§ 4-31-414. Actions of Governing Body by Resolution
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.
§ 4-31-415. Provisions Supplemental
This part shall be in addition and supplemental to any other law providing for the financing of capital projects by local government units and shall not be deemed to amend or repeal any other law. No proceedings by a local government unit shall be required for loan agreements hereunder, except as provided by this part, […]
§ 4-31-501. Short Title
This part shall be known and may be cited as the “Tennessee Local Development Authority Rural Fire Protection Equipment Act of 1986.”
§ 4-31-502. Intent
It is in the interest and welfare of the people of Tennessee that the Tennessee local development authority be empowered to issue its revenue bonds, and to make the proceeds available for loans to counties for the purchase of equipment for the use of county or volunteer fire departments serving unincorporated areas of the county, […]
§ 4-31-503. Part Definitions
As used in this part, unless the context otherwise requires: “Equipment” means fire engines, ladders, hooks, hoses and all other equipment necessary for the containing and extinguishing of fires; and “Loan agreement” means a contractual arrangement by and between a county and the authority pursuant to and in accordance with this part.
§ 4-31-504. Loans for the Purchase of Equipment for the Use of County or Volunteer Fire Departments by Counties Receiving State-Shared Taxes — Schedule of Payments
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 an amount not to exceed ten million dollars ($10,000,000) in […]
§ 4-31-407. Further Agreements and Guarantees
The authority has the right to enter into such further agreements with a local government unit and require such further guarantees or securities as it may see fit prior to, or simultaneously with, the issuance of bonds or to refuse to issue bonds until such agreements or securities, in any form that the authority may […]
§ 4-31-408. Preparation and Approval of Agreements — Approval of Funding — Payments Subject to Audit
The authority shall prepare, and the attorney general and reporter shall approve, a form of loan agreement to be used to evidence loans made to local government units pursuant to this part. All loan agreements entered into pursuant to this part shall be subject to approval by the commissioner of finance and administration as to […]
§ 4-31-409. Allocation of Funds — Criteria
In allocating loan funds to local government units, the authority shall give consideration to, and apply, the following standards and criteria: The need and desirability for capital projects; and The ability of the local government unit to secure borrowed money from other sources and costs thereof.
§ 4-31-308. Loans — Approval — Fund Allocation
The state funding board, in consultation with the authority, is authorized to approve such loan and allocate such funds as may be necessary to meet the requirements stipulated in such loan from moneys appropriated and legally available for such purpose.