Tenn. Acts, ch. 128, s 9, eff. 4/13/2021.
Acts 1986, ch. 770, § 2-5.
Tenn. Code Ann. § 9-4-5116 — TN Code / Title 9 / Chapter 4 / Section 9-4-5116
Abortion funding
Status: in_force

No state funds shall be expended to perform abortions. The limitations established in this section shall not apply to an abortion if: (1) The pregnancy is the result of an act of rape or incest; or (2) In the case where a woman suffers from a physical disorder, physical injury, or physical illness, including a life-endangering physical condition caused by or arising from the pregnancy itself, that would, as certified by a physician, place the woman in danger of death unless the abortion is performed. Acts 2003, ch. 355, § 67.
No state funds shall be expended to perform abortions. The limitations established in this section shall not apply to an abortion if:
(1) The pregnancy is the result of an act of rape or incest; or
(2) In the case where a woman suffers from a physical disorder, physical injury, or physical illness, including a life-endangering physical condition caused by or arising from the pregnancy itself, that would, as certified by a physician, place the woman in danger of death unless the abortion is performed.
Acts 2003, ch. 355, § 67.
Tenn. Code Ann. § 9-8-204 — TN Code / Title 9 / Chapter 8 / Section 9-8-204
Establishment of Tennessee educator liability fund - Source of funds - Investment of funds
Status: in_force

(a) The Tennessee educator liability fund shall be established as a separate account in the state treasury and shall be separate and apart from the risk management fund established by § 9-8-109 . (b) The fund shall be funded from appropriations by the general assembly, and shall include interest earned on the appropriated money. Appropriations to the fund may be adjusted based on the number of claims filed and amounts paid from the fund. Amounts remaining in the fund at the end of each fiscal year, including interest, shall not revert to the general fund. (c) Moneys in the fund shall be invested by the state treasurer pursuant to chapter 4, part 6 of this title, for the sole benefit of the fund. Acts 2015, ch. 493, § 1.
(a) The Tennessee educator liability fund shall be established as a separate account in the state treasury and shall be separate and apart from the risk management fund established by § 9-8-109 .
(b) The fund shall be funded from appropriations by the general assembly, and shall include interest earned on the appropriated money. Appropriations to the fund may be adjusted based on the number of claims filed and amounts paid from the fund. Amounts remaining in the fund at the end of each fiscal year, including interest, shall not revert to the general fund.
(c) Moneys in the fund shall be invested by the state treasurer pursuant to chapter 4, part 6 of this title, for the sole benefit of the fund.
Acts 2015, ch. 493, § 1.
Tenn. Code Ann. § 9-21-307 — TN Code / Title 9 / Chapter 21 / Section 9-21-307
Revenue bonds of the same issue shall be equally and ratably secured
Status: in_force

All revenue bonds of the same issue shall be equally and ratably secured, without priority by reason of number, date of bonds, date of sale, date of execution, or of delivery, by a lien upon the revenues of the public works project or projects, the revenues of which are pledged to the payment of such bonds, in accordance with this part and the resolution authorizing the issuance of the revenue bonds. Acts 1986, ch. 770, § 3-7.
All revenue bonds of the same issue shall be equally and ratably secured, without priority by reason of number, date of bonds, date of sale, date of execution, or of delivery, by a lien upon the revenues of the public works project or projects, the revenues of which are pledged to the payment of such bonds, in accordance with this part and the resolution authorizing the issuance of the revenue bonds.
Acts 1986, ch. 770, § 3-7.
Tenn. Code Ann. § 9-4-518 — TN Code / Title 9 / Chapter 4 / Section 9-4-518
Reports of qualified public depositories
Status: in_force

(a) Within fifteen (15) days after the end of each calendar month, or when requested by the state treasurer, each qualified public depository shall submit to the state treasurer a written report, under oath, indicating the average daily balance of all secured public deposits held by it during the month, the average monthly balance of all public deposits held for the previous twelve (12) calendar months, and any other information that the state treasurer determines necessary to administer this part. (b) In addition to the report required in subsection (a), each qualified public depository shall submit to the state treasurer: (1) If requested by the board or the state treasurer, a copy of the quarterly report of condition required by the Federal Deposit Insurance Act ( 12 U.S.C. § 1817 et seq.), if such depository is a bank; (2) A schedule of financial information as determined by the board taken from the quarterly report on condition required by the Federal Deposit Insurance Act, if such depository is a bank; (3) If requested by the board or the state treasurer, a copy of the monthly and quarterly reports required to be filed with the office of thrift supervision, or such other federal regulator by whatever name called, if such depository is a savings institution; and (4) A schedule of financial information as determined by the board taken from the monthly and quarterly reports required to be filed with the office of thrift supervision, or such other federal regulator by whatever name called, if such depository is a savings institution. (c) In addition to the requirements of subsection (a), the following forms shall be made under oath: (1) The contingent liability agreement; (2) The depository pledge agreement; and (3) The public depository change of name, address and charter of institution. (d) Any information contained in a report by a qualified public depository required under this part or any rule adopted under this part, which is confidential by any law of the United States or of this state, shall be considered confidential and not subject to dissemination to anyone other than the state treasurer and the board under this part, and the comptroller of the treasury, or the comptroller of the treasury's designated representatives, for purposes of audit. The confidentiality of such information shall be maintained by the comptroller of the treasury in the same manner as the comptroller maintains the confidentiality of working papers which are not subject to § 10-7-503 . It is the responsibility of each qualified public depository from which information is required to inform the state treasurer of information that is confidential, and the state treasurer does not have a duty to inquire into whether information is confidential. (e) Section 10-7-503 shall not apply to information deemed confidential as provided in subsection (d). All meetings of the board wherein such information is discussed shall be exempt from title 8, chapter 44. Acts 1990, ch. 1043, § 1; 1991, ch. 438, § 1; 1997, ch. 217, § 5; 2003, ch. 38, § 1.
(a) Within fifteen (15) days after the end of each calendar month, or when requested by the state treasurer, each qualified public depository shall submit to the state treasurer a written report, under oath, indicating the average daily balance of all secured public deposits held by it during the month, the average monthly balance of all public deposits held for the previous twelve (12) calendar months, and any other information that the state treasurer determines necessary to administer this part.
(b) In addition to the report required in subsection (a), each qualified public depository shall submit to the state treasurer: (1) If requested by the board or the state treasurer, a copy of the quarterly report of condition required by the Federal Deposit Insurance Act ( 12 U.S.C. § 1817 et seq.), if such depository is a bank; (2) A schedule of financial information as determined by the board taken from the quarterly report on condition required by the Federal Deposit Insurance Act, if such depository is a bank; (3) If requested by the board or the state treasurer, a copy of the monthly and quarterly reports required to be filed with the office of thrift supervision, or such other federal regulator by whatever name called, if such depository is a savings institution; and (4) A schedule of financial information as determined by the board taken from the monthly and quarterly reports required to be filed with the office of thrift supervision, or such other federal regulator by whatever name called, if such depository is a savings institution.
(1) If requested by the board or the state treasurer, a copy of the quarterly report of condition required by the Federal Deposit Insurance Act ( 12 U.S.C. § 1817 et seq.), if such depository is a bank;
(2) A schedule of financial information as determined by the board taken from the quarterly report on condition required by the Federal Deposit Insurance Act, if such depository is a bank;
(3) If requested by the board or the state treasurer, a copy of the monthly and quarterly reports required to be filed with the office of thrift supervision, or such other federal regulator by whatever name called, if such depository is a savings institution; and
(4) A schedule of financial information as determined by the board taken from the monthly and quarterly reports required to be filed with the office of thrift supervision, or such other federal regulator by whatever name called, if such depository is a savings institution.
(c) In addition to the requirements of subsection (a), the following forms shall be made under oath: (1) The contingent liability agreement; (2) The depository pledge agreement; and (3) The public depository change of name, address and charter of institution.
(1) The contingent liability agreement;
(2) The depository pledge agreement; and
(3) The public depository change of name, address and charter of institution.
(d) Any information contained in a report by a qualified public depository required under this part or any rule adopted under this part, which is confidential by any law of the United States or of this state, shall be considered confidential and not subject to dissemination to anyone other than the state treasurer and the board under this part, and the comptroller of the treasury, or the comptroller of the treasury's designated representatives, for purposes of audit. The confidentiality of such information shall be maintained by the comptroller of the treasury in the same manner as the comptroller maintains the confidentiality of working papers which are not subject to § 10-7-503 . It is the responsibility of each qualified public depository from which information is required to inform the state treasurer of information that is confidential, and the state treasurer does not have a duty to inquire into whether information is confidential.
(e) Section 10-7-503 shall not apply to information deemed confidential as provided in subsection (d). All meetings of the board wherein such information is discussed shall be exempt from title 8, chapter 44.
Acts 1990, ch. 1043, § 1; 1991, ch. 438, § 1; 1997, ch. 217, § 5; 2003, ch. 38, § 1.
Tenn. Code Ann. § 9-2-107 — TN Code / Title 9 / Chapter 2 / Section 9-2-107
Settlement for school funds
Status: in_force

The commissioner of finance and administration shall settle with the banks, insurance companies, tax collectors, and clerks, and all other corporations, companies, officers and persons, all accounts of moneys due from them, or any of them, which have been appropriated to the use of common schools, and which are by law subject to annual distribution, and shall charge the same, and keep a full account thereof, in books to be kept for the purpose, and shall issue such commissioner's warrant for the payment thereof into the treasury in the same manner as for the payment of the revenue of the state. Code 1858, § 208 (deriv. Acts 1837-1838, ch. 148, § 45); Shan., §258; Code 1932, § 202; impl. am. Acts 1937, ch. 33, §§24, 29; C. Supp. 1950, § 202; impl. am. Acts 1959, ch. 9, §3; impl. am. Acts 1961, ch. 97, § 3; T.C.A. (orig. ed.), § 9-207.
The commissioner of finance and administration shall settle with the banks, insurance companies, tax collectors, and clerks, and all other corporations, companies, officers and persons, all accounts of moneys due from them, or any of them, which have been appropriated to the use of common schools, and which are by law subject to annual distribution, and shall charge the same, and keep a full account thereof, in books to be kept for the purpose, and shall issue such commissioner's warrant for the payment thereof into the treasury in the same manner as for the payment of the revenue of the state.
Code 1858, § 208 (deriv. Acts 1837-1838, ch. 148, § 45); Shan., §258; Code 1932, § 202; impl. am. Acts 1937, ch. 33, §§24, 29; C. Supp. 1950, § 202; impl. am. Acts 1959, ch. 9, §3; impl. am. Acts 1961, ch. 97, § 3; T.C.A. (orig. ed.), § 9-207.
Tenn. Code Ann. § 9-13-106 — TN Code / Title 9 / Chapter 13 / Section 9-13-106
Consideration by funding board - Manner of making loan - Repayment - Interest
Status: in_force

(a) The funding board shall independently consider any application for loan assistance as herein provided, and, on the concurrence of two-thirds (2/3) of its membership, authorize the board of equalization to lend to a municipality or county an amount not to exceed eighty percent (80%) of the local revenues shown to be lost as a result of such circumstances. Such loans shall be made only upon notes executed by the chief executive officer of the municipality or county showing on their face the concurrence of three-fourths (¾) of the governing body of the municipality or county and evidencing an attested copy of the official minutes showing such concurrence. (b) The loans shall be repayable with interest at the rate of two percent (2%) in equal installments commencing two (2) years following the date of the note and extending not more than five (5) years from the day of the first payment. Acts 1966 (2nd Ex. Sess.), ch. 3, § 6; T.C.A., § 9-1306.
(a) The funding board shall independently consider any application for loan assistance as herein provided, and, on the concurrence of two-thirds (2/3) of its membership, authorize the board of equalization to lend to a municipality or county an amount not to exceed eighty percent (80%) of the local revenues shown to be lost as a result of such circumstances. Such loans shall be made only upon notes executed by the chief executive officer of the municipality or county showing on their face the concurrence of three-fourths (¾) of the governing body of the municipality or county and evidencing an attested copy of the official minutes showing such concurrence.
(b) The loans shall be repayable with interest at the rate of two percent (2%) in equal installments commencing two (2) years following the date of the note and extending not more than five (5) years from the day of the first payment.
Acts 1966 (2nd Ex. Sess.), ch. 3, § 6; T.C.A., § 9-1306.
Tenn. Code Ann. § 9-21-131 — TN Code / Title 9 / Chapter 21 / Section 9-21-131
Agreements concerning rights and remedies of parties - Jurisdiction - Applicable law
Status: in_force

When entering into any contracts or agreements authorized under this chapter, including contracts or agreements providing for liquidity and credit enhancement and reimbursement agreements relating thereto, interest rate swap or exchange agreements, agreements establishing interest rate floors or ceilings or both, other interest rate hedging agreements, evidencing a transaction bearing a reasonable relationship to this state and also to another state or nation, the local government may agree in the written contract or agreement that the rights and remedies of the parties thereto shall be governed by the laws of this state or the laws of such other state or nation; provided, that jurisdiction over any local government against which an action on such a contract or agreement is brought shall lie solely in a court located in Tennessee which would otherwise have jurisdiction of actions brought in contract against such local government. Acts 1999, ch. 432, § 2.
When entering into any contracts or agreements authorized under this chapter, including contracts or agreements providing for liquidity and credit enhancement and reimbursement agreements relating thereto, interest rate swap or exchange agreements, agreements establishing interest rate floors or ceilings or both, other interest rate hedging agreements, evidencing a transaction bearing a reasonable relationship to this state and also to another state or nation, the local government may agree in the written contract or agreement that the rights and remedies of the parties thereto shall be governed by the laws of this state or the laws of such other state or nation; provided, that jurisdiction over any local government against which an action on such a contract or agreement is brought shall lie solely in a court located in Tennessee which would otherwise have jurisdiction of actions brought in contract against such local government.
Acts 1999, ch. 432, § 2.
Tenn. Code Ann. § 9-1-102 — TN Code / Title 9 / Chapter 1 / Section 9-1-102
Borrowing by state employees and officials restricted
Status: in_force

State employees and officials are prohibited from borrowing money upon the faith and credit of the state for any purpose whatever, except as otherwise provided by law. Acts 1877, ch. 56, § 1; Shan., § 241a1; Code 1932, § 184; T.C.A. (orig. ed.), § 9-102; Acts 1985, ch. 118, § 2.
State employees and officials are prohibited from borrowing money upon the faith and credit of the state for any purpose whatever, except as otherwise provided by law.
Acts 1877, ch. 56, § 1; Shan., § 241a1; Code 1932, § 184; T.C.A. (orig. ed.), § 9-102; Acts 1985, ch. 118, § 2.
Tenn. Code Ann. § 9-9-114 — TN Code / Title 9 / Chapter 9 / Section 9-9-114
Records of state obligations payments
Status: in_force

The secretary of the funding board shall keep, or cause to be kept, appropriate records concerning the payment of obligations of the state issued under this chapter, including information regarding items redeemed. Acts 1957, ch. 297, § 1; T.C.A., § 9-925; Acts 2000, ch. 598, § 3.
The secretary of the funding board shall keep, or cause to be kept, appropriate records concerning the payment of obligations of the state issued under this chapter, including information regarding items redeemed.
Acts 1957, ch. 297, § 1; T.C.A., § 9-925; Acts 2000, ch. 598, § 3.
Tenn. Code Ann. § 9-8-109 — TN Code / Title 9 / Chapter 8 / Section 9-8-109
Risk management fund
Status: in_force

(a) A risk management fund shall be established as a separate account in the state treasury. Amounts remaining in the fund at the end of each fiscal year shall not revert to the general fund. Moneys in the risk management fund shall be invested by the state treasurer pursuant to chapter 4, part 6 of this title, for the sole benefit of that fund. (b) The board of claims shall recommend annually to the commissioner of finance and administration the total occurrence basis funding required to satisfy the liabilities arising under this chapter, the liabilities arising under title 12, chapter 3, part 9 and the contribution required of each state department, agency and institution, including higher education, needed to achieve the required funding. (c) The claims commission shall forward to the division of claims and risk management all of its decisions after they become final. The division of claims and risk management shall pay all claims for which the state is liable after the decision becomes final. Claim awards from the commission or the board of claims, as well as settlements, shall be paid only from funds appropriated or reserved for that purpose. There is hereby appropriated a sum sufficient to the risk management fund for the purpose of paying claims; provided, that awards made pursuant to actions founded upon express contract or breach thereof or awards made for the recovery of taxes shall not be paid from the risk management fund, but instead shall be paid from other funds in accordance with procedures established by the board of claims and approved by the commissioner of finance and administration. (d) (1) Expenses payable from the risk management fund include those attributable to: (A) Defending state employees pursuant to title 8, chapter 42; (B) Defending the state pursuant to part 3 of this chapter; (C) The division of claims and risk management; and (D) The Tennessee claims commission. (2) Expenses attributable to the following may be paid from the risk management fund: (A) The department of treasury's casualty risk program; (B) Initial and continuing capital to fund the state's captive insurance company; (C) Expenses for the operation of the state's captive insurance company; (D) Premium payments for covered entities; (E) Expenses and losses arising pursuant to title 12, chapter 4, part 10; and (F) Expenses and costs relative to the centralized system described in § 9-8-409 , including, but not limited to, salary and benefit costs for employees to administer the centralized system. (3) Expenses pursuant to this subsection (d) are subject to annual appropriations and chapter 4, part 51 of this title. (4) Subsequent to the close of each fiscal year, the attorney general and reporter shall provide to the state board of claims a report describing the manner in which funds received from the risk management fund were used in defending actions brought against the state and its employees. Amended by 2022 Tenn. Acts, ch. 1004, s 2, eff. 5/5/2022. Amended by 2021 Tenn. Acts, ch. 366, s 2, eff. 5/11/2021. Acts 1984, ch. 972, § 17; 1985, ch. 105, § 17; 1995, ch. 260, § 1; 2003 , ch. 212, §§ 1-3, 8; 2004, ch. 448, § 1.
(a) A risk management fund shall be established as a separate account in the state treasury. Amounts remaining in the fund at the end of each fiscal year shall not revert to the general fund. Moneys in the risk management fund shall be invested by the state treasurer pursuant to chapter 4, part 6 of this title, for the sole benefit of that fund.
(b) The board of claims shall recommend annually to the commissioner of finance and administration the total occurrence basis funding required to satisfy the liabilities arising under this chapter, the liabilities arising under title 12, chapter 3, part 9 and the contribution required of each state department, agency and institution, including higher education, needed to achieve the required funding.
(c) The claims commission shall forward to the division of claims and risk management all of its decisions after they become final. The division of claims and risk management shall pay all claims for which the state is liable after the decision becomes final. Claim awards from the commission or the board of claims, as well as settlements, shall be paid only from funds appropriated or reserved for that purpose. There is hereby appropriated a sum sufficient to the risk management fund for the purpose of paying claims; provided, that awards made pursuant to actions founded upon express contract or breach thereof or awards made for the recovery of taxes shall not be paid from the risk management fund, but instead shall be paid from other funds in accordance with procedures established by the board of claims and approved by the commissioner of finance and administration.
(d) (1) Expenses payable from the risk management fund include those attributable to: (A) Defending state employees pursuant to title 8, chapter 42; (B) Defending the state pursuant to part 3 of this chapter; (C) The division of claims and risk management; and (D) The Tennessee claims commission. (2) Expenses attributable to the following may be paid from the risk management fund: (A) The department of treasury's casualty risk program; (B) Initial and continuing capital to fund the state's captive insurance company; (C) Expenses for the operation of the state's captive insurance company; (D) Premium payments for covered entities; (E) Expenses and losses arising pursuant to title 12, chapter 4, part 10; and (F) Expenses and costs relative to the centralized system described in § 9-8-409 , including, but not limited to, salary and benefit costs for employees to administer the centralized system. (3) Expenses pursuant to this subsection (d) are subject to annual appropriations and chapter 4, part 51 of this title. (4) Subsequent to the close of each fiscal year, the attorney general and reporter shall provide to the state board of claims a report describing the manner in which funds received from the risk management fund were used in defending actions brought against the state and its employees.
(1) Expenses payable from the risk management fund include those attributable to: (A) Defending state employees pursuant to title 8, chapter 42; (B) Defending the state pursuant to part 3 of this chapter; (C) The division of claims and risk management; and (D) The Tennessee claims commission.
(A) Defending state employees pursuant to title 8, chapter 42;
(B) Defending the state pursuant to part 3 of this chapter;
(C) The division of claims and risk management; and
(D) The Tennessee claims commission.
(2) Expenses attributable to the following may be paid from the risk management fund: (A) The department of treasury's casualty risk program; (B) Initial and continuing capital to fund the state's captive insurance company; (C) Expenses for the operation of the state's captive insurance company; (D) Premium payments for covered entities; (E) Expenses and losses arising pursuant to title 12, chapter 4, part 10; and (F) Expenses and costs relative to the centralized system described in § 9-8-409 , including, but not limited to, salary and benefit costs for employees to administer the centralized system.
(A) The department of treasury's casualty risk program;
(B) Initial and continuing capital to fund the state's captive insurance company;
(C) Expenses for the operation of the state's captive insurance company;
(D) Premium payments for covered entities;
(E) Expenses and losses arising pursuant to title 12, chapter 4, part 10; and
(F) Expenses and costs relative to the centralized system described in § 9-8-409 , including, but not limited to, salary and benefit costs for employees to administer the centralized system.
(3) Expenses pursuant to this subsection (d) are subject to annual appropriations and chapter 4, part 51 of this title.
(4) Subsequent to the close of each fiscal year, the attorney general and reporter shall provide to the state board of claims a report describing the manner in which funds received from the risk management fund were used in defending actions brought against the state and its employees.
Amended by 2022 Tenn. Acts, ch. 1004, s 2, eff. 5/5/2022.
Amended by 2021 Tenn. Acts, ch. 366, s 2, eff. 5/11/2021.
Acts 1984, ch. 972, § 17; 1985, ch. 105, § 17; 1995, ch. 260, § 1; 2003 , ch. 212, §§ 1-3, 8; 2004, ch. 448, § 1.
Tenn. Code Ann. § 9-4-5611 — TN Code / Title 9 / Chapter 4 / Section 9-4-5611
Admissibility of information in judicial proceeding or administrative hearing
Status: in_force

(a) Notwithstanding subsection (c), to achieve full and candid participation in the planning and audit process, no strategic plan or performance review, or any information generated solely for or by any such plan or review, shall be admissible in any judicial proceeding or administrative hearing. (b) Any documents or information referenced in any such plan or audit that exist independently of the planning and review process shall not be subject to the prohibition of subsection (a). The admissibility of such documents and information shall be determined in accordance with the rules of evidence and standards otherwise applicable to any such proceeding. (c) Each strategic plan and performance review shall be a public record under title 10, chapter 7. Acts 2002, ch. 875, § 1.
(a) Notwithstanding subsection (c), to achieve full and candid participation in the planning and audit process, no strategic plan or performance review, or any information generated solely for or by any such plan or review, shall be admissible in any judicial proceeding or administrative hearing.
(b) Any documents or information referenced in any such plan or audit that exist independently of the planning and review process shall not be subject to the prohibition of subsection (a). The admissibility of such documents and information shall be determined in accordance with the rules of evidence and standards otherwise applicable to any such proceeding.
(c) Each strategic plan and performance review shall be a public record under title 10, chapter 7.
Acts 2002, ch. 875, § 1.
Tenn. Code Ann. § 9-4-1404 — TN Code / Title 9 / Chapter 4 / Section 9-4-1404
Authority of the state treasurer
Status: in_force

(a) The state treasurer has final authority over an investment or proxy voting decision for a program. (b) The state treasurer may make and enter into contracts, agreements, and other instruments with an individual or entity to effectuate this part, including, but not limited to, advisors, research providers, consultants, and other contractors, who must be compensated as the state treasurer may deem just. (c) Notwithstanding another law to the contrary, in cases where the interest of the state treasurer requires additional legal counsel to effectuate this part and to advise on issues concerning the state treasurer's fiduciary obligations and responsibilities, the state treasurer, with the approval of the attorney general and reporter, may contract with additional counsel, who must be paid such compensation for services as the treasurer may deem just. Added by 2023 Tenn. Acts, ch. 471, s 1, eff. 5/17/2023.
(a) The state treasurer has final authority over an investment or proxy voting decision for a program.
(b) The state treasurer may make and enter into contracts, agreements, and other instruments with an individual or entity to effectuate this part, including, but not limited to, advisors, research providers, consultants, and other contractors, who must be compensated as the state treasurer may deem just.
(c) Notwithstanding another law to the contrary, in cases where the interest of the state treasurer requires additional legal counsel to effectuate this part and to advise on issues concerning the state treasurer's fiduciary obligations and responsibilities, the state treasurer, with the approval of the attorney general and reporter, may contract with additional counsel, who must be paid such compensation for services as the treasurer may deem just.
Added by 2023 Tenn. Acts, ch. 471, s 1, eff. 5/17/2023.
Tenn. Code Ann. § 9-2-119 — TN Code / Title 9 / Chapter 2 / Section 9-2-119
Commissions lost by default
Status: in_force

On settlement, the defaulting clerk or judge is not allowed a credit for any commissions on the money in regard to which such clerk or judge made the default. Code 1858, § 515 (deriv. Acts 1839-1840, ch. 85, § 1); Shan., §1025; mod. Code 1932, § 1754; impl. am. Acts 1979, ch. 68, §§ 2, 3; T.C.A. (orig. ed.), § 9-219.
On settlement, the defaulting clerk or judge is not allowed a credit for any commissions on the money in regard to which such clerk or judge made the default.
Code 1858, § 515 (deriv. Acts 1839-1840, ch. 85, § 1); Shan., §1025; mod. Code 1932, § 1754; impl. am. Acts 1979, ch. 68, §§ 2, 3; T.C.A. (orig. ed.), § 9-219.
Tenn. Code Ann. § 9-8-303 — TN Code / Title 9 / Chapter 8 / Section 9-8-303
Compensation
Status: in_force

The commissioners of the claims commission shall receive the same compensation as a Class 1 commissioner. Acts 1984, ch. 972, § 3.
The commissioners of the claims commission shall receive the same compensation as a Class 1 commissioner.
Acts 1984, ch. 972, § 3.
Tenn. Code Ann. § 9-13-209 — TN Code / Title 9 / Chapter 13 / Section 9-13-209
Payment of costs - Administrative personnel
Status: in_force

(a) When a local government is granted a loan guarantee, any costs as determined and approved by the state funding board which are associated with providing the loan guarantee or technical assistance, including, but not limited to, the services of the comptroller of the treasury or the comptroller's designee and other personnel, shall be borne by such local government; provided, that such costs shall not exceed five percent (5%) of the amount of the loan guarantee. (b) The comptroller of the treasury shall provide any staff necessary to administer this part; provided, that, whenever possible and feasible, the comptroller of the treasury or the comptroller's designee will utilize employees of such local government, county technical assistance service, or municipal technical advisory service to assist in the administrative tasks. Acts 1984, ch. 996, § 10; 1995, ch. 63, § 1; 2010, ch. 868, § 40.
(a) When a local government is granted a loan guarantee, any costs as determined and approved by the state funding board which are associated with providing the loan guarantee or technical assistance, including, but not limited to, the services of the comptroller of the treasury or the comptroller's designee and other personnel, shall be borne by such local government; provided, that such costs shall not exceed five percent (5%) of the amount of the loan guarantee.
(b) The comptroller of the treasury shall provide any staff necessary to administer this part; provided, that, whenever possible and feasible, the comptroller of the treasury or the comptroller's designee will utilize employees of such local government, county technical assistance service, or municipal technical advisory service to assist in the administrative tasks.
Acts 1984, ch. 996, § 10; 1995, ch. 63, § 1; 2010, ch. 868, § 40.
Tenn. Code Ann. § 9-21-301 — TN Code / Title 9 / Chapter 21 / Section 9-21-301
Authorization for the issuance of revenue bonds
Status: in_force

(a) Any local government is authorized to issue revenue bonds under this part and part 1 of this chapter for a public works project. "Revenue bonds" are defined as those bonds which are payable exclusively from the revenues of one (1) or more public works projects. (b) The bonds may be sold in such blocks as the governing body may by resolution determine. Acts 1986, ch. 770, § 3-1.
(a) Any local government is authorized to issue revenue bonds under this part and part 1 of this chapter for a public works project. "Revenue bonds" are defined as those bonds which are payable exclusively from the revenues of one (1) or more public works projects.
(b) The bonds may be sold in such blocks as the governing body may by resolution determine.
Acts 1986, ch. 770, § 3-1.
Tenn. Code Ann. § 9-4-522 — TN Code / Title 9 / Chapter 4 / Section 9-4-522
Deposits of funds - Operating expenses
Status: in_force

Any fees collected under this part shall be paid into the treasury of the state, and the same are hereby appropriated exclusively to the department of the treasury to be used in carrying out this part. Acts 1990, ch. 1043, § 1.
Any fees collected under this part shall be paid into the treasury of the state, and the same are hereby appropriated exclusively to the department of the treasury to be used in carrying out this part.
Acts 1990, ch. 1043, § 1.
Tenn. Code Ann. § 9-9-109 — TN Code / Title 9 / Chapter 9 / Section 9-9-109
Custodian for securities
Status: in_force

The state funding board is expressly authorized to contract with a bank or trust company located within or without this state to act as a custodian for securities held by or for the benefit of the board, including collateral pledged pursuant to § 9-9-108(1) , under terms as the board may require to ensure the safety of the securities. Acts 1937, ch. 165, § 3 (Williams, § 1811.14); impl. am. Acts 1959, ch. 9, § 8; T.C.A. (orig. ed.), § 9-910; Acts 1985, ch. 118, § 66; 2000, ch. 598, § 2.
The state funding board is expressly authorized to contract with a bank or trust company located within or without this state to act as a custodian for securities held by or for the benefit of the board, including collateral pledged pursuant to § 9-9-108(1) , under terms as the board may require to ensure the safety of the securities.
Acts 1937, ch. 165, § 3 (Williams, § 1811.14); impl. am. Acts 1959, ch. 9, § 8; T.C.A. (orig. ed.), § 9-910; Acts 1985, ch. 118, § 66; 2000, ch. 598, § 2.
Tenn. Code Ann. § 9-13-212 — TN Code / Title 9 / Chapter 13 / Section 9-13-212
Issuance of notes - Guidelines - Use for operational expenses
Status: in_force

Notes issued pursuant to this part shall be issued in the manner provided by chapter 21, parts 1, 4, 6, and 8 of this title. Notwithstanding any other law to the contrary, any notes issued pursuant to this part may be used for operational expenses and extend past the current fiscal year. Acts 1992, ch. 526, § 9; 1995, ch. 63, § 1; 2010, ch. 1117, § 5.
Notes issued pursuant to this part shall be issued in the manner provided by chapter 21, parts 1, 4, 6, and 8 of this title. Notwithstanding any other law to the contrary, any notes issued pursuant to this part may be used for operational expenses and extend past the current fiscal year.
Acts 1992, ch. 526, § 9; 1995, ch. 63, § 1; 2010, ch. 1117, § 5.
Tenn. Code Ann. § 9-21-212 — TN Code / Title 9 / Chapter 21 / Section 9-21-212
Waiting period for new election
Status: in_force

If an election on the proposition to issue general obligation bonds is had and a majority of the registered voters voting on the proposition do not vote in favor of the issuance of the general obligation bonds in question, then the proposition shall not again be the subject of an initial resolution until three (3) months have expired from the date of such election. Acts 1986, ch. 770, § 2-12.
If an election on the proposition to issue general obligation bonds is had and a majority of the registered voters voting on the proposition do not vote in favor of the issuance of the general obligation bonds in question, then the proposition shall not again be the subject of an initial resolution until three (3) months have expired from the date of such election.
Acts 1986, ch. 770, § 2-12.
Tenn. Code Ann. § 9-4-5102 — TN Code / Title 9 / Chapter 4 / Section 9-4-5102
Performance-based program budgeting
Status: in_force

It is the intent of the general assembly that, to the extent practicable, the budget of the state government shall be prepared using performance data and other relevant program measures. The goals for such budget shall include: (1) For each budget unit, detailed statements identifying all substantial aspects of agency operations, priorities, and activities, to specifically include: (A) A description of the objective or objectives of each program; (B) A description of the activity or activities which are intended to accomplish each objective; (C) Indicators of quantity and quality of performance of these activities; and (D) The level of effort required to accomplish each activity in terms of funds and personnel; and (2) A summary statement incorporating the information in subdivision (1) for the current and one (1) prior fiscal year for each budget unit and detailed statements of the sources of funding for all fiscal years presented. Amended by 2013 Tenn. Acts, ch. 243,s 4, eff. 4/19/2013. Acts 1977, ch. 457, § 1; T.C.A., § 9-616; Acts 1984, ch. 771, § 1; T.C.A. § 9-6-102; Acts 2002, ch. 875, § 6.
It is the intent of the general assembly that, to the extent practicable, the budget of the state government shall be prepared using performance data and other relevant program measures. The goals for such budget shall include:
(1) For each budget unit, detailed statements identifying all substantial aspects of agency operations, priorities, and activities, to specifically include: (A) A description of the objective or objectives of each program; (B) A description of the activity or activities which are intended to accomplish each objective; (C) Indicators of quantity and quality of performance of these activities; and (D) The level of effort required to accomplish each activity in terms of funds and personnel; and
(A) A description of the objective or objectives of each program;
(B) A description of the activity or activities which are intended to accomplish each objective;
(C) Indicators of quantity and quality of performance of these activities; and
(D) The level of effort required to accomplish each activity in terms of funds and personnel; and
(2) A summary statement incorporating the information in subdivision (1) for the current and one (1) prior fiscal year for each budget unit and detailed statements of the sources of funding for all fiscal years presented.
Amended by 2013 Tenn. Acts, ch. 243,s 4, eff. 4/19/2013.
Acts 1977, ch. 457, § 1; T.C.A., § 9-616; Acts 1984, ch. 771, § 1; T.C.A. § 9-6-102; Acts 2002, ch. 875, § 6.
Tenn. Code Ann. § 9-3-206 — TN Code / Title 9 / Chapter 3 / Section 9-3-206
Access to records
Status: in_force

These auditors shall have access to all books, records and accounts, including the official bank accounts of any such officials, for the purpose of making their audits and their reports. Acts 1923, ch. 109, § 5; Shan. Supp., § 948a14; Code 1932, § 1658; T.C.A. (orig. ed.), §§ 9-307, 9-3-106; Acts 1985, ch. 118, § 8.
These auditors shall have access to all books, records and accounts, including the official bank accounts of any such officials, for the purpose of making their audits and their reports.
Acts 1923, ch. 109, § 5; Shan. Supp., § 948a14; Code 1932, § 1658; T.C.A. (orig. ed.), §§ 9-307, 9-3-106; Acts 1985, ch. 118, § 8.
Tenn. Code Ann. § 9-4-208 — TN Code / Title 9 / Chapter 4 / Section 9-4-208
Appropriations to promote industries and facilities involving modern technologies - Audits
Status: in_force

(a) It is in the interest of this state to promote, encourage and foster the commercial and economic interests of the state by attraction of industries, educational and research facilities, and other facilities involving modern technologies. In furtherance of this end, the general assembly may appropriate funds to organizations that carry out these purposes. (b) The comptroller of the treasury shall have the authority to audit any funds appropriated and/or expended pursuant to this section. Acts 1984, ch. 970, § 1; T.C.A. § 9-6-117.
(a) It is in the interest of this state to promote, encourage and foster the commercial and economic interests of the state by attraction of industries, educational and research facilities, and other facilities involving modern technologies. In furtherance of this end, the general assembly may appropriate funds to organizations that carry out these purposes.
(b) The comptroller of the treasury shall have the authority to audit any funds appropriated and/or expended pursuant to this section.
Acts 1984, ch. 970, § 1; T.C.A. § 9-6-117.
Tenn. Code Ann. § 9-4-5402 — TN Code / Title 9 / Chapter 4 / Section 9-4-5402
Purpose
Status: in_force

The purpose of this part is to require state agencies to act with deliberate planning and with maximum feasible input of concerned citizens, religious congregations, nonprofit agencies and service providers and their clients/customers and board members and local government officials, in implementing reorganizations and new priority decisions related to receipt of federal block grants or other state decisions related to the devolution of policy and funding decisions from the federal government to the state. Acts 1996, ch. 1062, § 2; T.C.A. § 9-6-402.
The purpose of this part is to require state agencies to act with deliberate planning and with maximum feasible input of concerned citizens, religious congregations, nonprofit agencies and service providers and their clients/customers and board members and local government officials, in implementing reorganizations and new priority decisions related to receipt of federal block grants or other state decisions related to the devolution of policy and funding decisions from the federal government to the state.
Acts 1996, ch. 1062, § 2; T.C.A. § 9-6-402.
Tenn. Code Ann. § 9-21-609 — TN Code / Title 9 / Chapter 21 / Section 9-21-609
Sale of capital outlay notes by informal bid process
Status: in_force

If capital outlay notes are authorized to be sold by an informal bid process, the local government or its designee shall contact at least three (3) financial institutions by telephone or letter to request such financial institutions to provide a rate or rates of interest for the term or terms of such notes. If the informal bid process is used, the local government or its designee shall provide the comptroller of the treasury or the comptroller's designee a summary of the rate quotes received from financial institutions with its request for approval of the sale of the capital outlay notes. Any recurring fees that will be included as part of the interest rate over and above the bank rate must be identified. Amended by 2022 Tenn. Acts, ch. 822, Secs.s1, s2 eff. 4/14/2022. Amended by 2021 Tenn. Acts, ch. 128, s 18, eff. 4/13/2021. Acts 1986, ch. 770, § 6-9; 1993, ch. 514, §§ 6-8, 10; 2005, ch. 393, § 7; 2010 , ch. 868, § 57.
If capital outlay notes are authorized to be sold by an informal bid process, the local government or its designee shall contact at least three (3) financial institutions by telephone or letter to request such financial institutions to provide a rate or rates of interest for the term or terms of such notes. If the informal bid process is used, the local government or its designee shall provide the comptroller of the treasury or the comptroller's designee a summary of the rate quotes received from financial institutions with its request for approval of the sale of the capital outlay notes. Any recurring fees that will be included as part of the interest rate over and above the bank rate must be identified.
Amended by 2022 Tenn. Acts, ch. 822, Secs.s1, s2 eff. 4/14/2022.
Amended by 2021 Tenn. Acts, ch. 128, s 18, eff. 4/13/2021.
Acts 1986, ch. 770, § 6-9; 1993, ch. 514, §§ 6-8, 10; 2005, ch. 393, § 7; 2010 , ch. 868, § 57.
Tenn. Code Ann. § 9-13-102 — TN Code / Title 9 / Chapter 13 / Section 9-13-102
Reduction of assessment of utility property as prerequisite for loan
Status: in_force

Such loans shall be made only to such municipalities or counties as can be shown to have incurred unanticipated losses of revenue necessitated or prompted by decrees or orders of competent courts reducing the assessments of railroad or public utility properties which are centrally assessed by the comptroller of the treasury and the state board of equalization. Acts 1966 (2nd Ex. Sess.), ch. 3, § 2; T.C.A., § 9-1302; Acts 1995, ch. 305, § 95.
Such loans shall be made only to such municipalities or counties as can be shown to have incurred unanticipated losses of revenue necessitated or prompted by decrees or orders of competent courts reducing the assessments of railroad or public utility properties which are centrally assessed by the comptroller of the treasury and the state board of equalization.
Acts 1966 (2nd Ex. Sess.), ch. 3, § 2; T.C.A., § 9-1302; Acts 1995, ch. 305, § 95.
Tenn. Code Ann. § 9-21-311 — TN Code / Title 9 / Chapter 21 / Section 9-21-311
Appointment of receiver on default
Status: in_force

(a) In the event that the local government shall default in the payment of the principal of or interest on any of the revenue bonds after the same shall become due, whether at maturity or upon call for redemption, and the default shall continue for a period of thirty (30) days, or in the event that the local government or the governing body or its officers, agents or employees shall fail or refuse to comply with this chapter or shall default in any agreement made with the holders of the revenue bonds, then any holder of revenue bonds, or trustee therefor, shall have the right to file a petition in the nature of a general creditor's bill in the chancery court of the county in which the public works project is situated, or if the public works project is situated in more than one (1) county, in the chancery court of any county in which any portion of the public works project is situated, or in any court of competent jurisdiction, for the appointment of a receiver of the public works project. The petition may be filed whether or not all the revenue bonds have been declared due and payable and whether or not the holder or holders or trustee therefor is seeking or has sought to enforce any other right, or exercise any remedy in connection with the revenue bonds. (b) Upon application, the chancery court may appoint a receiver of the public works project. The chancery court shall appoint a receiver of the public works project if the application is made by the holders of twenty-five percent (25%) in principal amount of the revenue bonds then outstanding or by any trustee for holders of the revenue bonds in that principal amount. Acts 1986, ch. 770, § 3-11.
(a) In the event that the local government shall default in the payment of the principal of or interest on any of the revenue bonds after the same shall become due, whether at maturity or upon call for redemption, and the default shall continue for a period of thirty (30) days, or in the event that the local government or the governing body or its officers, agents or employees shall fail or refuse to comply with this chapter or shall default in any agreement made with the holders of the revenue bonds, then any holder of revenue bonds, or trustee therefor, shall have the right to file a petition in the nature of a general creditor's bill in the chancery court of the county in which the public works project is situated, or if the public works project is situated in more than one (1) county, in the chancery court of any county in which any portion of the public works project is situated, or in any court of competent jurisdiction, for the appointment of a receiver of the public works project. The petition may be filed whether or not all the revenue bonds have been declared due and payable and whether or not the holder or holders or trustee therefor is seeking or has sought to enforce any other right, or exercise any remedy in connection with the revenue bonds.
(b) Upon application, the chancery court may appoint a receiver of the public works project. The chancery court shall appoint a receiver of the public works project if the application is made by the holders of twenty-five percent (25%) in principal amount of the revenue bonds then outstanding or by any trustee for holders of the revenue bonds in that principal amount.
Acts 1986, ch. 770, § 3-11.
Tenn. Code Ann. § 9-21-209 — TN Code / Title 9 / Chapter 21 / Section 9-21-209
Election resolution
Status: in_force

If it is necessary to hold an election on the proposition to issue general obligation bonds or if the governing body decides to hold an election to ascertain the will of the electorate even if no petition has been filed, then the election shall be called by the governing body of the local government. Such election shall be held as an election on a question by the county election commission pursuant to § 2-3-204 . The governing body shall adopt a resolution (herein called the "election resolution") which shall supersede by its adoption, and immediately upon its adoption, the initial resolution, if any. The election resolution shall state in substance: (1) The amount or maximum amount of general obligation bonds to be issued; (2) The public works project or projects for which the general obligation bonds are to be issued; (3) The rate or maximum rate of interest which the general obligation bonds are to bear; (4) A brief concise statement that the general obligation bonds will be payable: (A) From ad valorem taxes levied upon all the taxable property in the local government or a portion of the local government, if applicable, and if the latter, then a brief statement or description of such portion of the local government; (B) From revenues and, in the event of a deficiency in such revenues, from taxes; or (C) From taxes, and additionally secured by a pledge of revenues; (5) A proposition to issue the general obligation bonds as it is to appear on the ballot, including the maximum amount of such bonds to be authorized and the public works project or projects for which such bonds are to be issued; and (6) That the county election commission is to hold the election. Acts 1986, ch. 770, § 2-9; 1998, ch. 618, § 1.
If it is necessary to hold an election on the proposition to issue general obligation bonds or if the governing body decides to hold an election to ascertain the will of the electorate even if no petition has been filed, then the election shall be called by the governing body of the local government. Such election shall be held as an election on a question by the county election commission pursuant to § 2-3-204 . The governing body shall adopt a resolution (herein called the "election resolution") which shall supersede by its adoption, and immediately upon its adoption, the initial resolution, if any. The election resolution shall state in substance:
(1) The amount or maximum amount of general obligation bonds to be issued;
(2) The public works project or projects for which the general obligation bonds are to be issued;
(3) The rate or maximum rate of interest which the general obligation bonds are to bear;
(4) A brief concise statement that the general obligation bonds will be payable: (A) From ad valorem taxes levied upon all the taxable property in the local government or a portion of the local government, if applicable, and if the latter, then a brief statement or description of such portion of the local government; (B) From revenues and, in the event of a deficiency in such revenues, from taxes; or (C) From taxes, and additionally secured by a pledge of revenues;
(A) From ad valorem taxes levied upon all the taxable property in the local government or a portion of the local government, if applicable, and if the latter, then a brief statement or description of such portion of the local government;
(B) From revenues and, in the event of a deficiency in such revenues, from taxes; or
(C) From taxes, and additionally secured by a pledge of revenues;
(5) A proposition to issue the general obligation bonds as it is to appear on the ballot, including the maximum amount of such bonds to be authorized and the public works project or projects for which such bonds are to be issued; and
(6) That the county election commission is to hold the election.
Acts 1986, ch. 770, § 2-9; 1998, ch. 618, § 1.
Tenn. Code Ann. § 9-4-903 — TN Code / Title 9 / Chapter 4 / Section 9-4-903
Interest
Status: in_force

Interest accruing on investments and deposits of the fund shall be returned to the fund and remain a part of the fund. Acts 1993, ch. 332, § 1.
Interest accruing on investments and deposits of the fund shall be returned to the fund and remain a part of the fund.
Acts 1993, ch. 332, § 1.
Tenn. Code Ann. § 9-13-107 — TN Code / Title 9 / Chapter 13 / Section 9-13-107
Default - Withholding state funds
Status: in_force

In the event of default in the payment of any installment upon any loan made pursuant to this part, the board of equalization shall give notice of such default to the commissioner of finance and administration and the state treasurer. The commissioner shall thereupon withhold any distribution to the municipality or county of any funds otherwise distributable to it under the terms of any statute of this state until any and all arrearages have been paid by the municipality or county. Acts 1966 (2nd Ex. Sess.), ch. 3, § 7; T.C.A., § 9-1307.
In the event of default in the payment of any installment upon any loan made pursuant to this part, the board of equalization shall give notice of such default to the commissioner of finance and administration and the state treasurer. The commissioner shall thereupon withhold any distribution to the municipality or county of any funds otherwise distributable to it under the terms of any statute of this state until any and all arrearages have been paid by the municipality or county.
Acts 1966 (2nd Ex. Sess.), ch. 3, § 7; T.C.A., § 9-1307.
Tenn. Code Ann. § 9-3-303 — TN Code / Title 9 / Chapter 3 / Section 9-3-303
Right to appeal the determination of comptroller of the treasury
Status: in_force

Any county or county official aggrieved by the determination of the comptroller of the treasury may appeal such decision to the chancery court of the county where the misappropriation occurred. Acts 1972, ch. 835, § 3; T.C.A., §§ 9-318, 9-3-203; Acts 1985, ch. 118, § 8.
Any county or county official aggrieved by the determination of the comptroller of the treasury may appeal such decision to the chancery court of the county where the misappropriation occurred.
Acts 1972, ch. 835, § 3; T.C.A., §§ 9-318, 9-3-203; Acts 1985, ch. 118, § 8.
Tenn. Code Ann. § 9-19-108 — TN Code / Title 9 / Chapter 19 / Section 9-19-108
Interest
Status: in_force

Interest on fully registered public obligations shall be payable on such dates as shall be specified in the official actions authorizing such obligations to the record owners of such obligations as of such record dates as shall be specified in the official actions. Acts 1983, ch. 100, § 8.
Interest on fully registered public obligations shall be payable on such dates as shall be specified in the official actions authorizing such obligations to the record owners of such obligations as of such record dates as shall be specified in the official actions.
Acts 1983, ch. 100, § 8.
Tenn. Code Ann. § 9-4-302 — TN Code / Title 9 / Chapter 4 / Section 9-4-302
Departmental accounts
Status: in_force

(a) No department, officer or agency of state government, except the state treasurer, shall deposit state funds to the credit of such department, officer or agency in any financial institution except as provided in this section. (b) Whenever the satisfactory conduct of the state's business clearly demands it, and not otherwise, the commissioner of finance and administration, with the approval of the governor and the state treasurer, may authorize establishment of an account in the name of a state department or agency in a state depository. (c) Whenever state officials are required to hold funds in trust as a result of their official duties, such funds may be held in departmental accounts, unless otherwise directed by the commissioner of finance and administration, the governor and the state treasurer. (d) Whenever a departmental account is established, unless otherwise provided, funds in the account shall be invested in accordance with § 9-4-602 . (e) A petty cash account may be allowed by the commissioner of finance and administration to each state department, institution or agency, which shall in the opinion of the commissioner require such account, and such account so established shall be reimbursed only upon statements and bills audited by the department of finance and administration. In the event that a petty cash account requires the establishment of a separate account in a financial institution, such account shall be established in accordance with subsection (b). (f) The commissioner of finance and administration shall promptly notify the comptroller of the treasury of any accounts established pursuant to this section. Acts 1985, ch. 118, § 25; 1986, ch. 923, § 3.
(a) No department, officer or agency of state government, except the state treasurer, shall deposit state funds to the credit of such department, officer or agency in any financial institution except as provided in this section.
(b) Whenever the satisfactory conduct of the state's business clearly demands it, and not otherwise, the commissioner of finance and administration, with the approval of the governor and the state treasurer, may authorize establishment of an account in the name of a state department or agency in a state depository.
(c) Whenever state officials are required to hold funds in trust as a result of their official duties, such funds may be held in departmental accounts, unless otherwise directed by the commissioner of finance and administration, the governor and the state treasurer.
(d) Whenever a departmental account is established, unless otherwise provided, funds in the account shall be invested in accordance with § 9-4-602 .
(e) A petty cash account may be allowed by the commissioner of finance and administration to each state department, institution or agency, which shall in the opinion of the commissioner require such account, and such account so established shall be reimbursed only upon statements and bills audited by the department of finance and administration. In the event that a petty cash account requires the establishment of a separate account in a financial institution, such account shall be established in accordance with subsection (b).
(f) The commissioner of finance and administration shall promptly notify the comptroller of the treasury of any accounts established pursuant to this section.
Acts 1985, ch. 118, § 25; 1986, ch. 923, § 3.
Tenn. Code Ann. § 9-4-902 — TN Code / Title 9 / Chapter 4 / Section 9-4-902
Unencumbered funds and unexpended balance
Status: in_force

Any unencumbered funds and any unexpended balance of the fund remaining at the end of any fiscal year shall not revert to the general fund, but shall be carried forward until expended in accordance with this part. Acts 1993, ch. 332, § 1.
Any unencumbered funds and any unexpended balance of the fund remaining at the end of any fiscal year shall not revert to the general fund, but shall be carried forward until expended in accordance with this part.
Acts 1993, ch. 332, § 1.
Tenn. Code Ann. § 9-4-5608 — TN Code / Title 9 / Chapter 4 / Section 9-4-5608
Evaluation of compliance - Report
Status: in_force

(a) The commissioner of finance and administration shall evaluate at least annually each state agency's strategic plan and program performance measures. When necessary the commissioner of finance and administration shall update each state agency's strategic plan and program performance measures. Such updates shall include comments from the state agency when necessary to explain how the program is performing. (b) The commissioner of finance and administration may make recommendations to the governor and the finance, ways, and means committees of the senate and the house of representatives concerning the following nonexhaustive performance measure incentives or disincentives for potential inclusion in the appropriations bill: (1) Incentives may include, but are not limited to: (A) Additional flexibility in budget management; (B) Additional flexibility in salary rate and position management, notwithstanding title 8, chapter 23, or any other law to the contrary; (C) Retention of up to fifty percent (50%) of unexpended and unencumbered balances of appropriations, excluding special categories and grants in aid, that may be used for nonrecurring purposes including, but not limited to, lump-sum bonuses, employee training, or productivity enhancements, including technology and other improvements; and (D) Additional funds to be used for, but not limited to, lump-sum bonuses, employee training, or productivity enhancements, including technology and other improvements; (2) Disincentives may include, but are not limited to: (A) Mandatory quarterly reports to the governor on the agency's progress in meeting performance standards; (B) Mandatory quarterly appearances before the governor to report on the agency's progress in meeting performance standards; (C) Elimination or restructuring of the program, which may include, but not be limited to, transfer of the program or outsourcing all or a portion of the program; (D) Reduction of total positions for a program; (E) Restriction on or reduction of the appropriation for the program; and (F) Reduction of managerial salaries, notwithstanding the requirements of title 8, chapter 23, or any other law to the contrary. Amended by 2013 Tenn. Acts, ch. 243,s 14, eff. 4/19/2013. Acts 2002, ch. 875, § 1.
(a) The commissioner of finance and administration shall evaluate at least annually each state agency's strategic plan and program performance measures. When necessary the commissioner of finance and administration shall update each state agency's strategic plan and program performance measures. Such updates shall include comments from the state agency when necessary to explain how the program is performing.
(b) The commissioner of finance and administration may make recommendations to the governor and the finance, ways, and means committees of the senate and the house of representatives concerning the following nonexhaustive performance measure incentives or disincentives for potential inclusion in the appropriations bill: (1) Incentives may include, but are not limited to: (A) Additional flexibility in budget management; (B) Additional flexibility in salary rate and position management, notwithstanding title 8, chapter 23, or any other law to the contrary; (C) Retention of up to fifty percent (50%) of unexpended and unencumbered balances of appropriations, excluding special categories and grants in aid, that may be used for nonrecurring purposes including, but not limited to, lump-sum bonuses, employee training, or productivity enhancements, including technology and other improvements; and (D) Additional funds to be used for, but not limited to, lump-sum bonuses, employee training, or productivity enhancements, including technology and other improvements; (2) Disincentives may include, but are not limited to: (A) Mandatory quarterly reports to the governor on the agency's progress in meeting performance standards; (B) Mandatory quarterly appearances before the governor to report on the agency's progress in meeting performance standards; (C) Elimination or restructuring of the program, which may include, but not be limited to, transfer of the program or outsourcing all or a portion of the program; (D) Reduction of total positions for a program; (E) Restriction on or reduction of the appropriation for the program; and (F) Reduction of managerial salaries, notwithstanding the requirements of title 8, chapter 23, or any other law to the contrary.
(1) Incentives may include, but are not limited to: (A) Additional flexibility in budget management; (B) Additional flexibility in salary rate and position management, notwithstanding title 8, chapter 23, or any other law to the contrary; (C) Retention of up to fifty percent (50%) of unexpended and unencumbered balances of appropriations, excluding special categories and grants in aid, that may be used for nonrecurring purposes including, but not limited to, lump-sum bonuses, employee training, or productivity enhancements, including technology and other improvements; and (D) Additional funds to be used for, but not limited to, lump-sum bonuses, employee training, or productivity enhancements, including technology and other improvements;
(A) Additional flexibility in budget management;
(B) Additional flexibility in salary rate and position management, notwithstanding title 8, chapter 23, or any other law to the contrary;
(C) Retention of up to fifty percent (50%) of unexpended and unencumbered balances of appropriations, excluding special categories and grants in aid, that may be used for nonrecurring purposes including, but not limited to, lump-sum bonuses, employee training, or productivity enhancements, including technology and other improvements; and
(D) Additional funds to be used for, but not limited to, lump-sum bonuses, employee training, or productivity enhancements, including technology and other improvements;
(2) Disincentives may include, but are not limited to: (A) Mandatory quarterly reports to the governor on the agency's progress in meeting performance standards; (B) Mandatory quarterly appearances before the governor to report on the agency's progress in meeting performance standards; (C) Elimination or restructuring of the program, which may include, but not be limited to, transfer of the program or outsourcing all or a portion of the program; (D) Reduction of total positions for a program; (E) Restriction on or reduction of the appropriation for the program; and (F) Reduction of managerial salaries, notwithstanding the requirements of title 8, chapter 23, or any other law to the contrary.
(A) Mandatory quarterly reports to the governor on the agency's progress in meeting performance standards;
(B) Mandatory quarterly appearances before the governor to report on the agency's progress in meeting performance standards;
(C) Elimination or restructuring of the program, which may include, but not be limited to, transfer of the program or outsourcing all or a portion of the program;
(D) Reduction of total positions for a program;
(E) Restriction on or reduction of the appropriation for the program; and
(F) Reduction of managerial salaries, notwithstanding the requirements of title 8, chapter 23, or any other law to the contrary.
Amended by 2013 Tenn. Acts, ch. 243,s 14, eff. 4/19/2013.
Acts 2002, ch. 875, § 1.
Tenn. Code Ann. § 9-4-5105 — TN Code / Title 9 / Chapter 4 / Section 9-4-5105
Review of estimates - Transmittal of budget document - Governor's power to amend the budget not restricted or prohibited
Status: in_force

(a) The governor, with the assistance of the commissioner of finance and administration, shall review the estimates, altering, revising, increasing, or decreasing the items of the estimates as the governor may deem necessary in view of the needs of the various spending agencies and the total anticipated revenues of the state government during the ensuing fiscal year. (b) The commissioner, at the instance of the governor, shall then prepare a budget document in the form required by this chapter, and the governor shall transmit such document in printed form to the general assembly prior to February 1, each year unless the general assembly, by joint resolution, authorizes transmittal by a later date; provided, that a governor in the first year of such governor's term in office is required to transmit such budget document in printed form to the general assembly prior to March 1 of that year, unless the general assembly, by joint resolution, authorizes transmittal by a later date. (c) Nothing contained in § 16-3-803 ( l ) or any other law shall be construed to restrict or prohibit the governor's authority to revise the budget, submitted pursuant to §§ 16-3-803 ( l ) and 9-4-5103, for maintenance and operation of the state court system, and such budget or revised budget shall be included within the budget document required by this section. Acts 1937, ch. 33, § 20; 1945, ch. 10, § 1; C. Supp. 1950, § 255.20; impl. am. Acts 1959, ch. 9, § 3; impl. am. Acts 1961, ch. 97, § 3; Acts 1969, ch. 12, §§ 5, 6; 1975, ch. 27, § 1; 1979, ch. 218, § 1; T.C.A. (orig. ed.), § 9-604; Acts 1992, ch. 896, § 2; T.C.A. § 9-6-105.
(a) The governor, with the assistance of the commissioner of finance and administration, shall review the estimates, altering, revising, increasing, or decreasing the items of the estimates as the governor may deem necessary in view of the needs of the various spending agencies and the total anticipated revenues of the state government during the ensuing fiscal year.
(b) The commissioner, at the instance of the governor, shall then prepare a budget document in the form required by this chapter, and the governor shall transmit such document in printed form to the general assembly prior to February 1, each year unless the general assembly, by joint resolution, authorizes transmittal by a later date; provided, that a governor in the first year of such governor's term in office is required to transmit such budget document in printed form to the general assembly prior to March 1 of that year, unless the general assembly, by joint resolution, authorizes transmittal by a later date.
(c) Nothing contained in § 16-3-803 ( l ) or any other law shall be construed to restrict or prohibit the governor's authority to revise the budget, submitted pursuant to §§ 16-3-803 ( l ) and 9-4-5103, for maintenance and operation of the state court system, and such budget or revised budget shall be included within the budget document required by this section.
Acts 1937, ch. 33, § 20; 1945, ch. 10, § 1; C. Supp. 1950, § 255.20; impl. am. Acts 1959, ch. 9, § 3; impl. am. Acts 1961, ch. 97, § 3; Acts 1969, ch. 12, §§ 5, 6; 1975, ch. 27, § 1; 1979, ch. 218, § 1; T.C.A. (orig. ed.), § 9-604; Acts 1992, ch. 896, § 2; T.C.A. § 9-6-105.
Tenn. Code Ann. § 9-13-208 — TN Code / Title 9 / Chapter 13 / Section 9-13-208
Notice of director's approval for purchases or payments
Status: in_force

The state funding board shall publish a notice, in a newspaper of general circulation in any local government which is receiving emergency technical assistance pursuant to this part, that no purchase of or payment for goods, services or equipment or other matters shall be made by such local government without the prior approval of the comptroller of the treasury or the comptroller's designee. Such notice shall be published at least once weekly for two (2) consecutive weeks. Such notice shall also be posted for two (2) consecutive weeks in five (5) conspicuous places in the local government, one (1) of which shall be the courthouse. Acts 1984, ch. 996, § 9; 1995, ch. 63, § 1; 2010, ch. 868, § 39.
The state funding board shall publish a notice, in a newspaper of general circulation in any local government which is receiving emergency technical assistance pursuant to this part, that no purchase of or payment for goods, services or equipment or other matters shall be made by such local government without the prior approval of the comptroller of the treasury or the comptroller's designee. Such notice shall be published at least once weekly for two (2) consecutive weeks. Such notice shall also be posted for two (2) consecutive weeks in five (5) conspicuous places in the local government, one (1) of which shall be the courthouse.
Acts 1984, ch. 996, § 9; 1995, ch. 63, § 1; 2010, ch. 868, § 39.
Tenn. Code Ann. § 9-21-1010 — TN Code / Title 9 / Chapter 21 / Section 9-21-1010
Notice of refunding
Status: in_force

If, at the time of delivery of the revenue refunding bonds, the obligations to be refunded will not be retired or a valid and timely notice of redemption of the outstanding bonds is not given in accordance with the resolution, indenture or other instrument governing the redemption of the outstanding obligations, then, prior to the issuance of the revenue refunding bonds, the governing body shall cause to be given a notice of its intention to issue the revenue refunding bonds. The notice shall be given either by mail to the owners of all the outstanding obligations to be refunded at their addresses shown on the bond registration records for the outstanding obligations or given by publication one (1) time each in a newspaper having a general circulation in the local government and in a financial newspaper published in New York, New York, having a national circulation. The notice shall set forth the estimated date of delivery of the revenue refunding bonds and identify the obligations, or the individual maturities thereof, proposed to be refunded; provided, that if portions of individual maturities are proposed to be refunded, the notice shall identify the maturities subject to partial refunding and the aggregate principal amount to be refunded within each maturity. If the issuance of the revenue refunding bonds does not occur as provided in the notice, the governing body shall cause notice thereof to be given as provided above in this section. Except as otherwise set forth in this section, the notice required pursuant to this section shall be given whether or not any of the obligations to be refunded are to be called for redemption. Acts 1986, ch. 770, § 10-10; 1994, ch. 806, § 8.
If, at the time of delivery of the revenue refunding bonds, the obligations to be refunded will not be retired or a valid and timely notice of redemption of the outstanding bonds is not given in accordance with the resolution, indenture or other instrument governing the redemption of the outstanding obligations, then, prior to the issuance of the revenue refunding bonds, the governing body shall cause to be given a notice of its intention to issue the revenue refunding bonds. The notice shall be given either by mail to the owners of all the outstanding obligations to be refunded at their addresses shown on the bond registration records for the outstanding obligations or given by publication one (1) time each in a newspaper having a general circulation in the local government and in a financial newspaper published in New York, New York, having a national circulation. The notice shall set forth the estimated date of delivery of the revenue refunding bonds and identify the obligations, or the individual maturities thereof, proposed to be refunded; provided, that if portions of individual maturities are proposed to be refunded, the notice shall identify the maturities subject to partial refunding and the aggregate principal amount to be refunded within each maturity. If the issuance of the revenue refunding bonds does not occur as provided in the notice, the governing body shall cause notice thereof to be given as provided above in this section. Except as otherwise set forth in this section, the notice required pursuant to this section shall be given whether or not any of the obligations to be refunded are to be called for redemption.
Acts 1986, ch. 770, § 10-10; 1994, ch. 806, § 8.
Tenn. Code Ann. § 9-9-106 — TN Code / Title 9 / Chapter 9 / Section 9-9-106
Certification of amount necessary for payment of debt obligations
Status: in_force

The state funding board shall certify to the commissioner of finance and administration from time to time, but not less than annually, the amount necessary, together with funds on hand derived from all sources, to enable the board to provide for the payment of the principal of and premium, if any, and interest on all debt obligations described in § 9-9-105(a) as and when the same shall become due and payable. Amended by 2013 Tenn. Acts, ch. 176,s 5, eff. 7/1/2013. Acts 1937, ch. 165, § 8 (Williams, § 1811.19); impl. am. Acts 1949, ch. 52, § 1; modified; impl. am. Acts 1959, ch. 9, § 8; Acts 1973, ch. 336, § 1; T.C.A. (orig. ed.), § 9-907.
The state funding board shall certify to the commissioner of finance and administration from time to time, but not less than annually, the amount necessary, together with funds on hand derived from all sources, to enable the board to provide for the payment of the principal of and premium, if any, and interest on all debt obligations described in § 9-9-105(a) as and when the same shall become due and payable.
Amended by 2013 Tenn. Acts, ch. 176,s 5, eff. 7/1/2013.
Acts 1937, ch. 165, § 8 (Williams, § 1811.19); impl. am. Acts 1949, ch. 52, § 1; modified; impl. am. Acts 1959, ch. 9, § 8; Acts 1973, ch. 336, § 1; T.C.A. (orig. ed.), § 9-907.
Tenn. Code Ann. § 9-9-204 — TN Code / Title 9 / Chapter 9 / Section 9-9-204
Removal of statutory limitations on interest rates
Status: in_force

Whenever the interest rate or rates determined by resolution of the funding board exceed those contained in the act or acts authorizing the issuance of such bonds, the rate or rates determined by the funding board shall prevail, it being the legislative intent to remove all statutory limitations regarding maximum interest rates and all such limitations are hereby expressly removed; provided, that the maximum rate determined by the funding board in no instance shall exceed the rate as provided by § 47-14-103 . Acts 1957, ch. 186, § 2; T.C.A., § 9-922; Acts 1981, ch. 128, § 3; 2010, ch. 982, § 4.
Whenever the interest rate or rates determined by resolution of the funding board exceed those contained in the act or acts authorizing the issuance of such bonds, the rate or rates determined by the funding board shall prevail, it being the legislative intent to remove all statutory limitations regarding maximum interest rates and all such limitations are hereby expressly removed; provided, that the maximum rate determined by the funding board in no instance shall exceed the rate as provided by § 47-14-103 .
Acts 1957, ch. 186, § 2; T.C.A., § 9-922; Acts 1981, ch. 128, § 3; 2010, ch. 982, § 4.
Tenn. Code Ann. § 9-3-210 — TN Code / Title 9 / Chapter 3 / Section 9-3-210
County contributions to expenses of audit
Status: in_force

(a) For the purpose of contributing to the expenses and compensation of the auditors, each county shall pay into the office of the comptroller of the treasury, on or before June 30 of each year, the same to be paid into the state treasury by the comptroller of the treasury, an amount to be determined on the basis of thirty-six cents (36¢) for each person in the county as shown by the population of the county under the last or any future federal census. (b) Beginning July 1, 2017, and using that year as a base, the foregoing thirty-six cents (36¢) shall be annually increased by three percent (3%), with fractional changes rounded to the nearest one cent (1¢). However, the comptroller of the treasury may, at the comptroller's discretion, reduce the amount required to be paid under this section when the work performed justifies the reduction. Amended by 2016 Tenn. Acts, ch. 1059,s 1, eff. 4/28/2016. Acts 1923, ch. 109, § 6; Shan. Supp., § 948a16; Code 1932, § 1660; Acts 1945, ch. 36, § 1; C. Supp. 1950, § 1660; Acts 1953, ch. 59, § 1; modified; Acts 1968, ch. 585, § 1; 1976, ch. 786, § 1; T.C.A. (orig. ed.), § 9-311; Acts 1982, ch. 694, § 1; T.C.A. (orig. ed.), § 9-3-110; Acts 1985, ch. 118, § 8; 1989, ch. 494, § 1; 2008, ch. 762, § 1.
(a) For the purpose of contributing to the expenses and compensation of the auditors, each county shall pay into the office of the comptroller of the treasury, on or before June 30 of each year, the same to be paid into the state treasury by the comptroller of the treasury, an amount to be determined on the basis of thirty-six cents (36¢) for each person in the county as shown by the population of the county under the last or any future federal census.
(b) Beginning July 1, 2017, and using that year as a base, the foregoing thirty-six cents (36¢) shall be annually increased by three percent (3%), with fractional changes rounded to the nearest one cent (1¢). However, the comptroller of the treasury may, at the comptroller's discretion, reduce the amount required to be paid under this section when the work performed justifies the reduction.
Amended by 2016 Tenn. Acts, ch. 1059,s 1, eff. 4/28/2016.
Acts 1923, ch. 109, § 6; Shan. Supp., § 948a16; Code 1932, § 1660; Acts 1945, ch. 36, § 1; C. Supp. 1950, § 1660; Acts 1953, ch. 59, § 1; modified; Acts 1968, ch. 585, § 1; 1976, ch. 786, § 1; T.C.A. (orig. ed.), § 9-311; Acts 1982, ch. 694, § 1; T.C.A. (orig. ed.), § 9-3-110; Acts 1985, ch. 118, § 8; 1989, ch. 494, § 1; 2008, ch. 762, § 1.
Tenn. Code Ann. § 9-2-109 — TN Code / Title 9 / Chapter 2 / Section 9-2-109
Time of reports - Filing
Status: in_force

(a) The report required by § 9-2-108 shall be made quarterly, on the first Monday in January, April, July and October. (b) The county mayor shall note on each report the day the same was by such county mayor received, and shall cause the report to be kept fastened in book form and file the same with the county register. (c) The reports shall be public records, open to the inspection of the public, free of charge, whenever such inspection may be demanded. Acts 1875, ch. 46, § 2; 1877, ch. 88, § 1; Shan., § 1012; Code 1932, § 1740; impl. am. Acts 1978, ch. 934, §§ 16, 36; T.C.A. (orig. ed.), §9-209; Acts 2003 , ch. 90, § 2.
(a) The report required by § 9-2-108 shall be made quarterly, on the first Monday in January, April, July and October.
(b) The county mayor shall note on each report the day the same was by such county mayor received, and shall cause the report to be kept fastened in book form and file the same with the county register.
(c) The reports shall be public records, open to the inspection of the public, free of charge, whenever such inspection may be demanded.
Acts 1875, ch. 46, § 2; 1877, ch. 88, § 1; Shan., § 1012; Code 1932, § 1740; impl. am. Acts 1978, ch. 934, §§ 16, 36; T.C.A. (orig. ed.), §9-209; Acts 2003 , ch. 90, § 2.
Tenn. Code Ann. § 9-13-202 — TN Code / Title 9 / Chapter 13 / Section 9-13-202
Legislative intent
Status: in_force

The general assembly finds and declares that it is in the best interests of the citizens of this state that local governments be fiscally responsible and utilize sound financial management principles in serving their citizens. The general assembly notes that there are certain conditions and circumstances in which local governments must have emergency technical and financial assistance if they are to better serve their citizenry or, in the case of economic distress due to natural disaster, must have the financial flexibility to stabilize their financial condition. It is the intent of this part to provide procedures whereby local governments may acquire such emergency technical and financial assistance provided and guaranteed by the state or, in the case of natural disaster, may obtain adequate financing, thus enabling such local governments to stabilize their financial condition and to meet their current operational and debt service costs. Acts 1984, ch. 996, § 1; 1995, ch. 63, § 1; 2010, ch. 1117, § 1.
The general assembly finds and declares that it is in the best interests of the citizens of this state that local governments be fiscally responsible and utilize sound financial management principles in serving their citizens. The general assembly notes that there are certain conditions and circumstances in which local governments must have emergency technical and financial assistance if they are to better serve their citizenry or, in the case of economic distress due to natural disaster, must have the financial flexibility to stabilize their financial condition. It is the intent of this part to provide procedures whereby local governments may acquire such emergency technical and financial assistance provided and guaranteed by the state or, in the case of natural disaster, may obtain adequate financing, thus enabling such local governments to stabilize their financial condition and to meet their current operational and debt service costs.
Acts 1984, ch. 996, § 1; 1995, ch. 63, § 1; 2010, ch. 1117, § 1.
Tenn. Code Ann. § 9-4-305 — TN Code / Title 9 / Chapter 4 / Section 9-4-305
Deposit certification
Status: in_force

(a) All deposits made pursuant to § 9-4-301 , except as provided in subsection (b), shall be evidenced by a deposit certification in accordance with procedures established by the commissioner of finance and administration and approved by the state treasurer. (b) Deposits of state funds that result from transfers within the banking system utilizing electronic transfer of funds and initiated by the state treasurer shall be evidenced by those documents and advices as are used within the banking system to execute such funds transfer, and shall be accepted by the commissioner of finance and administration in lieu of deposit certifications. Such documents and advices shall be delivered directly by the state treasurer to the commissioner of finance and administration. The use of the term "banking system" in this subsection (b) shall not be construed to restrict the definition of "state depository" to any meaning other than that set forth in § 9-4-107 . Acts 1985, ch. 118, § 28; 1986, ch. 923, § 4.
(a) All deposits made pursuant to § 9-4-301 , except as provided in subsection (b), shall be evidenced by a deposit certification in accordance with procedures established by the commissioner of finance and administration and approved by the state treasurer.
(b) Deposits of state funds that result from transfers within the banking system utilizing electronic transfer of funds and initiated by the state treasurer shall be evidenced by those documents and advices as are used within the banking system to execute such funds transfer, and shall be accepted by the commissioner of finance and administration in lieu of deposit certifications. Such documents and advices shall be delivered directly by the state treasurer to the commissioner of finance and administration. The use of the term "banking system" in this subsection (b) shall not be construed to restrict the definition of "state depository" to any meaning other than that set forth in § 9-4-107 .
Acts 1985, ch. 118, § 28; 1986, ch. 923, § 4.
Tenn. Code Ann. § 9-4-406 — TN Code / Title 9 / Chapter 4 / Section 9-4-406
Default
Status: in_force

(a) Default shall be deemed to occur whenever any state depository fails to return any state deposit including earned interest when due in accordance with the terms of the deposit contract. (b) In all other situations, as defined in § 9-4-102 , where the safety or security of state deposits is in doubt, the state treasurer shall determine whether default has occurred, and the date on which it occurred, following consultation with the other members of the state funding board, the attorney general and reporter and the commissioner of financial institutions. Once the state treasurer has made such a determination, the other state officials with whom the state treasurer consulted shall be advised. (c) In the event of default by any state depository, the state depository shall be responsible for any loss to the state. (d) Such loss shall be satisfied out of collateral pledged by the state depository to whatever extent possible. (e) Collateral pledged in accordance with this part may be sold by the state treasurer or, at the direction of the state treasurer, by the trustee custodian or any other person, including a federal agency, holding such collateral. In the alternative, the state treasurer may choose to hold such collateral. If the state treasurer holds such collateral, loss shall be reduced by the market value of the collateral and any accrued interest thereon as of the date of default. (f) The attorney general and reporter is authorized to prosecute, in the name of the state, actions for recovery of any loss incurred by the state under this section. (g) Excess proceeds, if any, realized from the sale of collateral will be returned to the defaulting state depository or its successor. Acts 1985, ch. 118, § 36.
(a) Default shall be deemed to occur whenever any state depository fails to return any state deposit including earned interest when due in accordance with the terms of the deposit contract.
(b) In all other situations, as defined in § 9-4-102 , where the safety or security of state deposits is in doubt, the state treasurer shall determine whether default has occurred, and the date on which it occurred, following consultation with the other members of the state funding board, the attorney general and reporter and the commissioner of financial institutions. Once the state treasurer has made such a determination, the other state officials with whom the state treasurer consulted shall be advised.
(c) In the event of default by any state depository, the state depository shall be responsible for any loss to the state.
(d) Such loss shall be satisfied out of collateral pledged by the state depository to whatever extent possible.
(e) Collateral pledged in accordance with this part may be sold by the state treasurer or, at the direction of the state treasurer, by the trustee custodian or any other person, including a federal agency, holding such collateral. In the alternative, the state treasurer may choose to hold such collateral. If the state treasurer holds such collateral, loss shall be reduced by the market value of the collateral and any accrued interest thereon as of the date of default.
(f) The attorney general and reporter is authorized to prosecute, in the name of the state, actions for recovery of any loss incurred by the state under this section.
(g) Excess proceeds, if any, realized from the sale of collateral will be returned to the defaulting state depository or its successor.
Acts 1985, ch. 118, § 36.
Tenn. Code Ann. § 9-4-5115 — TN Code / Title 9 / Chapter 4 / Section 9-4-5115
State funds received by local government unit not to be expended for costs of lawsuit against state in which local government unit is plaintiff
Status: in_force

(a) No state funds received by a local government unit shall be expended to pay attorney's fees, court costs, or other expenses attributable to a lawsuit filed against the state, a state agency, or a state official in which the local government unit is named as a plaintiff. If the state, agency, or official prevails in the lawsuit, then the department of finance and administration shall deduct from the local government unit's allocation of state-shared taxes, in the case of a city or county, or allocation of funds based on the Tennessee investment in student achievement formula (TISA), in the case of an LEA, such sum or part of such sum to recover attorney's fees, court costs, and other expenses attributable to defending the state in the lawsuit. (b) As used in this section, "local government unit" means a county, municipality, or local education agency (LEA) as defined in § 49-1-103 . Amended by 2022 Tenn. Acts, ch. 966, s 96, eff. 7/1/2023. Added by 2015 Tenn. Acts, ch. 425, s 4, eff. 5/15/2015.
(a) No state funds received by a local government unit shall be expended to pay attorney's fees, court costs, or other expenses attributable to a lawsuit filed against the state, a state agency, or a state official in which the local government unit is named as a plaintiff. If the state, agency, or official prevails in the lawsuit, then the department of finance and administration shall deduct from the local government unit's allocation of state-shared taxes, in the case of a city or county, or allocation of funds based on the Tennessee investment in student achievement formula (TISA), in the case of an LEA, such sum or part of such sum to recover attorney's fees, court costs, and other expenses attributable to defending the state in the lawsuit.
(b) As used in this section, "local government unit" means a county, municipality, or local education agency (LEA) as defined in § 49-1-103 .
Amended by 2022 Tenn. Acts, ch. 966, s 96, eff. 7/1/2023.
Added by 2015 Tenn. Acts, ch. 425, s 4, eff. 5/15/2015.
Tenn. Code Ann. § 9-4-523 — TN Code / Title 9 / Chapter 4 / Section 9-4-523
State treasurer empowered to act as successor pledgee
Status: in_force

(a) At such time as a public depository joins the collateral pool, the state treasurer is empowered to assume responsibility as successor pledgee of any and all collateral pledged on or after July 1, 1992, to individual public depositors by that public depository. The state treasurer is further empowered to assume responsibility as successor pledgee of any and all collateral pledged prior to July 1, 1992, to individual public depositors by such public depository, upon the written consent of the public depositors. (b) Upon assuming responsibility as successor pledgee as provided in subsection (a), the state treasurer is empowered to sign such documents on behalf of individual public depositors as may be required by a trustee custodian. Acts 1990, ch. 1043, § 1; 1992, ch. 592, § 23.
(a) At such time as a public depository joins the collateral pool, the state treasurer is empowered to assume responsibility as successor pledgee of any and all collateral pledged on or after July 1, 1992, to individual public depositors by that public depository. The state treasurer is further empowered to assume responsibility as successor pledgee of any and all collateral pledged prior to July 1, 1992, to individual public depositors by such public depository, upon the written consent of the public depositors.
(b) Upon assuming responsibility as successor pledgee as provided in subsection (a), the state treasurer is empowered to sign such documents on behalf of individual public depositors as may be required by a trustee custodian.
Acts 1990, ch. 1043, § 1; 1992, ch. 592, § 23.
Tenn. Code Ann. § 9-4-5118 — TN Code / Title 9 / Chapter 4 / Section 9-4-5118
State funds not to be expended to pay municipality's public indebtedness
Status: in_force

(a) No state funds shall be expended to pay the public indebtedness of any municipality; provided, however, that this subsection (a) does not preclude any municipality from utilizing its allocation of state-shared taxes for the purpose of paying its public indebtedness. (b) As used in this section, unless the context otherwise requires: (1) "Public indebtedness" means the bonds, notes or other evidence of indebtedness lawfully issued or assumed; (2) "State departmental revenues" means: (A) Earnings or charges for goods or services; or (B) Donations, contributions or participation by political subdivisions, foundations, corporations, firms or persons; (3) "State funds" means state departmental revenues or state revenues; (4) "State revenues" means the proceeds collected from taxes, licenses, fees, fines, forfeitures or other imposts laid specifically by law for state government; and (5) "State-shared taxes" means taxes imposed and collected by the state pursuant to law and allocated by law among units of local government. (c) This section shall not be construed as limiting the authority provided in chapter 13, part 2 of this title or chapter 21, part 7 of this title. Added by 2014 Tenn. Acts, ch. 853,s 1, eff. 4/30/2014.
(a) No state funds shall be expended to pay the public indebtedness of any municipality; provided, however, that this subsection (a) does not preclude any municipality from utilizing its allocation of state-shared taxes for the purpose of paying its public indebtedness.
(b) As used in this section, unless the context otherwise requires: (1) "Public indebtedness" means the bonds, notes or other evidence of indebtedness lawfully issued or assumed; (2) "State departmental revenues" means: (A) Earnings or charges for goods or services; or (B) Donations, contributions or participation by political subdivisions, foundations, corporations, firms or persons; (3) "State funds" means state departmental revenues or state revenues; (4) "State revenues" means the proceeds collected from taxes, licenses, fees, fines, forfeitures or other imposts laid specifically by law for state government; and (5) "State-shared taxes" means taxes imposed and collected by the state pursuant to law and allocated by law among units of local government.
(1) "Public indebtedness" means the bonds, notes or other evidence of indebtedness lawfully issued or assumed;
(2) "State departmental revenues" means: (A) Earnings or charges for goods or services; or (B) Donations, contributions or participation by political subdivisions, foundations, corporations, firms or persons;
(A) Earnings or charges for goods or services; or
(B) Donations, contributions or participation by political subdivisions, foundations, corporations, firms or persons;
(3) "State funds" means state departmental revenues or state revenues;
(4) "State revenues" means the proceeds collected from taxes, licenses, fees, fines, forfeitures or other imposts laid specifically by law for state government; and
(5) "State-shared taxes" means taxes imposed and collected by the state pursuant to law and allocated by law among units of local government.
(c) This section shall not be construed as limiting the authority provided in chapter 13, part 2 of this title or chapter 21, part 7 of this title.
Added by 2014 Tenn. Acts, ch. 853,s 1, eff. 4/30/2014.
Tenn. Code Ann. § 9-3-212 — TN Code / Title 9 / Chapter 3 / Section 9-3-212
Duty to order and pay for audits - Audit standards - Rules and regulations
Status: in_force

(a) It is the duty of each political subdivision, special taxing district, board, commission, educational cooperative, intergovernmental cooperative or other governmental agency, including, but not limited to, municipal corporations, utility districts, school boards, and housing authorities created under the Housing Authorities Law, compiled in title 13, chapter 20, part 1, with respect to all funds under its control, to order and pay for such audit and for any other audit which it is required to perform under state law, and to contract with certified public accountants, public accountants, or the department of audit to make such audit. (b) The comptroller of the treasury, when the comptroller deems it necessary, may require any audit required of any such agency, or any investigative or review work in addition to such audit which, in the exercise of the comptroller's discretion, the comptroller believes necessary to ascertain or correct errors, irregularities, or defaults in the management and disbursement of funds controlled by such agency, to be conducted by the department of audit; provided, that the comptroller may also charge such agency for additional investigative or review work or additional accounting services which the comptroller may deem necessary. (c) Nothing herein shall amend or modify any requirement of a general or private act for an audit by a certified public accountant or public accountant. This section shall apply to political subdivisions, special taxing districts, boards, commissions, educational cooperatives, intergovernmental cooperatives, and any other governmental agency, including, but not limited to, municipal corporations, utility districts, school boards, and housing authorities created under the Housing Authorities Law, compiled in title 13, chapter 20, part 1, which are otherwise subject to financial audit by the state or federal government. In addition to the other requirements of this section, such agency shall furnish a copy of such audit report to the comptroller of the treasury. (d) The comptroller of the treasury, through the department of audit, shall be responsible for determining that such audits are prepared in accordance with generally accepted governmental auditing standards and that such audits meet the minimum standards prescribed by the comptroller. The comptroller of the treasury shall prepare a uniform audit manual as is required to assure that the books and records are kept in accordance with generally accepted accounting principles and that the minimum audit standards prescribed by the comptroller are met. Amended by 2018 Tenn. Acts, ch. 495,s 6, eff. 2/22/2018. Acts 1961, ch. 233, § 2; 1977, ch. 103, § 7; T.C.A., §§ 9-314, 9-3-112; Acts 1985, ch. 118, § 8; 1992, ch. 764, § 1.
(a) It is the duty of each political subdivision, special taxing district, board, commission, educational cooperative, intergovernmental cooperative or other governmental agency, including, but not limited to, municipal corporations, utility districts, school boards, and housing authorities created under the Housing Authorities Law, compiled in title 13, chapter 20, part 1, with respect to all funds under its control, to order and pay for such audit and for any other audit which it is required to perform under state law, and to contract with certified public accountants, public accountants, or the department of audit to make such audit.
(b) The comptroller of the treasury, when the comptroller deems it necessary, may require any audit required of any such agency, or any investigative or review work in addition to such audit which, in the exercise of the comptroller's discretion, the comptroller believes necessary to ascertain or correct errors, irregularities, or defaults in the management and disbursement of funds controlled by such agency, to be conducted by the department of audit; provided, that the comptroller may also charge such agency for additional investigative or review work or additional accounting services which the comptroller may deem necessary.
(c) Nothing herein shall amend or modify any requirement of a general or private act for an audit by a certified public accountant or public accountant. This section shall apply to political subdivisions, special taxing districts, boards, commissions, educational cooperatives, intergovernmental cooperatives, and any other governmental agency, including, but not limited to, municipal corporations, utility districts, school boards, and housing authorities created under the Housing Authorities Law, compiled in title 13, chapter 20, part 1, which are otherwise subject to financial audit by the state or federal government. In addition to the other requirements of this section, such agency shall furnish a copy of such audit report to the comptroller of the treasury.
(d) The comptroller of the treasury, through the department of audit, shall be responsible for determining that such audits are prepared in accordance with generally accepted governmental auditing standards and that such audits meet the minimum standards prescribed by the comptroller. The comptroller of the treasury shall prepare a uniform audit manual as is required to assure that the books and records are kept in accordance with generally accepted accounting principles and that the minimum audit standards prescribed by the comptroller are met.
Amended by 2018 Tenn. Acts, ch. 495,s 6, eff. 2/22/2018.
Acts 1961, ch. 233, § 2; 1977, ch. 103, § 7; T.C.A., §§ 9-314, 9-3-112; Acts 1985, ch. 118, § 8; 1992, ch. 764, § 1.
Tenn. Code Ann. § 9-21-304 — TN Code / Title 9 / Chapter 21 / Section 9-21-304
Initial revenue bond resolution
Status: in_force

(a) Prior to the issuance of any revenue bonds pursuant to this part and part 1 of this chapter, the governing body of the local government shall adopt a resolution (herein referred to as the "initial resolution") determining to issue the revenue bonds. (b) The initial resolution shall state in substance: (1) The amount or maximum amount of revenue bonds to be issued; (2) The public works project or projects for which the revenue bonds are to be issued, but if the bonds are to be issued for more than one (1) project, the initial resolution need not state the amount which will be used for each project; (3) The rate or maximum rate of interest which the revenue bonds are to bear; and (4) A brief concise statement that the revenue bonds will be payable exclusively from revenues of the public works project or projects. (c) The initial resolution shall be published in full once in a newspaper of general circulation in the local government. Acts 1986, ch. 770, § 3-4; 1988, ch. 750, § 43.
(a) Prior to the issuance of any revenue bonds pursuant to this part and part 1 of this chapter, the governing body of the local government shall adopt a resolution (herein referred to as the "initial resolution") determining to issue the revenue bonds.
(b) The initial resolution shall state in substance: (1) The amount or maximum amount of revenue bonds to be issued; (2) The public works project or projects for which the revenue bonds are to be issued, but if the bonds are to be issued for more than one (1) project, the initial resolution need not state the amount which will be used for each project; (3) The rate or maximum rate of interest which the revenue bonds are to bear; and (4) A brief concise statement that the revenue bonds will be payable exclusively from revenues of the public works project or projects.
(1) The amount or maximum amount of revenue bonds to be issued;
(2) The public works project or projects for which the revenue bonds are to be issued, but if the bonds are to be issued for more than one (1) project, the initial resolution need not state the amount which will be used for each project;
(3) The rate or maximum rate of interest which the revenue bonds are to bear; and
(4) A brief concise statement that the revenue bonds will be payable exclusively from revenues of the public works project or projects.
(c) The initial resolution shall be published in full once in a newspaper of general circulation in the local government.
Acts 1986, ch. 770, § 3-4; 1988, ch. 750, § 43.
Tenn. Code Ann. § 9-21-704 — TN Code / Title 9 / Chapter 21 / Section 9-21-704
Security for grant anticipation notes
Status: in_force

The principal of grant anticipation notes shall not be direct general obligations of the local government, and the local government shall have no authority to levy ad valorem taxes for the payment of the principal of such notes; provided, that interest on grant anticipation notes may be a general obligation of a local government, and the local government shall have the authority to levy ad valorem taxes for the payment of interest on such notes. When the grant anticipation notes are issued and sold, they shall be secured solely by a pledge of moneys, which pledge shall not be less than the principal amount of such notes, to be received pursuant to a contract or agreement between a state or federal agency and the local government. Nothing herein shall preclude a local government from issuing capital outlay notes or bond anticipation notes in conjunction with grant anticipation notes issued under this section; provided, that the proceeds from the sale of any such capital outlay notes or bond anticipation notes shall not be applied to the payment of such grant anticipation notes. Acts 1986, ch. 770, § 7-4.
The principal of grant anticipation notes shall not be direct general obligations of the local government, and the local government shall have no authority to levy ad valorem taxes for the payment of the principal of such notes; provided, that interest on grant anticipation notes may be a general obligation of a local government, and the local government shall have the authority to levy ad valorem taxes for the payment of interest on such notes. When the grant anticipation notes are issued and sold, they shall be secured solely by a pledge of moneys, which pledge shall not be less than the principal amount of such notes, to be received pursuant to a contract or agreement between a state or federal agency and the local government. Nothing herein shall preclude a local government from issuing capital outlay notes or bond anticipation notes in conjunction with grant anticipation notes issued under this section; provided, that the proceeds from the sale of any such capital outlay notes or bond anticipation notes shall not be applied to the payment of such grant anticipation notes.
Acts 1986, ch. 770, § 7-4.
Tenn. Code Ann. § 9-4-1203 — TN Code / Title 9 / Chapter 4 / Section 9-4-1203
Chair of trustees
Status: in_force

The comptroller of the treasury shall serve as the chair of the trustees and shall preside over all meetings and proceedings of the trustees. Added by 2017 Tenn. Acts, ch. 374,s 8, eff. 5/11/2017.
The comptroller of the treasury shall serve as the chair of the trustees and shall preside over all meetings and proceedings of the trustees.
Added by 2017 Tenn. Acts, ch. 374,s 8, eff. 5/11/2017.
Tenn. Code Ann. § 9-1-103 — TN Code / Title 9 / Chapter 1 / Section 9-1-103
Protection of appropriations of state and departmental revenues and state funds and institutional and program revenues by the state's sovereign immunity
Status: in_force

(a) Except to the extent that sovereign immunity is expressly waived by the general assembly, all appropriations of state revenues and departmental revenues previously and hereafter made to the state, its departments, agencies, boards, educational institutions, instrumentalities, and incorporated entities performing the state's governmental functions shall be state funds and shall be protected by the state's sovereign immunity from every court's judgment, decree, attachment, or other legal process; provided, however, that any law authorizing an agency, board, or entity to sue or be sued shall not constitute a waiver of sovereign immunity. (b) Except to the extent that sovereign immunity is expressly waived by the general assembly, all appropriations of state funds and institutional and program revenues previously and hereafter made to institutions and programs of higher education shall be state funds and shall be protected by the state's sovereign immunity from any court's judgment, decree, attachment, or other legal process; provided, however, that any law authorizing an institution or program of higher education to sue or be sued shall not constitute a waiver of sovereign immunity. Amended by 2014 Tenn. Acts, ch. 917,Secs.s1, s2 eff. 5/13/2014.
(a) Except to the extent that sovereign immunity is expressly waived by the general assembly, all appropriations of state revenues and departmental revenues previously and hereafter made to the state, its departments, agencies, boards, educational institutions, instrumentalities, and incorporated entities performing the state's governmental functions shall be state funds and shall be protected by the state's sovereign immunity from every court's judgment, decree, attachment, or other legal process; provided, however, that any law authorizing an agency, board, or entity to sue or be sued shall not constitute a waiver of sovereign immunity.
(b) Except to the extent that sovereign immunity is expressly waived by the general assembly, all appropriations of state funds and institutional and program revenues previously and hereafter made to institutions and programs of higher education shall be state funds and shall be protected by the state's sovereign immunity from any court's judgment, decree, attachment, or other legal process; provided, however, that any law authorizing an institution or program of higher education to sue or be sued shall not constitute a waiver of sovereign immunity.
Amended by 2014 Tenn. Acts, ch. 917,Secs.s1, s2 eff. 5/13/2014.
Tenn. Code Ann. § 9-22-107 — TN Code / Title 9 / Chapter 22 / Section 9-22-107
Impairment of contract
Status: in_force

Nothing in this chapter shall be deemed in any way to alter the terms of any agreements made with the holders of any public obligations of an issuer or to authorize an issuer to alter the terms of any such public obligations, or to impair, or to authorize any issuer to impair, the rights and remedies of any creditors of any issuer. Acts 2001, ch. 290, § 1.
Nothing in this chapter shall be deemed in any way to alter the terms of any agreements made with the holders of any public obligations of an issuer or to authorize an issuer to alter the terms of any such public obligations, or to impair, or to authorize any issuer to impair, the rights and remedies of any creditors of any issuer.
Acts 2001, ch. 290, § 1.
Tenn. Code Ann. § 9-21-1017 — TN Code / Title 9 / Chapter 21 / Section 9-21-1017
Remedies of revenue refunding bondholders
Status: in_force

Any holder of revenue refunding bonds issued pursuant to this part and part 1 of this chapter shall have all rights provided to the holders of revenue bonds in §§ 9-21-310 , 9-21-311 and 9-21-316 . If a receiver is appointed for an enterprise pursuant to those provisions, then the powers and duties of the receiver shall be governed by §§ 9-21-312 - 9-21-315. Acts 1986, ch. 770, § 10-17.
Any holder of revenue refunding bonds issued pursuant to this part and part 1 of this chapter shall have all rights provided to the holders of revenue bonds in §§ 9-21-310 , 9-21-311 and 9-21-316 . If a receiver is appointed for an enterprise pursuant to those provisions, then the powers and duties of the receiver shall be governed by §§ 9-21-312 - 9-21-315.
Acts 1986, ch. 770, § 10-17.
Tenn. Code Ann. § 9-5-103 — TN Code / Title 9 / Chapter 5 / Section 9-5-103
Report on state lending programs and state credit support programs
Status: in_force

(a) (1) At the end of each fiscal year, the comptroller of the treasury shall report on all state lending programs and state credit support programs in a single document, including a cite to each individual lending program's statutory authority. (2) The report must include: (A) The total dollar amount of all lending in state lending programs and the total amount of all debt supported by state credit support programs, and the totals for each individual program; and (B) Reasonable estimates of the cost of likely defaults on all state lending programs and state credit support programs, using generally accepted accounting principles for credit losses, and the estimates for each individual program. (b) (1) The comptroller of the treasury shall provide the report required under subsection (a) to: (A) Each member of the general assembly; and (B) The commissioner of finance and administration. (2) The report may be provided electronically. Added by 2022 Tenn. Acts, ch. 669, s 1, eff. 7/1/2022.
(a) (1) At the end of each fiscal year, the comptroller of the treasury shall report on all state lending programs and state credit support programs in a single document, including a cite to each individual lending program's statutory authority. (2) The report must include: (A) The total dollar amount of all lending in state lending programs and the total amount of all debt supported by state credit support programs, and the totals for each individual program; and (B) Reasonable estimates of the cost of likely defaults on all state lending programs and state credit support programs, using generally accepted accounting principles for credit losses, and the estimates for each individual program.
(1) At the end of each fiscal year, the comptroller of the treasury shall report on all state lending programs and state credit support programs in a single document, including a cite to each individual lending program's statutory authority.
(2) The report must include: (A) The total dollar amount of all lending in state lending programs and the total amount of all debt supported by state credit support programs, and the totals for each individual program; and (B) Reasonable estimates of the cost of likely defaults on all state lending programs and state credit support programs, using generally accepted accounting principles for credit losses, and the estimates for each individual program.
(A) The total dollar amount of all lending in state lending programs and the total amount of all debt supported by state credit support programs, and the totals for each individual program; and
(B) Reasonable estimates of the cost of likely defaults on all state lending programs and state credit support programs, using generally accepted accounting principles for credit losses, and the estimates for each individual program.
(b) (1) The comptroller of the treasury shall provide the report required under subsection (a) to: (A) Each member of the general assembly; and (B) The commissioner of finance and administration. (2) The report may be provided electronically.
(1) The comptroller of the treasury shall provide the report required under subsection (a) to: (A) Each member of the general assembly; and (B) The commissioner of finance and administration.
(A) Each member of the general assembly; and
(B) The commissioner of finance and administration.
(2) The report may be provided electronically.
Added by 2022 Tenn. Acts, ch. 669, s 1, eff. 7/1/2022.
Tenn. Code Ann. § 9-4-104 — TN Code / Title 9 / Chapter 4 / Section 9-4-104
Loss
Status: in_force

"Loss" includes, but is not limited to: (1) The principal amount of the state deposit; (2) All accrued interest through the date of default; (3) Additional interest at the rate the state deposit was earning on the total of subdivisions (1) and (2) through the day of payment to the state by a liquidator or other third party or through the date of sale by the state treasurer or the state treasurer's agent; and (4) Attorney's fees incurred in recovering state deposits. Acts 1985, ch. 118, § 16.
"Loss" includes, but is not limited to:
(1) The principal amount of the state deposit;
(2) All accrued interest through the date of default;
(3) Additional interest at the rate the state deposit was earning on the total of subdivisions (1) and (2) through the day of payment to the state by a liquidator or other third party or through the date of sale by the state treasurer or the state treasurer's agent; and
(4) Attorney's fees incurred in recovering state deposits.
Acts 1985, ch. 118, § 16.
Tenn. Code Ann. § 9-4-5301 — TN Code / Title 9 / Chapter 4 / Section 9-4-5301
Statutes providing base apportionment for determining additional state revenues
Status: in_force

Funds apportioned as state-shared taxes to county and municipal governments for any fiscal year under authority of the following statutes shall provide the base apportionment for the purpose of determining the availability of additional state revenues to meet the requirement of the Constitution of Tennessee, Article II, § 24 that the state share in the cost of any law of general application imposing increased expenditure requirements on cities and counties: (1) Retailers' sales tax, as authorized by title 67, chapter 6, and apportioned by § 67-6-103 ; (2) Gross receipts taxes, such portions as are authorized as payments to the state from the Tennessee Valley authority under § 13 of the act of congress creating the authority, as amended, and apportioned under §§ 67-9-101(a)(2) and 67-9-102(a) ; (3) Income tax on dividends and interest, as authorized by title 67, chapter 2, and apportioned by § 67-2-119 ; (4) Special privilege tax on beer, as authorized by title 57, chapter 5, and apportioned by § 57-5-205 ; (5) Gross receipts tax on alcoholic beverages consumed on premises, as authorized by title 57, chapter 4, and apportioned by § 57-4-306 ; and (6) Tax on sale or distribution of wine and spirits, as authorized by title 57, chapter 3, and apportioned by § 57-3-306 . Amended by 2014 Tenn. Acts, ch. 901,s 3, eff. 5/13/2014. Acts 1979, ch. 436, § 1; T.C.A., §§ 9-631, 9-6-301.
Funds apportioned as state-shared taxes to county and municipal governments for any fiscal year under authority of the following statutes shall provide the base apportionment for the purpose of determining the availability of additional state revenues to meet the requirement of the Constitution of Tennessee, Article II, § 24 that the state share in the cost of any law of general application imposing increased expenditure requirements on cities and counties:
(1) Retailers' sales tax, as authorized by title 67, chapter 6, and apportioned by § 67-6-103 ;
(2) Gross receipts taxes, such portions as are authorized as payments to the state from the Tennessee Valley authority under § 13 of the act of congress creating the authority, as amended, and apportioned under §§ 67-9-101(a)(2) and 67-9-102(a) ;
(3) Income tax on dividends and interest, as authorized by title 67, chapter 2, and apportioned by § 67-2-119 ;
(4) Special privilege tax on beer, as authorized by title 57, chapter 5, and apportioned by § 57-5-205 ;
(5) Gross receipts tax on alcoholic beverages consumed on premises, as authorized by title 57, chapter 4, and apportioned by § 57-4-306 ; and
(6) Tax on sale or distribution of wine and spirits, as authorized by title 57, chapter 3, and apportioned by § 57-3-306 .
Amended by 2014 Tenn. Acts, ch. 901,s 3, eff. 5/13/2014.
Acts 1979, ch. 436, § 1; T.C.A., §§ 9-631, 9-6-301.
Tenn. Code Ann. § 9-4-5306 — TN Code / Title 9 / Chapter 4 / Section 9-4-5306
Locality does not meet municipality requirements
Status: in_force

(a) Notwithstanding any law to the contrary, IF, after July 1, 1998, a locality is deemed by the state to be a municipality for purposes of distributing grants or state-shared taxes; AND IF, thereafter the locality, acting in good faith and under color of law and for municipal purposes, receives and expends or obligates grants or state-shared taxes; AND IF, thereafter it is judicially determined that the locality was not incorporated in accordance with the requirements of law and, therefore, is not a municipality; THEN Neither the locality nor any person who acted on behalf of the locality is required to return or repay such grants or state-shared taxes; however, subject to § 67-5-104(c) , any portion of such grants or state-shared taxes, that remains unexpended and unobligated, shall become assets of the county. (b) As used in subsection (a), "the locality, acting in good faith and under color of law and for municipal purposes, ... expends" includes, but is not limited to, reimbursement paid from grants or state-shared taxes for documented, reasonable expenses of municipal incorporation that were paid out-of-pocket by one (1) or more residents acting on behalf of the locality and its incorporation. Acts 2000, ch. 898, § 1.
(a) Notwithstanding any law to the contrary, IF, after July 1, 1998, a locality is deemed by the state to be a municipality for purposes of distributing grants or state-shared taxes; AND IF, thereafter the locality, acting in good faith and under color of law and for municipal purposes, receives and expends or obligates grants or state-shared taxes; AND IF, thereafter it is judicially determined that the locality was not incorporated in accordance with the requirements of law and, therefore, is not a municipality; THEN Neither the locality nor any person who acted on behalf of the locality is required to return or repay such grants or state-shared taxes; however, subject to § 67-5-104(c) , any portion of such grants or state-shared taxes, that remains unexpended and unobligated, shall become assets of the county.
IF, after July 1, 1998, a locality is deemed by the state to be a municipality for purposes of distributing grants or state-shared taxes; AND
IF, thereafter the locality, acting in good faith and under color of law and for municipal purposes, receives and expends or obligates grants or state-shared taxes; AND
IF, thereafter it is judicially determined that the locality was not incorporated in accordance with the requirements of law and, therefore, is not a municipality; THEN
Neither the locality nor any person who acted on behalf of the locality is required to return or repay such grants or state-shared taxes; however, subject to § 67-5-104(c) , any portion of such grants or state-shared taxes, that remains unexpended and unobligated, shall become assets of the county.
(b) As used in subsection (a), "the locality, acting in good faith and under color of law and for municipal purposes, ... expends" includes, but is not limited to, reimbursement paid from grants or state-shared taxes for documented, reasonable expenses of municipal incorporation that were paid out-of-pocket by one (1) or more residents acting on behalf of the locality and its incorporation.
Acts 2000, ch. 898, § 1.
Tenn. Code Ann. § 9-4-5107 — TN Code / Title 9 / Chapter 4 / Section 9-4-5107
Direct and continuing appropriations
Status: in_force

(a) By authorizing the issuance of debt that is not a liability of the state and the payment of debt service thereon by the state school bond authority in title 49, by the local development authority in title 4, by the housing development agency in title 13, and by the state veterans' homes board in title 58, the general assembly intends that such authorizations constitute: (1) With respect to each debt issuer listed above, a direct and continuing appropriation to that debt issuer of its earnings, revenues or other assets for expenditures authorized by or pursuant to the respective enabling legislation and the authority to expend those funds in accordance with or pursuant to such legislation; and (2) With respect to any public higher education entity whose contracts or agreements with the state school bond authority support the payment of such debt issuer's debt service, a direct and continuing appropriation to that entity of its earnings, revenues or other assets pledged or governed by such contracts or agreements and the authority to expend those funds in accordance with or pursuant to the respective contracts or agreements. (b) Such funds are hereby appropriated on a direct and continuing basis to each debt issuer listed in subsection (a) and to each public higher education entity described in subsection (a) for such purposes. (c) For purposes of this section, the term "revenues" includes amounts allowable, without regard to any offset, to any such debt issuers from the federal government with respect to qualified bonds. Acts 2001, ch. 264, § 2; 2010, ch. 1117, § 6.
(a) By authorizing the issuance of debt that is not a liability of the state and the payment of debt service thereon by the state school bond authority in title 49, by the local development authority in title 4, by the housing development agency in title 13, and by the state veterans' homes board in title 58, the general assembly intends that such authorizations constitute: (1) With respect to each debt issuer listed above, a direct and continuing appropriation to that debt issuer of its earnings, revenues or other assets for expenditures authorized by or pursuant to the respective enabling legislation and the authority to expend those funds in accordance with or pursuant to such legislation; and (2) With respect to any public higher education entity whose contracts or agreements with the state school bond authority support the payment of such debt issuer's debt service, a direct and continuing appropriation to that entity of its earnings, revenues or other assets pledged or governed by such contracts or agreements and the authority to expend those funds in accordance with or pursuant to the respective contracts or agreements.
(1) With respect to each debt issuer listed above, a direct and continuing appropriation to that debt issuer of its earnings, revenues or other assets for expenditures authorized by or pursuant to the respective enabling legislation and the authority to expend those funds in accordance with or pursuant to such legislation; and
(2) With respect to any public higher education entity whose contracts or agreements with the state school bond authority support the payment of such debt issuer's debt service, a direct and continuing appropriation to that entity of its earnings, revenues or other assets pledged or governed by such contracts or agreements and the authority to expend those funds in accordance with or pursuant to the respective contracts or agreements.
(b) Such funds are hereby appropriated on a direct and continuing basis to each debt issuer listed in subsection (a) and to each public higher education entity described in subsection (a) for such purposes.
(c) For purposes of this section, the term "revenues" includes amounts allowable, without regard to any offset, to any such debt issuers from the federal government with respect to qualified bonds.
Acts 2001, ch. 264, § 2; 2010, ch. 1117, § 6.
Tenn. Code Ann. § 9-21-210 — TN Code / Title 9 / Chapter 21 / Section 9-21-210
Eligibility to vote
Status: in_force

(a) For general obligation bonds issued by a local government which are payable from taxes levied upon all taxable property in the local government, any registered voter in the local government may vote in the election. (b) For general obligation bonds issued by a local government which are payable from taxes levied on only a portion of the local government, any registered voter in that portion of the local government may vote in the election. (c) Upon receipt of the statement of the votes in the election from the county election commission, the governing body at or before its next regular meeting shall again canvass the returns and determine and declare the results of the election. Acts 1986, ch. 770, § 2-10.
(a) For general obligation bonds issued by a local government which are payable from taxes levied upon all taxable property in the local government, any registered voter in the local government may vote in the election.
(b) For general obligation bonds issued by a local government which are payable from taxes levied on only a portion of the local government, any registered voter in that portion of the local government may vote in the election.
(c) Upon receipt of the statement of the votes in the election from the county election commission, the governing body at or before its next regular meeting shall again canvass the returns and determine and declare the results of the election.
Acts 1986, ch. 770, § 2-10.
Tenn. Code Ann. § 9-9-107 — TN Code / Title 9 / Chapter 9 / Section 9-9-107
Payments by state funding board
Status: in_force

The state funding board shall provide for the payment of the principal of and premium, if any, and interest on all bonds issued under this chapter, all notes issued in anticipation of such bonds and all tax revenue anticipation notes issued under this chapter, amounts due on contracts or agreements described in § 9-9-202(g) and (h) or other contracts or agreements relating to such debt obligations, and necessary related expenses incurred under this chapter as the same shall become due, out of the fees, taxes and other revenues and funds available for such purposes. Amended by 2013 Tenn. Acts, ch. 176,s 5, eff. 7/1/2013. Acts 1937, ch. 165, §§ 9, 10 (Williams, §§ 1811.20, 1811.21); impl. am. Acts 1959, ch. 9, § 8; T.C.A. (orig. ed.), § 9-908; Acts 2000, ch. 598, § 2.
The state funding board shall provide for the payment of the principal of and premium, if any, and interest on all bonds issued under this chapter, all notes issued in anticipation of such bonds and all tax revenue anticipation notes issued under this chapter, amounts due on contracts or agreements described in § 9-9-202(g) and (h) or other contracts or agreements relating to such debt obligations, and necessary related expenses incurred under this chapter as the same shall become due, out of the fees, taxes and other revenues and funds available for such purposes.
Amended by 2013 Tenn. Acts, ch. 176,s 5, eff. 7/1/2013.
Acts 1937, ch. 165, §§ 9, 10 (Williams, §§ 1811.20, 1811.21); impl. am. Acts 1959, ch. 9, § 8; T.C.A. (orig. ed.), § 9-908; Acts 2000, ch. 598, § 2.
Tenn. Code Ann. § 9-9-206 — TN Code / Title 9 / Chapter 9 / Section 9-9-206
Application of law to other statutes
Status: in_force

(a) Parts 1 and 2 of this chapter shall be applicable to existing statutes authorizing the issuance of bonds, as well as acts of this and subsequent general assemblies. (b) Notwithstanding any other general law, parts 1 and 2 of this chapter shall prevail. However, bonds heretofore or hereafter authorized by the general assembly to be issued by the state funding board may be sold pursuant to the Baccalaureate Education Savings for Tennessee Act, compiled in title 49, chapter 7, part 9. Acts 1957, ch. 186, §§ 4, 5; 1977, ch. 3, § 10; T.C.A., § 9-924; Acts 1989, ch. 190, § 9.
(a) Parts 1 and 2 of this chapter shall be applicable to existing statutes authorizing the issuance of bonds, as well as acts of this and subsequent general assemblies.
(b) Notwithstanding any other general law, parts 1 and 2 of this chapter shall prevail. However, bonds heretofore or hereafter authorized by the general assembly to be issued by the state funding board may be sold pursuant to the Baccalaureate Education Savings for Tennessee Act, compiled in title 49, chapter 7, part 9.
Acts 1957, ch. 186, §§ 4, 5; 1977, ch. 3, § 10; T.C.A., § 9-924; Acts 1989, ch. 190, § 9.
Tenn. Code Ann. § 9-4-307 — TN Code / Title 9 / Chapter 4 / Section 9-4-307
State depositories
Status: in_force

The state treasurer is authorized to open accounts in state depositories and establish procedures to be followed by each depository for the handling of state deposits. Acts 1985, ch. 118, § 30.
The state treasurer is authorized to open accounts in state depositories and establish procedures to be followed by each depository for the handling of state deposits.
Acts 1985, ch. 118, § 30.
Tenn. Code Ann. § 9-4-5119 — TN Code / Title 9 / Chapter 4 / Section 9-4-5119
Prohibited use of state funds by University of Tennessee - Use of funds in budget of office of diversity and inclusion
Status: in_force

(a) State funds shall not be expended by the University of Tennessee to promote the use of gender neutral pronouns, to promote or inhibit the celebration of religious holidays, or to fund or support sex week. (b) All funds in the budget of the office for diversity and inclusion at the University of Tennessee, Knoxville, for fiscal year 2016-2017, shall be reallocated in the university's budget and used by the university solely for scholarships to be awarded through a minority engineering scholarship program. Any funds from the budget of the office for diversity and inclusion that are not used for minority engineering scholarships in fiscal year 2016-2017 shall remain in the scholarship program for use in future fiscal years. Added by 2016 Tenn. Acts, ch. 1066,s 1, eff. 5/20/2016.
(a) State funds shall not be expended by the University of Tennessee to promote the use of gender neutral pronouns, to promote or inhibit the celebration of religious holidays, or to fund or support sex week.
(b) All funds in the budget of the office for diversity and inclusion at the University of Tennessee, Knoxville, for fiscal year 2016-2017, shall be reallocated in the university's budget and used by the university solely for scholarships to be awarded through a minority engineering scholarship program. Any funds from the budget of the office for diversity and inclusion that are not used for minority engineering scholarships in fiscal year 2016-2017 shall remain in the scholarship program for use in future fiscal years.
Added by 2016 Tenn. Acts, ch. 1066,s 1, eff. 5/20/2016.
Tenn. Code Ann. § 9-4-612 — TN Code / Title 9 / Chapter 4 / Section 9-4-612
Investments of state funds in obligations guaranteed by United States government
Status: in_force

(a) Notwithstanding any requirement of this part, or any other law to the contrary, on and after April 22, 2015, the state treasurer may, in the state treasurer's sole discretion, invest money in the custody of any officer or officers of the state, which is otherwise required to be invested pursuant to § 9-4-603 or § 9-4-608 , pursuant to this section, if the state officer or officers who have custody of the money request that the money be invested pursuant to this section. (b) Investments made pursuant to this section are not subject to § 9-4-602 . (c) The authorized instruments for investment under this section shall be: (1) Bonds, notes, and treasury bills of the United States or any other obligations guaranteed as to principal and interest by the United States or any of its agencies; and (2) Obligations guaranteed as to principal and interest by the federal home loan mortgage corporation, federal national mortgage association, student loan marketing association, and other United States government sponsored corporations. (d) Investments made pursuant to this section shall not be pooled, and each investor will bear the capital gains, income, and losses for that investor's investment. (e) The state treasurer shall keep a separate account, designated by name and number of each investor. Individual transactions and totals of all investments belonging to each investor shall be recorded in the accounts. (f) The state treasurer shall report monthly to every investor under this section. The report shall show any changes in investments made during the preceding month. (g) The state treasurer shall establish a revolving account, under the state treasurer's custody, to defray administrative costs, investment costs, and any other expenses associated with investments made pursuant to this section. The state treasurer may deduct from each investor's earnings, a reasonable charge for administering the investor's investment. In the event that the state treasurer does deduct an administrative fee, it shall be deposited and expended through the revolving account. (h) (1) Subject to subdivision (h)(2), at any time, an investor may request the return of the investor's principal investment or investment income or both; however, a redemption of the investment does not guarantee that an investor will receive the entire amount of the principal investment or investment income or both. (2) In any case where an investor requests the return of an investment that will require liquidation of the investment prior to the investment reaching full maturity, the liquidation and return of the investment shall not be made unless the state treasurer approves the liquidation of the investment. Amended by 2018 Tenn. Acts, ch. 909,s 1, eff. 5/3/2018. Added by 2015 Tenn. Acts, ch. 196,s 1, eff. 4/22/2015.
(a) Notwithstanding any requirement of this part, or any other law to the contrary, on and after April 22, 2015, the state treasurer may, in the state treasurer's sole discretion, invest money in the custody of any officer or officers of the state, which is otherwise required to be invested pursuant to § 9-4-603 or § 9-4-608 , pursuant to this section, if the state officer or officers who have custody of the money request that the money be invested pursuant to this section.
(b) Investments made pursuant to this section are not subject to § 9-4-602 .
(c) The authorized instruments for investment under this section shall be: (1) Bonds, notes, and treasury bills of the United States or any other obligations guaranteed as to principal and interest by the United States or any of its agencies; and (2) Obligations guaranteed as to principal and interest by the federal home loan mortgage corporation, federal national mortgage association, student loan marketing association, and other United States government sponsored corporations.
(1) Bonds, notes, and treasury bills of the United States or any other obligations guaranteed as to principal and interest by the United States or any of its agencies; and
(2) Obligations guaranteed as to principal and interest by the federal home loan mortgage corporation, federal national mortgage association, student loan marketing association, and other United States government sponsored corporations.
(d) Investments made pursuant to this section shall not be pooled, and each investor will bear the capital gains, income, and losses for that investor's investment.
(e) The state treasurer shall keep a separate account, designated by name and number of each investor. Individual transactions and totals of all investments belonging to each investor shall be recorded in the accounts.
(f) The state treasurer shall report monthly to every investor under this section. The report shall show any changes in investments made during the preceding month.
(g) The state treasurer shall establish a revolving account, under the state treasurer's custody, to defray administrative costs, investment costs, and any other expenses associated with investments made pursuant to this section. The state treasurer may deduct from each investor's earnings, a reasonable charge for administering the investor's investment. In the event that the state treasurer does deduct an administrative fee, it shall be deposited and expended through the revolving account.
(h) (1) Subject to subdivision (h)(2), at any time, an investor may request the return of the investor's principal investment or investment income or both; however, a redemption of the investment does not guarantee that an investor will receive the entire amount of the principal investment or investment income or both. (2) In any case where an investor requests the return of an investment that will require liquidation of the investment prior to the investment reaching full maturity, the liquidation and return of the investment shall not be made unless the state treasurer approves the liquidation of the investment.
(1) Subject to subdivision (h)(2), at any time, an investor may request the return of the investor's principal investment or investment income or both; however, a redemption of the investment does not guarantee that an investor will receive the entire amount of the principal investment or investment income or both.
(2) In any case where an investor requests the return of an investment that will require liquidation of the investment prior to the investment reaching full maturity, the liquidation and return of the investment shall not be made unless the state treasurer approves the liquidation of the investment.
Amended by 2018 Tenn. Acts, ch. 909,s 1, eff. 5/3/2018.
Added by 2015 Tenn. Acts, ch. 196,s 1, eff. 4/22/2015.
Tenn. Code Ann. § 9-4-510 — TN Code / Title 9 / Chapter 4 / Section 9-4-510
Guarantee to public depositors against loss
Status: in_force

A qualified public depository shall guarantee public depositors against loss caused by the default or insolvency of other qualified public depositories as provided in § 9-4-512 . Acts 1990, ch. 1043, § 1; 1996, ch. 621, § 12.
A qualified public depository shall guarantee public depositors against loss caused by the default or insolvency of other qualified public depositories as provided in § 9-4-512 .
Acts 1990, ch. 1043, § 1; 1996, ch. 621, § 12.
Tenn. Code Ann. § 9-4-501 — TN Code / Title 9 / Chapter 4 / Section 9-4-501
Short title
Status: in_force

This part shall be known and may be cited as the "Collateral Pool for Public Deposits Act of 1990." Acts 1990, ch. 1043, § 1.
This part shall be known and may be cited as the "Collateral Pool for Public Deposits Act of 1990."
Acts 1990, ch. 1043, § 1.
Tenn. Code Ann. § 9-23-101 — TN Code / Title 9 / Chapter 23 / Section 9-23-101
Short title
Status: in_force

This chapter shall be known and may be cited as the "Uniformity in Tax Increment Financing Act of 2012." Acts 2012, ch. 605, § 1.
This chapter shall be known and may be cited as the "Uniformity in Tax Increment Financing Act of 2012."
Acts 2012, ch. 605, § 1.
Tenn. Code Ann. § 9-4-108 — TN Code / Title 9 / Chapter 4 / Section 9-4-108
Trustee custodian
Status: in_force

(a) "Trustee custodian" means any bank or federal reserve bank or branch thereof or the federal home loan bank which the state treasurer has designated as trustee custodian to hold eligible collateral on behalf of the state treasurer. Such designation by the state treasurer of a bank other than a federal reserve bank or the federal home loan bank shall be submitted to the commissioners of financial institutions and finance and administration for their concurrence. (b) Financial institutions located outside this state shall be eligible to apply to be designated as trustee custodians pursuant to subsection (a); provided, that the financial institution: (1) Is approved to serve as a trustee custodian to hold collateral pledged to secure United States treasury tax and loan accounts; (2) Agrees that the laws of this state shall govern in determining its rights and responsibilities as a trustee custodian; and (3) Agrees to be subject to the jurisdiction of the courts of this state, or of the courts of the United States which are located within this state, for the purpose of any litigation arising out of this chapter. Acts 1985, ch. 118, § 20; 1990, ch. 702, § 6.
(a) "Trustee custodian" means any bank or federal reserve bank or branch thereof or the federal home loan bank which the state treasurer has designated as trustee custodian to hold eligible collateral on behalf of the state treasurer. Such designation by the state treasurer of a bank other than a federal reserve bank or the federal home loan bank shall be submitted to the commissioners of financial institutions and finance and administration for their concurrence.
(b) Financial institutions located outside this state shall be eligible to apply to be designated as trustee custodians pursuant to subsection (a); provided, that the financial institution: (1) Is approved to serve as a trustee custodian to hold collateral pledged to secure United States treasury tax and loan accounts; (2) Agrees that the laws of this state shall govern in determining its rights and responsibilities as a trustee custodian; and (3) Agrees to be subject to the jurisdiction of the courts of this state, or of the courts of the United States which are located within this state, for the purpose of any litigation arising out of this chapter.
(1) Is approved to serve as a trustee custodian to hold collateral pledged to secure United States treasury tax and loan accounts;
(2) Agrees that the laws of this state shall govern in determining its rights and responsibilities as a trustee custodian; and
(3) Agrees to be subject to the jurisdiction of the courts of this state, or of the courts of the United States which are located within this state, for the purpose of any litigation arising out of this chapter.
Acts 1985, ch. 118, § 20; 1990, ch. 702, § 6.
Tenn. Code Ann. § 9-21-204 — TN Code / Title 9 / Chapter 21 / Section 9-21-204
Sale of general obligation bonds to a state or federal agency
Status: in_force

If any general obligation bonds are to be sold pursuant to a commitment of a state or federal agency to purchase the same, such bonds may be sold at a private negotiated sale to the state or federal agency without the necessity of any public advertisement of the sale or of the approval of the comptroller of the treasury or the comptroller's designee. Acts 1986, ch. 770, § 2-4; 2005, ch. 393, § 3; 2010, ch. 868, § 44.
If any general obligation bonds are to be sold pursuant to a commitment of a state or federal agency to purchase the same, such bonds may be sold at a private negotiated sale to the state or federal agency without the necessity of any public advertisement of the sale or of the approval of the comptroller of the treasury or the comptroller's designee.
Acts 1986, ch. 770, § 2-4; 2005, ch. 393, § 3; 2010, ch. 868, § 44.
Tenn. Code Ann. § 9-4-517 — TN Code / Title 9 / Chapter 4 / Section 9-4-517
Mandatory withdrawal from collateral pool
Status: in_force

(a) A qualified public depository is required to withdraw upon a majority vote of the board. The board may vote to require a qualified public depository to withdraw upon a default by the qualified public depository, or upon the failure of the qualified public depository to meet the eligibility or pledging criteria established by the board. The board shall establish an effective date for such withdrawal. (b) The state treasurer shall notify the qualified public depository of the effective date of the withdrawal not less than thirty (30) days prior to such effective date. Within ten (10) business days after receipt of such notification, the qualified public depository must notify the public depositors having public deposits at the qualified public depository of the effective date of the withdrawal. On the effective date of withdrawal, the state treasurer is authorized to transfer eligible collateral as jointly directed by the public depository and public depositors to ensure that public depositors are adequately collateralized individually. (c) The contingent liability for any loss prior to the effective date of withdrawal of the depository withdrawing from the collateral pool shall continue after the effective date of the withdrawal. The board may establish minimum collateral and reporting requirements sufficient to meet the needs to satisfy any potential contingent liability of a withdrawing qualified public depository. Acts 1990, ch. 1043, § 1.
(a) A qualified public depository is required to withdraw upon a majority vote of the board. The board may vote to require a qualified public depository to withdraw upon a default by the qualified public depository, or upon the failure of the qualified public depository to meet the eligibility or pledging criteria established by the board. The board shall establish an effective date for such withdrawal.
(b) The state treasurer shall notify the qualified public depository of the effective date of the withdrawal not less than thirty (30) days prior to such effective date. Within ten (10) business days after receipt of such notification, the qualified public depository must notify the public depositors having public deposits at the qualified public depository of the effective date of the withdrawal. On the effective date of withdrawal, the state treasurer is authorized to transfer eligible collateral as jointly directed by the public depository and public depositors to ensure that public depositors are adequately collateralized individually.
(c) The contingent liability for any loss prior to the effective date of withdrawal of the depository withdrawing from the collateral pool shall continue after the effective date of the withdrawal. The board may establish minimum collateral and reporting requirements sufficient to meet the needs to satisfy any potential contingent liability of a withdrawing qualified public depository.
Acts 1990, ch. 1043, § 1.
Tenn. Code Ann. § 9-2-110 — TN Code / Title 9 / Chapter 2 / Section 9-2-110
Failure of judge or clerk to report
Status: in_force

(a) If any judge or clerk who has received any revenue fails to make such report in the time prescribed, such judge or clerk shall be subject to presentment; and, upon conviction, a judge shall be fined not less than ten dollars ($10.00) and a clerk not less than fifty dollars ($50.00). (b) If the jury by whom the defendant is tried and convicted finds that the failure to make such report was willful or due to gross neglect, such clerk or judge shall be removed from office, as a part of the judgment of the court. Acts 1875, ch. 46, § 5; Shan., §§ 1018, 1019; mod. Code 1932, §§ 1747, 1748; impl. am. Acts 1979, ch. 68, §§ 2, 3; T.C.A. (orig. ed.), § 9-210.
(a) If any judge or clerk who has received any revenue fails to make such report in the time prescribed, such judge or clerk shall be subject to presentment; and, upon conviction, a judge shall be fined not less than ten dollars ($10.00) and a clerk not less than fifty dollars ($50.00).
(b) If the jury by whom the defendant is tried and convicted finds that the failure to make such report was willful or due to gross neglect, such clerk or judge shall be removed from office, as a part of the judgment of the court.
Acts 1875, ch. 46, § 5; Shan., §§ 1018, 1019; mod. Code 1932, §§ 1747, 1748; impl. am. Acts 1979, ch. 68, §§ 2, 3; T.C.A. (orig. ed.), § 9-210.
Tenn. Code Ann. § 9-21-1014 — TN Code / Title 9 / Chapter 21 / Section 9-21-1014
Revenue refunding bonds of the same issue shall be equally and ratably secured
Status: in_force

All revenue refunding bonds of the same issue shall be equally and ratably secured, without priority by reason of number, date of bonds, date of sale, date of execution or of delivery, by a lien upon the revenues of the enterprise, the revenues of which are pledged to the payment of such bonds, in accordance with this part and the resolution authorizing the issuance of the revenue refunding bonds. Acts 1986, ch. 770, § 10-14.
All revenue refunding bonds of the same issue shall be equally and ratably secured, without priority by reason of number, date of bonds, date of sale, date of execution or of delivery, by a lien upon the revenues of the enterprise, the revenues of which are pledged to the payment of such bonds, in accordance with this part and the resolution authorizing the issuance of the revenue refunding bonds.
Acts 1986, ch. 770, § 10-14.
Tenn. Code Ann. § 9-22-104 — TN Code / Title 9 / Chapter 22 / Section 9-22-104
Perfection of pledges or liens
Status: in_force

The grant of a pledge or the creation of a lien on collateral by an issuer, which grant or creation is otherwise authorized under Tennessee law, shall be valid and binding from the time that the pledge or lien is created or granted and shall inure to the benefit of the holder or holders of the public obligations with respect to which such pledge or lien was created or granted until the payment in full of the principal thereof and premium and interest thereon, and neither the official action nor any other instrument granting, creating, or giving notice of the pledge or lien need be publicly filed or recorded to preserve, protect or perfect the validity or priority of such pledge or lien. Acts 2001, ch. 290, § 1.
The grant of a pledge or the creation of a lien on collateral by an issuer, which grant or creation is otherwise authorized under Tennessee law, shall be valid and binding from the time that the pledge or lien is created or granted and shall inure to the benefit of the holder or holders of the public obligations with respect to which such pledge or lien was created or granted until the payment in full of the principal thereof and premium and interest thereon, and neither the official action nor any other instrument granting, creating, or giving notice of the pledge or lien need be publicly filed or recorded to preserve, protect or perfect the validity or priority of such pledge or lien.
Acts 2001, ch. 290, § 1.
Tenn. Code Ann. § 9-21-1101 — TN Code / Title 9 / Chapter 21 / Section 9-21-1101
Authorization, security, and retirement of health care revenue anticipation notes
Status: in_force

The governing body of a local government operating a nursing home is authorized to issue health care revenue anticipation notes under this part and part 1 of this chapter for the purpose of providing funds to be transferred to the state pursuant to an approved intergovernmental transfer agreement between the state and the local government. The principal amount of the notes shall not exceed an amount as determined by the commissioner of finance and administration, as specified in the intergovernmental transfer agreement. The sale of the notes shall first be approved by the comptroller of the treasury or the comptroller's designee. Such notes and any interest thereon shall be secured solely by the payments by the state to the local government pursuant to the intergovernmental transfer agreement, and any payments received from the state by the local government shall immediately be applied to the retirement of any health care revenue anticipation notes issued for such purpose, together with any interest accruing thereon, with any remainder being used in such manner as determined by the governing body of the local government. Acts 2004, ch. 705, § 2; 2010, ch. 868, § 72.
The governing body of a local government operating a nursing home is authorized to issue health care revenue anticipation notes under this part and part 1 of this chapter for the purpose of providing funds to be transferred to the state pursuant to an approved intergovernmental transfer agreement between the state and the local government. The principal amount of the notes shall not exceed an amount as determined by the commissioner of finance and administration, as specified in the intergovernmental transfer agreement. The sale of the notes shall first be approved by the comptroller of the treasury or the comptroller's designee. Such notes and any interest thereon shall be secured solely by the payments by the state to the local government pursuant to the intergovernmental transfer agreement, and any payments received from the state by the local government shall immediately be applied to the retirement of any health care revenue anticipation notes issued for such purpose, together with any interest accruing thereon, with any remainder being used in such manner as determined by the governing body of the local government.
Acts 2004, ch. 705, § 2; 2010, ch. 868, § 72.
Tenn. Code Ann. § 9-11-118 — TN Code / Title 9 / Chapter 11 / Section 9-11-118
Remedies of bondholders
Status: in_force

(a) Any holder of bonds issued under this chapter, or any person or officer being a party in interest, may either at law or in equity by suit, action or mandamus, enforce and compel the performance of the duties required by this chapter of the governing body or any board or officer of the unit. (b) Inasmuch as the purpose of this chapter is to place and maintain the fiscal affairs of the counties and cities in the state on a cash basis, this chapter shall constitute an irrepealable contract with the holders of bonds issued under this chapter. Acts 1937, ch. 300, § 19; C. Supp. 1950, § 3516.28 (Williams, § 3516.29); T.C.A. (orig. ed.), § 9-1118.
(a) Any holder of bonds issued under this chapter, or any person or officer being a party in interest, may either at law or in equity by suit, action or mandamus, enforce and compel the performance of the duties required by this chapter of the governing body or any board or officer of the unit.
(b) Inasmuch as the purpose of this chapter is to place and maintain the fiscal affairs of the counties and cities in the state on a cash basis, this chapter shall constitute an irrepealable contract with the holders of bonds issued under this chapter.
Acts 1937, ch. 300, § 19; C. Supp. 1950, § 3516.28 (Williams, § 3516.29); T.C.A. (orig. ed.), § 9-1118.
Tenn. Code Ann. § 9-8-405 — TN Code / Title 9 / Chapter 8 / Section 9-8-405
Settlement of claims - Mediation
Status: in_force

(a) Any claim filed with the division may be settled pursuant to § 20-13-103 , following consultation with the governmental entity affected therein. Additionally, the attorney general and reporter, with the written approval of the governor and the comptroller of the treasury, may authorize the state treasurer to settle certain classes of claims without the necessity of complying with § 20-13-103 . (b) In the event of disapproval of a proposed settlement, the claim shall be processed in the same manner as other claims before the commission. (c) By agreement of the parties, a mediator may be employed in an attempt to settle a claim. Such a claim still must be settled in accordance with subsection (a) and/or § 20-13-103 . Costs associated with alternative dispute resolution, as agreed to by the parties, shall be paid from the risk management fund. Acts 1984, ch. 972, § 13; 1997, ch. 165, § 9; 2003, ch. 212, § 8.
(a) Any claim filed with the division may be settled pursuant to § 20-13-103 , following consultation with the governmental entity affected therein. Additionally, the attorney general and reporter, with the written approval of the governor and the comptroller of the treasury, may authorize the state treasurer to settle certain classes of claims without the necessity of complying with § 20-13-103 .
(b) In the event of disapproval of a proposed settlement, the claim shall be processed in the same manner as other claims before the commission.
(c) By agreement of the parties, a mediator may be employed in an attempt to settle a claim. Such a claim still must be settled in accordance with subsection (a) and/or § 20-13-103 . Costs associated with alternative dispute resolution, as agreed to by the parties, shall be paid from the risk management fund.
Acts 1984, ch. 972, § 13; 1997, ch. 165, § 9; 2003, ch. 212, § 8.
Tenn. Code Ann. § 9-21-802 — TN Code / Title 9 / Chapter 21 / Section 9-21-802
Terms of tax anticipation notes
Status: in_force

Tax anticipation notes shall be sold at not less than par value and accrued interest. Tax anticipation notes may be sold in one (1) or more series, may bear such date or dates, may bear interest at such rate or rates (which may vary from time to time), may be payable at such time or times, may be in such denomination or denominations, may be in such form, either coupon or registered, may be payable at such place or places, may be executed in such manner, may be payable in such medium of payment, may be subject to such terms of redemption, without a premium, all as may be provided by resolution of the governing body of the local government. Acts 1986, ch. 770, § 8-2.
Tax anticipation notes shall be sold at not less than par value and accrued interest. Tax anticipation notes may be sold in one (1) or more series, may bear such date or dates, may bear interest at such rate or rates (which may vary from time to time), may be payable at such time or times, may be in such denomination or denominations, may be in such form, either coupon or registered, may be payable at such place or places, may be executed in such manner, may be payable in such medium of payment, may be subject to such terms of redemption, without a premium, all as may be provided by resolution of the governing body of the local government.
Acts 1986, ch. 770, § 8-2.
Tenn. Code Ann. § 9-14-108 — TN Code / Title 9 / Chapter 14 / Section 9-14-108
Construction of chapter
Status: in_force

This chapter, being necessary for the welfare of the state and its inhabitants, shall be liberally construed so as to effectuate its purposes. Acts 1975, ch. 312, § 8; T.C.A., § 9-1508.
This chapter, being necessary for the welfare of the state and its inhabitants, shall be liberally construed so as to effectuate its purposes.
Acts 1975, ch. 312, § 8; T.C.A., § 9-1508.
Tenn. Code Ann. § 9-8-110 — TN Code / Title 9 / Chapter 8 / Section 9-8-110
Division of claims and risk management
Status: in_force

The state treasurer shall administer a division of claims and risk management to compile information and administer risk management programs. This division shall serve as staff to the board of claims in matters relating to casualty risk. Amended by 2017 Tenn. Acts, ch. 271,s 2, eff. 5/4/2017. Acts 1984, ch. 972, § 18; 1994, ch. 669, § 3.
The state treasurer shall administer a division of claims and risk management to compile information and administer risk management programs. This division shall serve as staff to the board of claims in matters relating to casualty risk.
Amended by 2017 Tenn. Acts, ch. 271,s 2, eff. 5/4/2017.
Acts 1984, ch. 972, § 18; 1994, ch. 669, § 3.
Tenn. Code Ann. § 9-11-119 — TN Code / Title 9 / Chapter 11 / Section 9-11-119
Nature and construction of chapter
Status: in_force

No restriction, limitation, or provision contained in any other law, either public or private, relating to the issuance of bonds, notes, or other obligations of a unit, or limiting the amount of taxes which may be levied in a unit, shall apply to bonds or notes issued under this chapter. The powers granted by this chapter are in addition to all other powers heretofore granted to a unit, and nothing herein contained shall be construed as prohibiting a unit from issuing bonds or notes under any public or private statute applicable to such unit. Nothing in this chapter shall be construed as mandatory for any unit to issue funding or refunding bonds under the terms and conditions of this chapter. Acts 1937, ch. 300, § 5; C. Supp. 1950, § 3516.15; T.C.A. (orig. ed.), § 9-1119; Acts 1982, ch. 580, § 3.
No restriction, limitation, or provision contained in any other law, either public or private, relating to the issuance of bonds, notes, or other obligations of a unit, or limiting the amount of taxes which may be levied in a unit, shall apply to bonds or notes issued under this chapter. The powers granted by this chapter are in addition to all other powers heretofore granted to a unit, and nothing herein contained shall be construed as prohibiting a unit from issuing bonds or notes under any public or private statute applicable to such unit. Nothing in this chapter shall be construed as mandatory for any unit to issue funding or refunding bonds under the terms and conditions of this chapter.
Acts 1937, ch. 300, § 5; C. Supp. 1950, § 3516.15; T.C.A. (orig. ed.), § 9-1119; Acts 1982, ch. 580, § 3.
Tenn. Code Ann. § 9-4-402 — TN Code / Title 9 / Chapter 4 / Section 9-4-402
Reports by commissioner of financial institutions
Status: in_force

(a) It is the duty of the commissioner of financial institutions to advise, on a timely basis, the state treasurer and the commissioner of finance and administration of the condition of each state bank and state chartered savings and loan association, including recommendations regarding its condition and safety as a state depository. (b) It is the duty of the commissioner of financial institutions to make inquiry, on a timely basis, of the United States comptroller of the currency, respecting the condition and safety of each national bank as a state depository, and to advise the state treasurer and the commissioner of finance and administration of the results. (c) It is the duty of the commissioner of financial institutions to make inquiry, on a timely basis, of the federal deposit insurance corporation, respecting the condition and safety of each federally chartered federal savings bank as a state depository, and to advise the state treasurer and the commissioner of finance and administration of the results. (d) Any doubts as to the safety of any state depository shall be resolved by the state treasurer and the commissioner of finance and administration against the depository; in the event the two (2) disagree, the commissioner of financial institutions shall vote. (e) If determined to be necessary under subsection (d), steps toward further security or realization shall be taken in accordance with the direction of the state treasurer and the commissioner of finance and administration. Such steps may include a requirement that additional collateral be pledged or all or a portion of the state deposit may be withdrawn without penalty or forfeiture of interest. Acts 1985, ch. 118, § 32.
(a) It is the duty of the commissioner of financial institutions to advise, on a timely basis, the state treasurer and the commissioner of finance and administration of the condition of each state bank and state chartered savings and loan association, including recommendations regarding its condition and safety as a state depository.
(b) It is the duty of the commissioner of financial institutions to make inquiry, on a timely basis, of the United States comptroller of the currency, respecting the condition and safety of each national bank as a state depository, and to advise the state treasurer and the commissioner of finance and administration of the results.
(c) It is the duty of the commissioner of financial institutions to make inquiry, on a timely basis, of the federal deposit insurance corporation, respecting the condition and safety of each federally chartered federal savings bank as a state depository, and to advise the state treasurer and the commissioner of finance and administration of the results.
(d) Any doubts as to the safety of any state depository shall be resolved by the state treasurer and the commissioner of finance and administration against the depository; in the event the two (2) disagree, the commissioner of financial institutions shall vote.
(e) If determined to be necessary under subsection (d), steps toward further security or realization shall be taken in accordance with the direction of the state treasurer and the commissioner of finance and administration. Such steps may include a requirement that additional collateral be pledged or all or a portion of the state deposit may be withdrawn without penalty or forfeiture of interest.
Acts 1985, ch. 118, § 32.
Tenn. Code Ann. § 9-8-305 — TN Code / Title 9 / Chapter 8 / Section 9-8-305
Powers and duties
Status: in_force

Each commissioner, and each administrative law judge assigned pursuant to this part, has the authority to: (1) Hear and determine claims against the state falling within the categories enumerated in § 9-8-307 ; (2) Issue subpoenas, swear in witnesses at hearings and other commission functions, effect discovery and issue protective orders and the like, and seek enforcement pursuant to § 4-5-311(a) and (b) ; (3) Rule on motions and objections; (4) Regulate the course of proceedings; (5) Take official notice of: (A) State statutes and the rules and regulations of state agencies; and (B) Any fact that can be judicially noticed; and (6) Issue written findings of facts and opinions of law. Acts 1984, ch. 972, § 5; 1986, ch. 626, § 7; 1997, ch. 165, §§ 4, 5.
Each commissioner, and each administrative law judge assigned pursuant to this part, has the authority to:
(1) Hear and determine claims against the state falling within the categories enumerated in § 9-8-307 ;
(2) Issue subpoenas, swear in witnesses at hearings and other commission functions, effect discovery and issue protective orders and the like, and seek enforcement pursuant to § 4-5-311(a) and (b) ;
(3) Rule on motions and objections;
(4) Regulate the course of proceedings;
(5) Take official notice of: (A) State statutes and the rules and regulations of state agencies; and (B) Any fact that can be judicially noticed; and
(A) State statutes and the rules and regulations of state agencies; and
(B) Any fact that can be judicially noticed; and
(6) Issue written findings of facts and opinions of law.
Acts 1984, ch. 972, § 5; 1986, ch. 626, § 7; 1997, ch. 165, §§ 4, 5.
Tenn. Code Ann. § 9-21-916 — TN Code / Title 9 / Chapter 21 / Section 9-21-916
Remedies of general obligation refunding bondholders
Status: in_force

Any holder of general obligation refunding bonds issued pursuant to this part and part 1 of this chapter shall have all rights provided in § 9-21-216 , in addition to all other rights provided by law. Acts 1986, ch. 770, § 9-16.
Any holder of general obligation refunding bonds issued pursuant to this part and part 1 of this chapter shall have all rights provided in § 9-21-216 , in addition to all other rights provided by law.
Acts 1986, ch. 770, § 9-16.
Tenn. Code Ann. § 9-21-602 — TN Code / Title 9 / Chapter 21 / Section 9-21-602
Purchase price and terms of capital outlay notes - Weighted average maturity of capital outlay notes
Status: in_force

(a) Capital outlay notes must be sold for not less than ninety-nine percent (99%) of the par value thereof and accrued interest as the governing body of the local government may direct. Capital outlay notes may be sold in one (1) or more series; may bear such date or dates; may bear interest at such rate or rates, which may vary from time to time; may be payable at such time or times; may be in such denomination or denominations; may be in such form, either coupon or registered; may be payable at such place or places; may be executed in such manner; may be payable in such medium of payment; may be subject to such terms of redemption, without a premium or, for notes sold for not less than the par value thereof and accrued interest, without or with a premium of not exceeding one percent (1%) of the principal amount thereof, all as may be provided by resolution of the governing body of the local government. (b) The weighted average maturity of capital outlay notes issued pursuant to this part and parts 1 and 4 of this chapter must not exceed the reasonably expected weighted average life of the project being financed as stated in the resolution authorizing the capital outlay notes. An erroneous estimate of the reasonably expected weighted average life of the project must in no way affect the validity of such notes. Amended by 2021 Tenn. Acts, ch. 128, s 12, eff. 4/13/2021. Acts 1986, ch. 770, § 6-2; 1999, ch. 432, § 6; 2001, ch. 253, § 9.
(a) Capital outlay notes must be sold for not less than ninety-nine percent (99%) of the par value thereof and accrued interest as the governing body of the local government may direct. Capital outlay notes may be sold in one (1) or more series; may bear such date or dates; may bear interest at such rate or rates, which may vary from time to time; may be payable at such time or times; may be in such denomination or denominations; may be in such form, either coupon or registered; may be payable at such place or places; may be executed in such manner; may be payable in such medium of payment; may be subject to such terms of redemption, without a premium or, for notes sold for not less than the par value thereof and accrued interest, without or with a premium of not exceeding one percent (1%) of the principal amount thereof, all as may be provided by resolution of the governing body of the local government.
(b) The weighted average maturity of capital outlay notes issued pursuant to this part and parts 1 and 4 of this chapter must not exceed the reasonably expected weighted average life of the project being financed as stated in the resolution authorizing the capital outlay notes. An erroneous estimate of the reasonably expected weighted average life of the project must in no way affect the validity of such notes.
Amended by 2021 Tenn. Acts, ch. 128, s 12, eff. 4/13/2021.
Acts 1986, ch. 770, § 6-2; 1999, ch. 432, § 6; 2001, ch. 253, § 9.