§ 64-10-221. Authority Deemed a Local Government Unit
For the purposes of this part and title 4, chapter 31, the authority shall be deemed to be a local government unit and shall be eligible for the same grants, loans, and other assistance, and subject to the same obligations and requirements imposed by law related to such grants, loans, and assistance as any other […]
§ 64-10-222. Construction of Part
This part is remedial in nature and shall be liberally construed to effect its purpose and the powers granted in this part may be exercised without regard to requirements, restrictions or procedural provisions contained in any other law or charter except as expressly provided in this part.
§ 64-11-101. Filing — Audit by the Comptroller
All entities created under this title must file an annual financial audit with the comptroller of the treasury, and are subject to audit by the comptroller.
§ 64-10-210. Member Counties—powers
The counties that are members of the authority are hereby authorized and empowered to: Appropriate sufficient funds for the use of the authority amounts of money that their respective governing bodies, acting in their sole discretion, shall approve to be paid from the general fund of the respective county. County legislative bodies are empowered to […]
§ 64-10-211. Receipt of Grants, Appropriations and Other Contributions
In addition to § 64-10-210, the authority may receive grants, appropriations, other contributions of funds, and real or personal property, from the state of Tennessee, the federal government, any other governmental entity or any nonprofit organization, individuals, companies, or corporations.
§ 64-10-212. Conduct of Financial Affairs — Fiscal Agent
The financial affairs of the authority shall be conducted in accordance with state law and the procedures established by the comptroller of the treasury. The board may establish such bank accounts for the authority as the board deems appropriate and consistent with state law. The authority is authorized to invest any funds of the authority […]
§ 64-10-213. Annual Audit
The board of directors of the authority shall cause an annual audit to be made of the books and records of the authority, including, but not limited to, the function of the pilot program established to support existing small business incubators in the region and to establish new small business incubators in accordance with § […]
§ 64-10-215. County Membership
Any county in the eastern grand division not a member of the authority may become a member by: Notifying the board of its desire to become a member; Adopting a resolution by a two-thirds (2/3) vote of the county legislative body; and Contributing funds in an amount to be determined by the board, which shall […]
§ 64-10-216. Annual Reports
The board of directors of the authority shall report annually to the governing bodies of the various counties of the area. Such reports shall include a summary of all activities and accomplishments for the period, a copy of the annual audit prepared in accordance with § 64-10-213, and the proposed plans for the next year.
§ 64-10-217. Dissolution of the Corporation — Distribution of Assets
Upon the dissolution of the corporation, after all creditors of the corporation have been paid, its assets shall be distributed to one (1) or more organizations that qualify as exempt organizations under § 501(c)(3) of the Internal Revenue Code of 1986, or corresponding section of any future federal tax code, or shall be distributed to […]