reglab/housing_qa huggingface dataset:
TN Code § 4-31-1002 (2021)
2021 Tennessee Code|Title 4 - State Government|Chapter 31 - Tennessee Local Development Authority Act|Part 10 - Tennessee Lottery Funds for Education Projects Loan Act of 2003|§ 4-31-1002. Legislative Intent

  The general assembly finds and declares that:  Financing costs incurred by local governments in connection with education projects are a significant factor in the ability of the local governments to meet the kindergarten through grade twelve (K-12) educational needs of their communities; and   To the extent that financing of education projects can be accomplished less expensively through the pooling of needs and the use of less costly borrowing techniques, local governments would be better able to provide education projects, and other essential services for the benefit of their citizens and taxpayers.      It is accordingly in furtherance of the interests and welfare of all Tennesseans that the Tennessee local development authority shall be empowered and is authorized to issue its revenue bonds and to make the proceeds available for loans to local government units for capital projects for kindergarten through grade twelve (K-12) educational purposes.   It is intended that the Tennessee local development authority be vested with all powers necessary to accomplish these purposes.
TN Code § 4-31-1003 (2021)
2021 Tennessee Code|Title 4 - State Government|Chapter 31 - Tennessee Local Development Authority Act|Part 10 - Tennessee Lottery Funds for Education Projects Loan Act of 2003|§ 4-31-1003. Part Definitions

 As used in this part, unless the context otherwise requires:   “Authority” means the Tennessee local development authority;   “Construction” means the building, reconstruction, creation, replacement, extension, repairing, betterment, improvement, alteration, equipment, extension, or acquisition, including, but not limited to, the acquisition of land and of rights in land, the engineering, architectural designs, plans, working drawings, specifications, procedures, and other action necessary in the construction of such capital projects, and the inspection and supervision of such capital projects;   “Education project” means a capital outlay project for kindergarten through grade twelve (K-12) educational facilities; and   “Local education agency” or “LEA” has the same meaning as defined in § 49-3-302.
TN Code § 4-31-1004 (2021)
2021 Tennessee Code|Title 4 - State Government|Chapter 31 - Tennessee Local Development Authority Act|Part 10 - Tennessee Lottery Funds for Education Projects Loan Act of 2003|§ 4-31-1004. Power and Authority

  In addition to the powers otherwise granted by law, the authority has the power and is authorized to make loans to any local government unit to finance the construction of education projects pursuant to a loan agreement between the local government unit and the authority. Such loans shall be made from the proceeds of bonds or notes issued by the authority pursuant to this chapter for the purpose of making such loans; provided, however, that the bonds and notes of the authority that may be outstanding at any time for such purpose shall not exceed seventy-five million dollars ($75,000,000). Such bonds or notes may be payable from or secured by the general shortfall reserve subaccount created by § 4-51-111 as the authority may provide in the indentures or resolutions authorizing and securing the authority's bonds and notes, which indentures and resolutions may include covenants with the holders of the bonds and notes with respect to the use, including limitations on such use, of such subaccount.   Only local government units funding the local share of the basic education program for a local education agency shall be eligible to participate in the loan program.
TN Code § 4-31-1006 (2021)
2021 Tennessee Code|Title 4 - State Government|Chapter 31 - Tennessee Local Development Authority Act|Part 10 - Tennessee Lottery Funds for Education Projects Loan Act of 2003|§ 4-31-1006. Levy and Collection of Tax to Pay for Loan

  Whenever, and as often as, a local government unit enters into a loan agreement with the authority under this part, the governing body of such local government unit shall provide by resolution for the levy and collection of a tax upon all taxable property within the local government unit sufficient to pay when due all amounts payable under the loan agreement as and when such amounts become due and payable, including all fees and charges due the authority under such loan agreement and, furthermore, to pledge such tax and the full faith and credit of such local government unit to such payments; provided, however, that a special school district shall provide for the collection of such a tax upon the levy of the tax by the general assembly or shall pledge sufficient amounts from previously authorized taxes to cover all amounts due.   The tax provided for in subsection (a) shall be assessed, levied, collected, and paid in like manner as other taxes of the local government unit, except as provided in subsection (a).   The tax provided for in subsection (a) shall not be included within any statutory or other limitation of rate or amount for such local government, but shall be excluded therefrom and be in addition thereto and in excess thereof, notwithstanding and without regard to the prohibitions, restrictions, or requirements of any other law, whether public or private.   There shall be set aside from the tax levy into a special fund an amount sufficient for the payment of the annual amount due under any such loan agreement and such additional amounts as may be required by the loan agreement for reserves. The money in such funds shall be used exclusively for such purposes and shall not be used for any other purpose until such annual amount has been paid in full or such reserve requirement has been fully satisfied.
TN Code § 4-31-1007 (2021)
2021 Tennessee Code|Title 4 - State Government|Chapter 31 - Tennessee Local Development Authority Act|Part 10 - Tennessee Lottery Funds for Education Projects Loan Act of 2003|§ 4-31-1007. Failure to Remit Funds

  In the event any local government unit having entered into a loan agreement shall fail to remit funds in accordance with a loan agreement, the authority shall notify the commissioner of education who shall instruct the commissioner of finance and administration to deliver within five (5) days notice of such failure to the local government unit.   In the event the local government unit shall fail to remit the amount set forth in the notice within thirty (30) days of the receipt of the notice, the commissioner of finance and administration shall, without further authorization, withhold such sum or part of such sum from the state share of the nonclassroom capital outlay portion of the basic education program fund that is otherwise apportioned to such local education agency and pledged to the authority for the loan to such local government unit, for the benefit of the authority issuing bonds or notes for the purposes referred to in this part.   In the event there are not sufficient funds in the state share of the nonclassroom capital outlay portion of the basic education program fund still held by the commissioner of finance and administration for the local education agency to cure the deficiency in repayments to the authority, the commissioner shall transfer to the authority funds equal to the amount of the remaining payment deficiency from the general shortfall reserve subaccount of the lottery for education account as established by § 4-51-111, subject to any limitations on the use of the subaccount established pursuant to § 4-31-1004(a). The commissioner of education shall instruct the commissioner of finance and administration to withhold from the state share of the nonclassroom capital outlay portion of subsequent basic education program funds apportioned to such local education agency an amount to replenish the general shortfall reserve subaccount of the lottery for education account equal to the amount transferred to the authority.
TN Code § 4-31-1008 (2021)
2021 Tennessee Code|Title 4 - State Government|Chapter 31 - Tennessee Local Development Authority Act|Part 10 - Tennessee Lottery Funds for Education Projects Loan Act of 2003|§ 4-31-1008. Rights of the Authority

 The authority has the right, in addition to all other rights, by mandamus or other suit, action, or proceeding in any court of competent jurisdiction, to require the local government unit, the governing body, and any proper officer, agent, or employee of the local government unit to carry out any agreements and to perform its and their duties under this part or under any rule or regulation of the authority adopted pursuant to this part.
TN Code § 4-31-1009 (2021)
2021 Tennessee Code|Title 4 - State Government|Chapter 31 - Tennessee Local Development Authority Act|Part 10 - Tennessee Lottery Funds for Education Projects Loan Act of 2003|§ 4-31-1009. Limits on Indebtedness

 Local government units may enter into loan agreements under this part notwithstanding and without regard to any limit on indebtedness provided by law.
TN Code § 4-31-1010 (2021)
2021 Tennessee Code|Title 4 - State Government|Chapter 31 - Tennessee Local Development Authority Act|Part 10 - Tennessee Lottery Funds for Education Projects Loan Act of 2003|§ 4-31-1010. Resolutions

 All action required or authorized to be taken under this part by the governing body of any local government unit may be by resolution, which resolution may be adopted at the meeting of the governing body at which such resolution is introduced, and shall take effect immediately upon its adoption.
TN Code § 4-31-1011 (2021)
2021 Tennessee Code|Title 4 - State Government|Chapter 31 - Tennessee Local Development Authority Act|Part 10 - Tennessee Lottery Funds for Education Projects Loan Act of 2003|§ 4-31-1011. Provisions Supplemental

  This part shall be in addition to and supplemental to any other law providing for the financing of education projects by local government units.   Notwithstanding any law to the contrary, no proceedings by a local government unit or local education agency shall be required for loan agreements hereunder, except as provided by this part.   No requirements or restrictions applicable to borrowing by a local government unit contained in any other law shall be applicable to loans under this part.
TN Code § 4-31-1012 (2021)
2021 Tennessee Code|Title 4 - State Government|Chapter 31 - Tennessee Local Development Authority Act|Part 10 - Tennessee Lottery Funds for Education Projects Loan Act of 2003|§ 4-31-1012. Pledges

  Any pledge made by the authority pursuant to this chapter, or by a local government unit pursuant to a loan program agreement, or by a local education agency in connection therewith shall be valid and binding from the time when the pledge is made, the moneys or property so pledged and thereafter received by the authority or local government unit, as applicable, shall immediately be subject to the lien of such pledge without any physical delivery thereof or further act. The lien of any such pledge shall be valid and binding as against all parties having claims of any kind in tort, contract, or otherwise against the authority, local government units, or local education agency as applicable, irrespective of whether such parties have notice of those claims.   Recording of the resolution or any other instrument by which a pledge is created is not required.
TN Code § 4-31-1101 (2021)
2021 Tennessee Code|Title 4 - State Government|Chapter 31 - Tennessee Local Development Authority Act|Part 11 - Enhancement Program for Debt Financing of Capital Projects|§ 4-31-1101. Part Definitions — Eligibility — Purposes — Application and Review Procedure

  For the purposes of this part, the following definitions shall apply:  “Authority”, “construction”, and “education project” as defined in § 4-31-1003;   “Available local capital outlay funds” means, with respect to any LGU or LEA, the state share of the capital outlay portion of the nonclassroom component of the BEP funding as set forth in the formula model established or revised by the state board of education, or any replacement funding, approved by the general assembly from time to time, that the LGU or LEA is entitled to receive;   “Basic education program” (BEP) and “local education agency” (LEA) as defined in § 49-3-302;   “Education debt” means debt issued, together with any debt issued to renew or refund the debt, by any LGU to finance the construction of education projects subject to an agreement entered into pursuant to this part;   “Enhancement program” means the program established pursuant to this part; and   “Local government unit” (LGU), as defined in § 4-31-102.     Only LGUs funding the local share of the BEP for an LEA shall be eligible to participate in the program under this part.   The authority, in conjunction with the department of education, is empowered and is authorized to develop an enhancement program under which legally available state funds and available local capital outlay funds assigned or pledged by the LGU or LEA may be applied to one (1) or more of the following purposes for education debt issued by LGUs:  To pay the debt service on or to provide for the payment of debt service on such debt; or   To provide reserves for such debt.     The department of education, in conjunction with the authority, shall develop an application and review procedure for requests under this enhancement program. The department of education shall review each proposed education project and shall make recommendations to the authority as to the applications. The department shall monitor education projects during the term of the agreements required by § 4-31-1102.
TN Code § 4-31-1102 (2021)
2021 Tennessee Code|Title 4 - State Government|Chapter 31 - Tennessee Local Development Authority Act|Part 11 - Enhancement Program for Debt Financing of Capital Projects|§ 4-31-1102. Program Provisions

 Any program established by the authority pursuant to this part may include such provisions as may be agreed upon by the parties and shall additionally include, among other things, in substance, the following:   The structural requirements of the education debt issued by the LGU, including payment dates, maturity schedule, interest rates, and paying agent;   The coverage requirement for the available local capital outlay funds, provided that the maximum annual debt service on the education debt can be no greater than the available local capital outlay funds in the prior fiscal year divided by 1.25;   A description and estimated costs of the education project; and   An agreement by the LGU and the LEA to:  Proceed expeditiously with, and use its best efforts to complete, the education project;   Commence operation of the education project as soon as possible after completion, and not to use the education project for any purpose not approved pursuant to this part, and not to discontinue operations or dispose of the education project without the prior approval of the authority and the department of education;   Operate and maintain the project in accordance with applicable provisions of this part and rules and regulations of the department of education;   Assign or pledge available local capital outlay funds; and   Cause to be made an annual audit of the financial records of the LEA each fiscal year in accordance with generally accepted government auditing standards, and to furnish a copy of each such audit to the comptroller of the treasury.
TN Code § 4-31-1103 (2021)
2021 Tennessee Code|Title 4 - State Government|Chapter 31 - Tennessee Local Development Authority Act|Part 11 - Enhancement Program for Debt Financing of Capital Projects|§ 4-31-1103. Assignment or Pledge of Local Capital Outlay Funds as Security — Procedures

  Each LGU issuing education debt, as well as any LEA for which education debt is issued, are authorized to assign or pledge for the further security of the education debt the available local capital outlay funds, whether such debt is issued pursuant to title 9, chapter 21, or title 49, chapter 3, and to assign or pledge to the authority all right and interest in such funds to be used by the authority as permitted under this part.   Upon the approval of an application, the authority shall notify the commissioner of finance and administration, indicating the identity of the participating LGU and LEA and the terms of the assignment or pledge. The authority shall submit a certified copy of the debt service schedule for the education debt to the commissioner of finance and administration. The commissioner of finance and administration shall be entitled to rely on such schedule or other submitted documentation, without any further review or investigation. Notwithstanding § 49-3-101(b), the commissioner shall withhold and pay such sum from the available local capital outlay funds to the authority pursuant to any assignment or pledge.   Any earnings on such funds after receipt by the authority and prior to payment on the education debt shall accrue to the benefit of the authority.   The lien of any assignment or pledge pursuant to this part shall be valid and binding as of the time it is made, and as against all parties having claims of any kind in tort, contract, or otherwise against the LGU, the LEA, or the authority, regardless of whether such parties have notice of those claims. Recording of the resolution or any other instrument by which the assignment or pledge is created is not required. This part and the agreement required by § 4-31-1102 shall in all respects govern the creation, perfection, priority and enforcement of such assignment or pledge, and title 47, chapter 9 shall not govern such matters.
TN Code § 4-31-1201 (2021)
2021 Tennessee Code|Title 4 - State Government|Chapter 31 - Tennessee Local Development Authority Act|Part 12 - Tennessee Transportation State Infrastructure Fund Act|§ 4-31-1201. Short Title

 This part shall be known and may be cited as the “Tennessee Transportation State Infrastructure Fund Act.”
TN Code § 4-31-1203 (2021)
2021 Tennessee Code|Title 4 - State Government|Chapter 31 - Tennessee Local Development Authority Act|Part 12 - Tennessee Transportation State Infrastructure Fund Act|§ 4-31-1203. Establishment — Accounts — Investment of Funds — Interest and Earnings

  The department of finance and administration shall establish the Tennessee transportation state infrastructure fund, in the state treasury, under the control of the authority.   For necessary and convenient administration of the fund, the authority shall establish accounts and subaccounts as necessary to meet any applicable federal law requirements or as necessary or desirable in order to implement this part.   All federal funds shall be invested as required by applicable federal law, and all other funds shall be invested pursuant to state law.   All interest and earnings of the fund shall remain a part of the fund.   No part of the fund shall revert to the general fund on any June 30, but shall remain a part of the fund available for expenditure in accordance with this part.
TN Code § 4-31-1204 (2021)
2021 Tennessee Code|Title 4 - State Government|Chapter 31 - Tennessee Local Development Authority Act|Part 12 - Tennessee Transportation State Infrastructure Fund Act|§ 4-31-1204. Transfer of Funds From Existing Fund — Capitalization of Fund — Soliciting Funds — Prohibition Against Commingling Funds — Entering Cooperative Agreements

  The state treasurer shall transfer the balance from the existing fund for the Tennessee state infrastructure bank, administered by the department of transportation, on July 1, 2009, to the fund established in § 4-31-1203.   The following sources may be used to capitalize the fund and for the authority to carry out its purposes:  Appropriations by the general assembly;   Federal funds apportioned and available to the state, as approved by the department of transportation;   Contributions, donations, grants and deposits from the federal government, government units, private entities and any other source as may become available to the fund; and   All payments of principal and interest on loans or pursuant to the financing agreements.     In addition to the powers specified in part 1 of this chapter, the authority may request and receive funds from federal, state or other government sources or from private entities. The authority may request the department of transportation, or other state agencies or officials, as appropriate, to act on its behalf or to assist in making application for such funds. All funds received from government or private sources shall be deposited in the fund to be used in accordance with this part.   The authority shall comply with all applicable federal laws and regulations prohibiting the commingling of certain federal funds deposited in the fund.   The authority may enter into cooperative agreements with agencies of the federal government or other state agencies as necessary or desirable to implement this part.
TN Code § 4-31-1206 (2021)
2021 Tennessee Code|Title 4 - State Government|Chapter 31 - Tennessee Local Development Authority Act|Part 12 - Tennessee Transportation State Infrastructure Fund Act|§ 4-31-1206. Part Supplemental to Other Law — Debt Limit Not Applicable — Adequate Security — Pledge Valid and Binding — Misuse of Loan

  This part is in addition and supplemental to any other law providing for the financing of eligible projects of qualified borrowers and shall not be deemed to amend or repeal any other law.   Qualified borrowers may enter into financing agreements under this part, notwithstanding and without regard to any limit on indebtedness provided by law. No requirements or restraints applicable to borrowing by qualified borrowers contained in any other law shall be applicable to financing agreements or to the proceedings for approval of the financing agreements entered into under this part. Qualified borrowers entering into financing agreements may perform any acts, take any action, adopt any proceedings and make and carry out any contracts or agreements with the authority as may be agreed to by the authority and any qualified borrower for the carrying out of the purposes contemplated by this part.   In order to provide adequate security as may be required by the authority for a loan under this part, a qualified borrower is authorized to:  Receive, apply, pledge, assign and grant security interests in project revenues and any revenues from any other revenue producing facilities from which the qualified borrower derives project revenues to secure its obligations as provided in this part;   Pledge its state-shared taxes, as defined in § 4-31-102, if any;   Pledge the full faith and credit and unlimited taxing power, if any, of the qualified borrower as to all taxable property of the qualified borrower to the punctual payment of the loan; and   Pledge any other security determined by the authority to be acceptable to secure a loan under this part.      Any pledge made by the qualified borrower pursuant to this part shall be valid and binding from the time when the pledge is made, the moneys or property so pledged and thereafter received by the qualified borrower shall immediately be subject to the lien of such pledge without any physical delivery thereof or further act, and the lien of any such pledge shall be valid and binding as against all parties having claims of any kind in tort, contract or otherwise against the qualified borrower, regardless of whether the parties have notice of the lien of the pledge.   Neither the resolution nor any other instrument by which a pledge is created need be recorded.     A qualified borrower shall ensure that all loans received from the authority pursuant to this part are used in accordance with applicable federal and state law. The qualified borrower shall be liable for the repayment of the funds or damages caused in the event of any misuse of the loan received pursuant to this part.