§ 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 […]
§ 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 […]
§ 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 […]
§ 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.
§ 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.
§ 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 […]
§ 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 […]
§ 4-31-1001. Short Title
This part shall be known and may be cited as the “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 […]
§ 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, […]