§ 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, […]
§ 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 […]
§ 4-31-1005. Loan Agreements
Subject to any existing contractual obligations of the local government unit and the local education agency, the authority may enter into loan agreements with any local government unit and any local government unit may enter into loan agreements with the authority for loans for education projects described in this part. Any loan agreement may include […]
§ 4-31-813. Applicability
This part shall be in addition and supplemental to any other law providing for financing by the association and shall not be deemed to amend or repeal any other law. No proceedings by the association shall be required for loan agreements hereunder, except as provided by this part, any law to the contrary notwithstanding. Any […]
§ 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.”
§ 4-31-803. Part Definitions
As used in this part, unless the context otherwise requires: “Association” means the Tennessee insurance guaranty association; “Bonds” means all bonds, notes or other obligations issued by the authority under this part; “Claim” or “claims” means a covered claim as defined in § 56-12-104, to be paid from the issuance of bonds under this part […]
§ 4-31-804. Issuance of Bonds — Limitations on Bond Amounts — Source of Funds
The authority may issue bonds in an amount not to exceed the ability of the association to repay the bond indebtedness from assessments assessed pursuant to §§ 56-12-103(3) and 56-12-107(b)(3), with the proceeds of such bond issuance to fund a loan to the association in accordance with the provisions of the bond documents under which […]
§ 4-31-805. Review by Commissioner of Commerce and Insurance
Prior to the issuance of bonds to pay covered claims in the event of an insolvency, the commissioner of commerce and insurance shall recommend the amount of unpaid covered claims to be paid from the bond issuance. In making its recommendation, the commissioner shall review whether the amount of assessments proposed by the association could […]
§ 4-31-806. Negotiable Bonds and Notes
For the purpose of providing moneys to fund loans authorized by this part, 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 accordance with the following terms: The authority shall establish a […]