§ 68-221-517. Provisions Supplemental
This part is in addition and supplemental to any other law providing for the financing of waterworks of municipalities, and shall not be deemed to amend or repeal any other law. No proceedings by a municipality shall be required for loan agreements hereunder except such as are provided by this part, notwithstanding any provision of […]
§ 68-221-518. Powers of Tennessee Public Utility Commission Unaffected
Nothing in this part shall be construed as impairing the powers and duties of the Tennessee public utility commission with respect to special districts empowered to provide water services.
§ 68-221-519. Loans Made Retroactively
To the extent that a loan is made retroactively under this part for an eligible project that has been financed by other funds, such loan may be used by a municipality for any municipal water purpose.
§ 68-221-601. Short Title
This part shall be known and may be cited as the “Water and Wastewater Treatment Authority Act.”
§ 68-221-602. Authorities Created as Public and Governmental Bodies — Property and Revenue Exempt From Taxes
It is declared that water and wastewater treatment authorities created pursuant to this part shall be public and governmental bodies acting as agencies and instrumentalities of the creating and participating governmental entities; and that the acquisition, operation and finance of water and wastewater treatment works by such authorities is declared to be for a public […]
§ 68-221-603. Part Definitions
As used in this part, unless the context otherwise requires: “Authority” means a water and wastewater treatment authority created pursuant to this part; “Board” means the board of commissioners of an authority; “Bonds” includes notes, interim certificates or other obligations of an authority; “Creating governmental entity” means any city, metropolitan government or county which creates […]
§ 68-221-604. Creation of Authority — Resolution — Petition — Order of Approval or Disapproval — Hearing — Resolution or Ordinance — Agreement for Transfer
A city, metropolitan, or county government may create a water or wastewater treatment authority in the manner provided in this part. The governing body of the creating governmental entity shall adopt, and its executive officer shall approve, a resolution to submit a petition to the water and wastewater financing board for review and approval. The […]
§ 68-221-511. Payments Made to Authority — Special Trust Funds
Each municipality having entered into a loan agreement shall remit to the authority such amounts and at such times as shown in the amortization schedule established by the authority. Such funds shall be placed in a special trust fund of the authority created to provide for the payment of principal of, and interest on, bonds […]
§ 68-221-512. Tax Levy to Meet Payments
In the event the revenues of a waterworks project are insufficient to meet the payments as established by the authority, any county, metropolitan government, incorporated town or city may levy a tax on property sufficient to make such payments, which shall be in addition to all other taxes authorized or limited by law.
§ 68-221-513. Failure of Municipality to Comply With Payment Schedule — Withholding of State Funds — Rate Increases
In the event any municipality, having entered into a loan agreement, shall fail to remit funds in accordance with the amortization schedule established by the authority, the commissioner of finance and administration shall deliver by certified mail a written notice of such failure to the municipality within five (5) days of the failure. In the […]