§ 4-31-901. Short Title
This part shall be known and may be cited as the “Tennessee Local Development Authority Leaking Underground Storage Funding Act of 1997.”
§ 4-31-902. Legislative Findings
The general assembly finds and declares that the costs incurred in connection with reasonable and safe cleanup with respect to petroleum sites within the state, as provided in title 68, chapter 215, part 1, are extensive and threaten the state’s ability to meet its obligations with respect to the environment. It is accordingly in furtherance […]
§ 4-31-903. Bonds Authorized
For the purpose of providing moneys for deposit with the petroleum underground storage tank board, the authority, in addition to the powers otherwise created by law, has the power and is hereby authorized to issue from time to time negotiable bonds and notes of the authority in an amount not to exceed fifteen million dollars […]
§ 4-31-904. Authorization by Resolution — Payment
The bonds and notes shall be authorized by resolution of the authority, secured by the deposit of the assurance fee required under § 68-215-110, under such terms and conditions as deemed appropriate by the authority; provided, that such debt, including any renewals or extensions, shall not be outstanding longer than twenty (20) years or the […]