reglab/statecodes huggingface dataset:
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 13 - LOANS TO LOCAL SUBDIVISIONS IN EMERGENCIES (§§ 9-13-101 — 9-13-302) › Part 2 - EMERGENCY FINANCIAL AID TO LOCAL GOVERNMENTS (§§ 9-13-201 — 9-13-212) › Section 9-13-207 - Scope of assistance - Guidelines - Personnel - Audits - County budgets

(a)
Whenever a loan is guaranteed by the state funding board, the comptroller of the treasury or the comptroller's designee shall, subject to the comptroller of the treasury's or the comptroller's designee's discretion, provide emergency technical assistance to such local government until such time as the local government has completely repaid any loans guaranteed by or owed to the state.
(b)
The comptroller of the treasury or the comptroller's designee shall provide emergency technical assistance under the guidelines of the statutes or private acts applicable to the local government and shall perform the duties prescribed by such statutes or private acts; provided, that if the applicable local government purchasing law authorizes emergency purchases, such emergency purchases shall only be made with the prior approval of the comptroller of the treasury or the comptroller's designee.
(c)
All authority for the implementation and administration of the laws set out in subsection (b) shall be vested in the comptroller of the treasury or the comptroller's designee.
(d)
(1)
Notwithstanding any other law, the comptroller of the treasury or the comptroller's designee has total and complete authority over the budget, purchases and expenditures of such local government, including the budget, purchases and expenditures of the local government school system and enterprise funds.
(2)
The commissioner of education shall appoint a qualified and responsible person to advise and assist the comptroller of the treasury or the comptroller's designee on budgeting, accounting, purchasing, and expenditures of the school system of the local government.
(e)
The comptroller of the treasury or the comptroller's designee shall require such periodic information from a local government operating under this part and require such audits as the comptroller of the treasury or the comptroller's designee may deem necessary. The annual budget of each local government shall be submitted to the comptroller of the treasury or the comptroller's designee at least three (3) weeks prior to its adoption. The comptroller of the treasury or the comptroller's designee shall determine whether or not the budget will be in balance and is fiscally responsible. No budget shall be adopted by the legislative body until it shall have been approved by the comptroller of the treasury or the comptroller's designee. Such governing body shall adopt a budget at the first meeting of the legislative body in July of each year or prior to such meeting as required by any public or private act, or as soon thereafter as practical, but in no event shall the budget be adopted later than the third Monday in September.
Acts 1984, ch. 996, § 8; 1992, ch. 526, § 8; 1995, ch. 63, § 1; 2010, ch. 868, § 38.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 13 - LOANS TO LOCAL SUBDIVISIONS IN EMERGENCIES (§§ 9-13-101 — 9-13-302) › Part 2 - EMERGENCY FINANCIAL AID TO LOCAL GOVERNMENTS (§§ 9-13-201 — 9-13-212) › Section 9-13-208 - Notice of director's approval for purchases or payments

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.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 13 - LOANS TO LOCAL SUBDIVISIONS IN EMERGENCIES (§§ 9-13-101 — 9-13-302) › Part 2 - EMERGENCY FINANCIAL AID TO LOCAL GOVERNMENTS (§§ 9-13-201 — 9-13-212) › Section 9-13-209 - Payment of costs - Administrative personnel

(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.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 13 - LOANS TO LOCAL SUBDIVISIONS IN EMERGENCIES (§§ 9-13-101 — 9-13-302) › Part 2 - EMERGENCY FINANCIAL AID TO LOCAL GOVERNMENTS (§§ 9-13-201 — 9-13-212) › Section 9-13-210 - Reports to legislative committees

The comptroller of the treasury shall report to the state funding board at the next meeting of the state funding board following any approval of note issuance pursuant to §
9-13-206
. The state funding board shall report to the finance, ways and means committees of the senate and the house of representatives whenever a loan guarantee is requested, and shall keep the committees advised whenever any subsequent action is taken.
Acts 1984, ch. 996, § 11; 1995, ch. 63, § 1; 2010, ch. 1117, § 4.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 13 - LOANS TO LOCAL SUBDIVISIONS IN EMERGENCIES (§§ 9-13-101 — 9-13-302) › Part 2 - EMERGENCY FINANCIAL AID TO LOCAL GOVERNMENTS (§§ 9-13-201 — 9-13-212) › Section 9-13-211 - Penalty for nonperformance

Any official or employee of the local government, or of any institution or agency thereof, who fails or refuses to perform the duties required of such official or employee by this part, or who fails or refuses otherwise to conform to this part, commits a Class C misdemeanor and is subject to fine and to removal from office or position in accordance with title 8, chapter 47.
Acts 1984, ch. 996, § 12; 1989, ch. 591, § 113; 1995, ch. 63, § 1.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 13 - LOANS TO LOCAL SUBDIVISIONS IN EMERGENCIES (§§ 9-13-101 — 9-13-302) › Part 2 - EMERGENCY FINANCIAL AID TO LOCAL GOVERNMENTS (§§ 9-13-201 — 9-13-212) › Section 9-13-212 - Issuance of notes - Guidelines - Use for operational expenses

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.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 13 - LOANS TO LOCAL SUBDIVISIONS IN EMERGENCIES (§§ 9-13-101 — 9-13-302) › Part 3 - FINANCIALLY DISTRESSED MUNICIPALITIES, COUNTIES, UTILITY DISTRICTS AND EDUCATION AGENCIES (§§ 9-13-301 — 9-13-302) › Section 9-13-301 - Short title

This part shall be known and may be cited as the "Financially Distressed Municipalities, Counties, Utility Districts and Education Agencies Act of 1993."
Acts 1993, ch. 76, § 1.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 13 - LOANS TO LOCAL SUBDIVISIONS IN EMERGENCIES (§§ 9-13-101 — 9-13-302) › Part 3 - FINANCIALLY DISTRESSED MUNICIPALITIES, COUNTIES, UTILITY DISTRICTS AND EDUCATION AGENCIES (§§ 9-13-301 — 9-13-302) › Section 9-13-302 - Duties of the comptroller of the treasury

The comptroller of the treasury shall develop and recommend statutory changes, policies, and procedures for the purpose of:
(1)
Promptly identifying financially distressed municipalities, counties, utility districts and education agencies;
(2)
Providing for the timely restructuring of the debt of such municipalities, counties, utility districts and education agencies;
(3)
Considering the need for temporary loans or other fiscal adjustments to prevent fiscal crisis; and
(4)
Providing for consolidation or merger of contiguous municipalities, counties, utility districts or education agencies, or for the merger of functions of such entities in order to relieve financial distress.
Acts 1993, ch. 76, § 2.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 14 - LOCAL ECONOMIC ADJUSTMENT ACT OF 1975 (§§ 9-14-101 — 9-14-108) › Section 9-14-101 - Short title

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.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 14 - LOCAL ECONOMIC ADJUSTMENT ACT OF 1975 (§§ 9-14-101 — 9-14-108) › Section 9-14-102 - Purpose

In order to promote the health, safety, right to gainful employment, economic opportunity and general welfare of the inhabitants of this state, the local governments (cities, towns and counties) are authorized to participate cooperatively with the state and federal governments in activities designed to alleviate or moderate existing or potential conditions of severe economic adjustment, resulting from termination or closure of major industries or firms, unemployment caused therefrom, and other hardships that would result in loss of the labor force, breakup of the family unit, and other conditions resulting from explosions, floods, earthquakes, or other major disasters, natural or man-made.
Acts 1975, ch. 312, § 2; T.C.A., § 9-1502.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 14 - LOCAL ECONOMIC ADJUSTMENT ACT OF 1975 (§§ 9-14-101 — 9-14-108) › Section 9-14-103 - Chapter definitions - Economic adjustment project

For the purposes of this chapter, unless the context otherwise requires:
(1)
"Cities," "towns" and "counties" mean those general government units that are political subdivisions of the state of Tennessee;
(2)
"Economic adjustment project" means those activities for which funds are available from local, state or federal sources and which include one (1) or more of the following objectives:
(A)
Plan, finance, construct, operate and maintain all types of public facilities, including publicly owned industrial parks;
(B)
Make commercial loans for business and industrial development;
(C)
Do economic development planning, including research and technical assistance studies related to accelerating the development process;
(D)
Provide public service jobs;
(E)
Provide rent supplements to families and individuals, including loans and grants;
(F)
Provide mortgage payment assistance to families and individuals, including loans and grants;
(G)
Provide for costs of relocation of families and individuals, including loans and grants;
(H)
Provide vocational and technical training in cooperation with the state's system of vocational and technical schools; and
(I)
Provide other appropriate assistance related to economic adjustment and the purposes of this chapter;
(3)
"Federal government" means the government of the United States and any agency, department, board or commission thereof performing or administering programs enacted by statute; and
(4)
"State" means the state of Tennessee, including all state agencies, departments, boards, commissions, and other bodies which carry out state functions and programs. "State" also includes development districts as created by title 13, chapter 14.
Acts 1975, ch. 312, § 3; T.C.A., § 9-1503.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 14 - LOCAL ECONOMIC ADJUSTMENT ACT OF 1975 (§§ 9-14-101 — 9-14-108) › Section 9-14-104 - Loans and grants authorized

(a)
Cities and counties are authorized to accept grants from the federal government to carry out economic adjustment projects. Cities and counties are also authorized to enter into contractual agreements with the federal government and with state government to accept grants and disburse or redistribute funds for purposes of economic adjustment projects, such disbursements to be in the form of grants and loans. No grant, however, shall be made to a private profit-making entity. Grants or loans can be made to a private or public nonprofit organization or association.
(b)
Loans for commercial and industrial development purposes shall be legally binding obligations and shall require interest payments and shall be consummated in accordance with applicable state and federal statutes and regulations. Commercial loans can be made only for legal purposes and subject to safeguards to protect the public interest, and can be made in conjunction with another commercial lender, a federal agency, and a state industrial development authority. Commercial loans made under this chapter can be first, second or third mortgage loans. The claim and right for principal repayment on second and third mortgage loans shall be secondary and subordinate to the first mortgage loan, except that repayment of principal and interest shall be made and prorated concurrently as agreed among the several lenders. In cases of foreclosure and acquisition of assets for liquidation or resale, the claim and right of the city or county shall be in a first, second or third mortgage position, as appropriate and as agreed to.
(c)
Loans made for public facilities, the repayment of which extends more than five (5) years, shall be in the form of municipal bonds, subject to the bond provisions and procedures spelled out by state enabling statutes for cities, counties and other political subdivisions. Loans made for less than five (5) years may be at a reduced interest cost, but not less than two percent (2%), simple interest.
Acts 1975, ch. 312, § 4; T.C.A., § 9-1504.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 14 - LOCAL ECONOMIC ADJUSTMENT ACT OF 1975 (§§ 9-14-101 — 9-14-108) › Section 9-14-105 - City and county economic adjustment departments

Cities and counties, singly or jointly by contract with each other or with state government, in initiating an economic adjustment project or program, shall create a department within the local government to carry out such projects or programs over a multi-year period. Such department shall be staffed by competent professionals, and headed by a director responsible to the local government as determined by ordinance, resolution or contract agreement.
Acts 1975, ch. 312, § 5; T.C.A., § 9-1505.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 14 - LOCAL ECONOMIC ADJUSTMENT ACT OF 1975 (§§ 9-14-101 — 9-14-108) › Section 9-14-106 - Funds

Cities and counties are specifically authorized to appropriate funds from local sources, from general funds available, and from any other source authorized by state law, to operate the department and otherwise manage an economic adjustment project as described in this chapter, including the provision of funds needed to match available state and federal funds for such purposes. Commercial loans made to individuals, private firms and corporations shall in no way extend the credit of cities and counties in behalf thereof; however, such loans can be made in behalf of the federal government and with use of federal funds granted for such purposes.
Acts 1975, ch. 312, § 6; T.C.A., § 9-1506.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 14 - LOCAL ECONOMIC ADJUSTMENT ACT OF 1975 (§§ 9-14-101 — 9-14-108) › Section 9-14-107 - Record of activities and finances

Appropriate financial and other records shall be kept on all transactions, which will show at all times activities planned, in progress and completed, the cost of each activity, the operational costs, and other such information as may be required to protect the public interest. An annual financial audit of the department shall be made by the comptroller of the treasury as provided by §
9-3-211
. All records shall be open for public inspection during regular working hours. All audits performed by the internal audit staff of the department shall be conducted in accordance with the standards established by the comptroller of the treasury pursuant to §
4-3-304(9)
.
Acts 1975, ch. 312, § 7; T.C.A., § 9-1507; Acts 1984, ch. 794, § 6.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 14 - LOCAL ECONOMIC ADJUSTMENT ACT OF 1975 (§§ 9-14-101 — 9-14-108) › Section 9-14-108 - Construction of chapter

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.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 16 - SPECIAL COUNTY CENSUS FOR ALLOCATION OF FUNDS (§ 9-16-101) › Section 9-16-101 - Special census by counties

For purposes of determining its eligibility in whole or part for an allocation of tax proceeds or other funds, each county may take not more than two (2) special censuses at its own expense at any time during the interim between the regular decennial federal censuses. The special census shall be taken by the federal census bureau or in a manner directed by and satisfactory to the department of economic and community development. The population of the county shall thereafter be revised in accordance with the special census, effective on July 1 following certification of the census results by the federal census bureau or department of economic and community development to the commissioner of finance and administration.
Acts 1978, ch. 806, § 1; T.C.A., § 9-1701; Acts 1995, ch. 501, § 7.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 18 - FINANCIAL INTEGRITY ACT OF 1983 (§§ 9-18-101 — 9-18-104) › Section 9-18-101 - Short title

This chapter shall be known and may be cited as the "Financial Integrity Act of 1983."
Acts 1983, ch. 129, § 1.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 18 - FINANCIAL INTEGRITY ACT OF 1983 (§§ 9-18-101 — 9-18-104) › Section 9-18-102 - Internal controls - Management assessment of risk

(a)
Each agency of state government and institution of higher education along with each county, municipal, and metropolitan government shall establish and maintain internal controls, which shall provide reasonable assurance that:
(1)
Obligations and costs are in compliance with applicable law;
(2)
Funds, property, and other assets are safeguarded against waste, loss, unauthorized use, or misappropriation; and
(3)
Revenues and expenditures are properly recorded and accounted for to permit the preparation of accurate and reliable financial and statistical reports and to maintain accountability over the assets.
(b)
To document compliance with the requirements set forth in subsection (a), each agency of state government and institution of higher education shall annually perform a management assessment of risk. The internal controls discussed in subsection (a) should be incorporated into this assessment. The objectives of the annual risk assessment are to provide reasonable assurance of the following:
(1)
Accountability for meeting program objectives;
(2)
Promoting operational efficiency and effectiveness;
(3)
Improving reliability of financial statements;
(4)
Strengthening compliance with laws, regulations, rules, and contracts and grant agreements; and
(5)
Reducing the risk of financial or other asset losses due to fraud, waste and abuse.
Amended by 2015 Tenn. Acts, ch. 112, s 1, eff. 6/30/2016.
Acts 1983, ch. 129, § 1; 1998, ch. 664, §§1, 2; 2008 , ch. 750, § 1.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 18 - FINANCIAL INTEGRITY ACT OF 1983 (§§ 9-18-101 — 9-18-104) › Section 9-18-103 - Guidelines for assessment of compliance

The commissioner of finance and administration, in consultation with the comptroller of the treasury, shall establish guidelines for the assessment, by management of state agencies and higher education institutions, of the risks and systems of internal control to determine compliance with the requirements of §
9-18-102
. The commissioner, in consultation with the comptroller of the treasury, may modify the guidelines from time to time as deemed necessary.
Acts 1983, ch. 129, § 1; 1998, ch. 664, §3; 2008 , ch. 750, § 2.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 18 - FINANCIAL INTEGRITY ACT OF 1983 (§§ 9-18-101 — 9-18-104) › Section 9-18-104 - Report by head of executive agency

(a)
By December 31, 2008, initially, and then by December 31 of every year thereafter, the head of each state agency and higher education institution shall, on the basis of the evaluations conducted in accordance with guidelines prescribed under §
9-18-103
, prepare and transmit to the commissioner of finance and administration and the comptroller of the treasury a report that states that:
(1)
The agency or institution acknowledges its management's responsibility for establishing, implementing and maintaining an adequate system of internal control; and
(2)
A management assessment of risk performed by the agency or institution provides or does not provide reasonable assurance of compliance with the objectives of the assessment as specified in this chapter.
(b)
In the event that the agency's or institution's assessment does not provide reasonable assurance of compliance with the objectives of the assessment as stated in this chapter, the report shall include a corrective action plan that identifies:
(1)
Any significant deficiencies or material weaknesses in the agency's or institution's system of internal control and/or lack of risk mitigating control activity; and
(2)
The plans and the schedule for correcting the weaknesses.
Acts 1983, ch. 129, § 1; 1998, ch. 664, §§4 - 6; 2008 , ch. 750, §3; 2009 , ch. 99, § 1.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 19 - REGISTRATION OF PUBLIC OBLIGATIONS (§§ 9-19-101 — 9-19-110) › Section 9-19-101 - Short title

This chapter may be known as the "Tennessee Public Obligations Registration Act."
Acts 1983, ch. 100, § 1.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 19 - REGISTRATION OF PUBLIC OBLIGATIONS (§§ 9-19-101 — 9-19-110) › Section 9-19-102 - Chapter definitions

As used in this chapter, unless the context otherwise requires:
(1)
"Book-entry form" means, with respect to public obligations, obligations that are not represented by an instrument but are evidenced and transferred on registration books maintained for that purpose by or on behalf of the issuer;
(2)
"Facsimile seal" means the reproduction by engraving, imprinting, stamping, or other means of the seal of the issuer, official or official body;
(3)
"Facsimile signature" means the reproduction by engraving, imprinting, stamping, or other means of the manual signature of an authorized officer;
(4)
"Financial intermediary" means a bank, broker, or clearing corporation or the nominee of any of them, or other person or nominee which in the ordinary course of its business maintains public obligation accounts for its customers, when so acting;
(5)
"Issuer" means any entity, department, or agency which under the laws of this state issues public obligations. "Issuer" may thus include the state of Tennessee, agencies of the state of Tennessee and all political subdivisions and public instrumentalities of the state of Tennessee, including, without limitation, cities, towns, metropolitan governments, counties, authorities, districts, and corporations or other public entities;
(6)
"Official" or "official body" means the officer or board that is empowered under the laws of this state to provide for original issuance of a public obligation of the issuer, by defining the obligation and its terms, conditions and other incidents, the successor or successors of any such official or official body, and such other person or group of persons as shall be assigned duties of such official or official body under applicable law from time to time;
(7)
"Official actions" means the actions by statute, order, ordinance, charter, resolution, contract, or other authorized means by which the issuer provides for issuance of a public obligation; and
(8)
"Public obligation" means an agreement of an issuer to pay principal and any interest thereon, whether in the form of a contract to repay borrowed money, a lease, an installment purchase agreement, or otherwise, and includes a share, participation, or other interest in any such agreement.
Acts 1983, ch. 100, § 2.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 19 - REGISTRATION OF PUBLIC OBLIGATIONS (§§ 9-19-101 — 9-19-110) › Section 9-19-103 - Authorization to issue public obligations

Notwithstanding any other law, issuers are hereby authorized to issue public obligations in fully registered form. Such obligations in fully registered form may, if permitted by the official action authorizing public obligations, be issued in book-entry form. If permitted by the official actions authorizing public obligations, obligations in fully registered form and in bearer form shall be exchangeable from time to time.
Acts 1983, ch. 100, § 3.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 19 - REGISTRATION OF PUBLIC OBLIGATIONS (§§ 9-19-101 — 9-19-110) › Section 9-19-104 - Registration agents - Paying agents

Any issuer of fully registered public obligations is authorized to appoint a registration agent or agents and paying agent or agents with respect to the issuance, exchange and transfer of such public obligations or to maintain records so that public obligations in book-entry form may be effected, with such duties as shall be determined by the issuer. Any such registration agent may be a bank, trust company, financial institution or other financial intermediary within or without this state, including the federal government or any of its agencies or instrumentalities. The state funding board is authorized to adopt such guidelines as it deems necessary relative to the qualifications that such bank, trust company, financial institution, or other financial intermediary must meet to qualify as a registration agent or paying agent for any fully registered public obligations to be issued by any issuer in Tennessee. Any issuer may act as its own registration agent and paying agent in accordance with such terms and conditions as may be established by the state funding board. Any issuer, including the state of Tennessee, may, upon approval by the state funding board, appoint the state of Tennessee, acting by and through the comptroller of the treasury, as registration agent and the state of Tennessee, acting by and through the state treasurer, as paying agent.
Acts 1983, ch. 100, § 4.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 19 - REGISTRATION OF PUBLIC OBLIGATIONS (§§ 9-19-101 — 9-19-110) › Section 9-19-105 - Records and books

(a)
The registration agent shall keep such books as shall be necessary in connection with the issuance, exchange and transfer of fully registered public obligations. Any issuer may provide that no such fully registered public obligation shall be valid for any purpose unless certified or authenticated by such registration agent, and if so provided, then such fully registered public obligation shall be valid only if so certified or authenticated by the manual signature of an officer of such registration agent.
(b)
The issuance and transference of a public obligation in book-entry form shall be effected by means of entries on the records of the registration agent which shall reflect the description of the issue, the principal amount, the interest rate, the maturity date, the owner of the public obligation and such other information as the issuer deems appropriate. If so permitted by the official actions authorizing public obligations, conversions may be effectuated between such obligations in book-entry form and registered public obligations evidenced by an instrument for owners of obligations who request such a change. The registration agent shall issue a confirmation of a book-entry transaction in the form of a written advice to the appropriate parties thereto. Such written advice shall confer no rights on the recipient, and shall be neither a negotiable instrument nor a security.
Acts 1983, ch. 100, § 5.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 19 - REGISTRATION OF PUBLIC OBLIGATIONS (§§ 9-19-101 — 9-19-110) › Section 9-19-106 - Signatures and seals

(a)
Notwithstanding any other law to the contrary, public obligations issued in registered form are not required to bear manual signatures of officials of the issuer if such public obligations bear facsimile signatures in lieu thereof, and are certified or authenticated with the manual signature of an officer of the registration agent, and if the use of such facsimile signatures and certification or authentication is provided for in the official actions of the official body authorizing such obligations.
(b)
In case any official of the issuer whose signature or facsimile signature appears on a public obligation shall cease to hold office before the delivery thereof to the initial purchasers or before any exchange or transfer between subsequent holders thereof, such signature or facsimile signature nevertheless shall be valid for all purposes the same as if such official had remained in office until after such delivery, exchange or transfer.
(c)
When a seal is required or permitted in the execution of any public obligation, the seal may be printed, engraved, stamped, or otherwise placed in facsimile thereon. The facsimile seal has the same legal effect as the impression of the seal.
(d)
Notwithstanding the foregoing, no signature or endorsement shall be required upon the original issuance or subsequent transfer of fully registered public obligations in the event that such obligations are issued in book-entry form.
Acts 1983, ch. 100, § 6.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 19 - REGISTRATION OF PUBLIC OBLIGATIONS (§§ 9-19-101 — 9-19-110) › Section 9-19-107 - Notice of redemption

In the event fully registered public obligations are subject to redemption by the terms thereof, the issuer may redeem one (1) or more of such obligations or portions thereof by giving the notice specified by the official actions authorizing such obligations or, in the event no provision for notice is therein specified, by mailing or directing the registration agent to mail, postage prepaid, not less than twenty-one (21) days prior to the date fixed for redemption, to the registered owners of such obligations which are to be redeemed at their last address appearing upon the registration books, a notice that the issuer is calling for redemption prior to maturity of such obligations in accordance with the terms thereof. Such notice shall specify the number, issue, date, date fixed for redemption, the date interest will cease to accrue, the redemption price and such further information with respect to such obligations as may be required by the terms thereof. Such notice may be waived by the registered owner of the public obligation subject to redemption.
Acts 1983, ch. 100, § 7.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 19 - REGISTRATION OF PUBLIC OBLIGATIONS (§§ 9-19-101 — 9-19-110) › Section 9-19-108 - Interest

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.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 19 - REGISTRATION OF PUBLIC OBLIGATIONS (§§ 9-19-101 — 9-19-110) › Section 9-19-109 - Confidentiality of owner's identity

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.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 19 - REGISTRATION OF PUBLIC OBLIGATIONS (§§ 9-19-101 — 9-19-110) › Section 9-19-110 - Construction of chapter

The powers conferred by this chapter are in addition and supplemental to the powers conferred by any other law and without regard to the provisions, requirements or restrictions of any other law. The provisions hereof are not in substitution for the powers conferred by any other law. In the event that the provisions hereof conflict with other provisions of general or special law or charter provisions, the provisions hereof shall be deemed to control.
Acts 1983, ch. 100, § 10.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 20 - TENNESSEE ALLOCATION PLAN FOR PRIVATE ACTIVITY BONDS (§§ 9-20-101 — 9-20-106) › Section 9-20-101 - Short title

This chapter shall be known as the "Tennessee Allocation Plan for Private Activity Bonds."
Acts 1985, ch. 237, § 1; 1987, ch. 57, § 1.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 20 - TENNESSEE ALLOCATION PLAN FOR PRIVATE ACTIVITY BONDS (§§ 9-20-101 — 9-20-106) › Section 9-20-102 - Legislative purpose - Reassignment of allocations

(a)
The purpose of this chapter is to provide a procedure for allocating the state's private activity bond authority among governmental units in the state having the authority to issue bonds under the Tax Reform Act of 1986.
(b)
Allocations to local governments may be reassigned for issuance to all boards and authorities authorized to issue bonds on behalf of governmental units.
Acts 1985, ch. 237, § 2; 1987, ch. 57, §§ 2-5.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 20 - TENNESSEE ALLOCATION PLAN FOR PRIVATE ACTIVITY BONDS (§§ 9-20-101 — 9-20-106) › Section 9-20-103 - Authority for allocating state's bond authority

There is hereby created in the department of economic and community development the authority for the commissioner, under this chapter, to allocate the state's bond authority among governmental units having authority to issue bonds.
Acts 1985, ch. 237, § 3.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 20 - TENNESSEE ALLOCATION PLAN FOR PRIVATE ACTIVITY BONDS (§§ 9-20-101 — 9-20-106) › Section 9-20-104 - Preparation, distribution and contents of allocation plans

The commissioner shall, prior to January 1 of each year, prepare and distribute an allocation plan for bonds that meets the following goals:
(1)
Provides equal access to the state bond authority for large cities, small towns and rural areas; and
(2)
Provides the most benefit to the state from the bond authority available to it.
Acts 1985, ch. 237, § 4.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 20 - TENNESSEE ALLOCATION PLAN FOR PRIVATE ACTIVITY BONDS (§§ 9-20-101 — 9-20-106) › Section 9-20-105 - Reports

(a)
Prior to January 31 of each year, the commissioner shall report to the general assembly on the administration of the bond allocation program. This report shall contain, but not be limited to, the following information about bond issues approved and disapproved:
(1)
Amount;
(2)
Purpose; and
(3)
Location.
(b)
The commissioner may include in this report any additional information that will assist the general assembly in evaluating the administration of the bond allocation program.
Acts 1985, ch. 237, § 5.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 20 - TENNESSEE ALLOCATION PLAN FOR PRIVATE ACTIVITY BONDS (§§ 9-20-101 — 9-20-106) › Section 9-20-106 - Administration of part

This chapter shall be administered under the Uniform Administrative Procedures Act, compiled in title 4, chapter 5.
Acts 1985, ch. 237, § 7.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 21 - LOCAL GOVERNMENT PUBLIC OBLIGATIONS ACT OF 1986 (§§ 9-21-101 — 9-21-1104) › Part 1 - GENERAL PROVISIONS APPLICABLE TO ALL BONDS AND NOTES ISSUED BY LOCAL GOVERNMENTS (§§ 9-21-101 — 9-21-134) › Section 9-21-101 - Short title

This chapter shall be known and may be cited as the "Local Government Public Obligations Act of 1986."
Acts 1986, ch. 770, § 1-1.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 21 - LOCAL GOVERNMENT PUBLIC OBLIGATIONS ACT OF 1986 (§§ 9-21-101 — 9-21-1104) › Part 1 - GENERAL PROVISIONS APPLICABLE TO ALL BONDS AND NOTES ISSUED BY LOCAL GOVERNMENTS (§§ 9-21-101 — 9-21-134) › Section 9-21-102 - Intent

It is the intent and purpose of this chapter to provide a uniform and comprehensive statutory framework authorizing any local government to issue general obligation bonds and revenue bonds for public works projects, general obligation bonds for certain unfunded pension obligations, general obligation refunding bonds, revenue refunding bonds, bond anticipation notes, capital outlay notes, grant anticipation notes, tax anticipation notes, and health care revenue anticipation notes, and to authorize the destruction of bonds, notes and coupons.
Acts 1986, ch. 770, § 1-2; 1997, ch. 390, § 1; 2000, ch. 983, § 9.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 21 - LOCAL GOVERNMENT PUBLIC OBLIGATIONS ACT OF 1986 (§§ 9-21-101 — 9-21-1104) › Part 1 - GENERAL PROVISIONS APPLICABLE TO ALL BONDS AND NOTES ISSUED BY LOCAL GOVERNMENTS (§§ 9-21-101 — 9-21-134) › Section 9-21-103 - No indebtedness limit

Bonds or notes may be issued under this chapter, notwithstanding and without regard to any limit on indebtedness provided by law.
Acts 1986, ch. 770, § 1-3.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 21 - LOCAL GOVERNMENT PUBLIC OBLIGATIONS ACT OF 1986 (§§ 9-21-101 — 9-21-1104) › Part 1 - GENERAL PROVISIONS APPLICABLE TO ALL BONDS AND NOTES ISSUED BY LOCAL GOVERNMENTS (§§ 9-21-101 — 9-21-134) › Section 9-21-104 - Negotiability

Any bonds or notes issued by a local government pursuant to this chapter shall be fully negotiable for all purposes in the absence of an express recital on the face of the bond or note that it is nonnegotiable.
Acts 1986, ch. 770, § 1-4.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 21 - LOCAL GOVERNMENT PUBLIC OBLIGATIONS ACT OF 1986 (§§ 9-21-101 — 9-21-1104) › Part 1 - GENERAL PROVISIONS APPLICABLE TO ALL BONDS AND NOTES ISSUED BY LOCAL GOVERNMENTS (§§ 9-21-101 — 9-21-134) › Section 9-21-106 - Rate discrimination prohibited

When a public works project supplies its services to consumers who use solar or wind powered equipment as a source of energy, that public works project shall not discriminate against those consumers by its rates, fees or charges or by altering the availability or quality of energy. Any consumer who uses solar, wind power, or other auxiliary source of energy shall install and operate the equipment, property, or appliance for such energy source in compliance with any state or local code or regulation applicable to the safe operation of such equipment, property or appliance.
Acts 1986, ch. 770, § 1-6.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 21 - LOCAL GOVERNMENT PUBLIC OBLIGATIONS ACT OF 1986 (§§ 9-21-101 — 9-21-1104) › Part 1 - GENERAL PROVISIONS APPLICABLE TO ALL BONDS AND NOTES ISSUED BY LOCAL GOVERNMENTS (§§ 9-21-101 — 9-21-134) › Section 9-21-108 - Governing body authorized to act by resolution - Procedure for adoption of resolutions

All actions required or authorized to be taken under this chapter by the governing body of a local government may be by resolution. The resolution may be adopted at the meeting, regular or special, of the governing body at which the resolution is introduced, and shall take effect immediately upon adoption. Except as otherwise provided in this chapter, no resolution under this chapter need be published or posted, nor shall any such resolution be subject to veto by the chief executive officer or presiding officer of the governing body, nor shall any such resolution require for its passage more than a majority vote of all the members of the governing body then in office. The resolution may delegate authority to the chief executive officer of the local government to sell notes or bonds under this chapter.
Acts 1986, ch. 770, § 1-8; 1994, ch. 806, § 6.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 21 - LOCAL GOVERNMENT PUBLIC OBLIGATIONS ACT OF 1986 (§§ 9-21-101 — 9-21-1104) › Part 1 - GENERAL PROVISIONS APPLICABLE TO ALL BONDS AND NOTES ISSUED BY LOCAL GOVERNMENTS (§§ 9-21-101 — 9-21-134) › Section 9-21-109 - Determination of costs of public works projects

In determining the costs of any public works project for which bonds or notes are to be issued, the following items may also be included as a part of the cost of the public works project to be financed by the issuance of bonds or notes:
(1)
Engineering, architectural, art design services, inspection, legal and accounting expenses, and relocation expenses in connection with construction of a public works project;
(2)
The cost of issuance of the bonds or notes, including engraving, printing, advertising, credit enhancement, legal, fiscal and other similar expenses;
(3)
Any interest costs during the period of construction of a public works project and for six (6) months thereafter on any money borrowed or estimated to be borrowed;
(4)
Any moneys already spent by the local government from any of its funds for any of the foregoing expenses enumerated in subdivisions (1), (2) and (3), and upon the actual construction of a public works project in order to permit the construction of public works projects by the use of the funds of the local government if desired, and the later replacement of those funds by the sale of bonds or notes authorized by this chapter; and
(5)
The establishing of a reasonably required reserved fund for the payment of the principal of and interest on the bonds or notes.
Acts 1986, ch. 770, § 1-9; 1988, ch. 743, § 1; 1998, ch. 751, § 2.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 21 - LOCAL GOVERNMENT PUBLIC OBLIGATIONS ACT OF 1986 (§§ 9-21-101 — 9-21-1104) › Part 1 - GENERAL PROVISIONS APPLICABLE TO ALL BONDS AND NOTES ISSUED BY LOCAL GOVERNMENTS (§§ 9-21-101 — 9-21-134) › Section 9-21-110 - Appointment of a fiscal agent

Any local government has the power in connection with the issuance of bonds or notes to appoint a fiscal agent, to provide for the powers, duties, functions and compensation of such fiscal agent, to limit the liabilities of the fiscal agent, to prescribe a method for the resignation, removal, merger or consolidation of the fiscal agent, the appointment of a successor fiscal agent, and the transfer of rights and properties to the successor fiscal agent.
Acts 1986, ch. 770, § 1-10.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 21 - LOCAL GOVERNMENT PUBLIC OBLIGATIONS ACT OF 1986 (§§ 9-21-101 — 9-21-1104) › Part 1 - GENERAL PROVISIONS APPLICABLE TO ALL BONDS AND NOTES ISSUED BY LOCAL GOVERNMENTS (§§ 9-21-101 — 9-21-134) › Section 9-21-111 - Execution of bonds and notes

(a)
Bonds and notes issued under this chapter in registered form shall be executed in the manner provided for in the Tennessee Public Obligations Registration Act, compiled in chapter 19 of this title.
(b)
Bonds, notes, and any interest coupons attached thereto issued under this chapter which are not in registered form may, if so authorized by the governing body of the local government, bear or be executed with the facsimile signature of the chief executive officer of the local government; provided, that each bond, or note, shall be manually signed by the county clerk, by the city recorder or other similar local government official so authorized by resolution of the governing body of the local government.
(c)
When an official or corporate seal of the local government, its governing body or of any local government official is required or permitted in the execution of any bond, note or coupon, the seal may be printed, engraved, stamped, or otherwise placed in facsimile thereon. The facsimile seal has the same legal effect as the impression of the seal.
(d)
In case any official whose signature or facsimile signature appears on the bonds, notes or coupons shall cease to be such official before the delivery of the bonds, notes, or coupons to the purchaser, that signature shall be valid and sufficient for all purposes, as if that official had remained in office until the delivery of the bonds, notes or coupons.
Acts 1986, ch. 770, § 1-11; 1987, ch. 77, § 3.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 21 - LOCAL GOVERNMENT PUBLIC OBLIGATIONS ACT OF 1986 (§§ 9-21-101 — 9-21-1104) › Part 1 - GENERAL PROVISIONS APPLICABLE TO ALL BONDS AND NOTES ISSUED BY LOCAL GOVERNMENTS (§§ 9-21-101 — 9-21-134) › Section 9-21-112 - Interim certificates

Pending the preparation or delivery of definitive bonds or notes under this chapter, interim certificates or other temporary obligations may be issued by the local government to the purchaser of the bonds or notes. The interim certificates or other temporary obligations shall be in such form and contain such terms, conditions and provisions as the governing body of the local government may determine.
Acts 1986, ch. 770, § 1-12.
2023 Tennessee Code › Title 9 - PUBLIC FINANCES (§§ 9-1-101 — 9-24-106) › Chapter 21 - LOCAL GOVERNMENT PUBLIC OBLIGATIONS ACT OF 1986 (§§ 9-21-101 — 9-21-1104) › Part 1 - GENERAL PROVISIONS APPLICABLE TO ALL BONDS AND NOTES ISSUED BY LOCAL GOVERNMENTS (§§ 9-21-101 — 9-21-134) › Section 9-21-113 - Deposit and custody of proceeds

(a)
The proceeds received from the sale of bonds or notes issued under this chapter by a local government shall be deposited with, in the case of counties, the county trustee or, in the case of municipalities or metropolitan governments, with the official designated by law as custodian of the funds, or be deposited as provided in the resolution authorizing the bonds or notes.
(b)
The official designated as custodian of the funds shall not receive extra compensation for handling the funds.
Acts 1986, ch. 770, § 1-13; 1987, ch. 77, § 4.