§ 7-34-116. Exemption From Taxation
So long as a municipality owns any public works, the property and revenue of such public works shall be exempt from all state, county and municipal taxation. Bonds and the income from bonds issued pursuant to this chapter shall be exempt from all state, county and municipal taxation, except inheritance, transfer and estate taxes.
§ 7-34-117. Exemption From Tennessee Public Utility Commission Jurisdiction
No requirements or provisions of this chapter shall be construed so as to deprive any municipality issuing bonds pursuant to this chapter of the exemption previously granted to municipalities from the jurisdiction of the Tennessee public utility commission.
§ 7-34-118. Supplemental Nature of Chapter
The powers conferred by this chapter shall be in addition and supplemental to, and the limitations imposed by this chapter shall not affect, the powers conferred by any other general, special or local law. Public works may be acquired, purchased, constructed, reconstructed, improved, bettered, and extended, and bonds may be issued under this chapter for […]
§ 7-34-113. Lien on Public Works Revenue
All bonds of the same issue shall, subject to the prior and superior rights of outstanding bonds, claims or obligations, have a prior and paramount lien on the revenue of the public works for which the bonds have been issued, over and ahead of all bonds of any issue payable from the revenue that may […]
§ 7-34-114. Rates Sufficient to Support Plant — Consumer Use of Auxiliary Energy Sources
The governing body of a municipality issuing bonds pursuant to this chapter shall prescribe and collect reasonable rates, fees or charges for the services, facilities and commodities of such public works, and shall revise such rates, fees or charges, from time to time, whenever necessary so that such public works shall be and always remain […]
§ 7-34-115. Operation of Utility Systems — Disposition of Revenue
Notwithstanding any other law to the contrary, as a matter of public policy, municipal utility systems shall be operated on sound business principles as self-sufficient entities. User charges, rates and fees shall reflect the actual cost of providing the services rendered. No public works shall operate for gain or profit or as a source of […]
§ 7-34-106. Exemption From Utilities Regulation
It is unnecessary for a municipality proceeding under this chapter to obtain a certificate of convenience or necessity, franchise, license, permit, or other authorization from a bureau, board, commission, or other like instrumentality of the state to acquire, construct, purchase, reconstruct, improve, extend, maintain, or operate public works, except as provided in § 68-221-1017.
§ 7-34-107. Deposit of Revenues
All moneys of a municipality derived from a public works shall be deposited in one (1) or more banks or trust companies in a special account or accounts.
§ 7-34-108. Charges to Municipality or Department
Charges shall be made for any service rendered by a public works to a municipality or to any department or works of the municipality, at the rate applicable to other customers taking service under similar conditions. Revenues derived from such service shall be treated as all other revenues.
§ 7-34-109. Authorized Projects — Bond Issues — Resolutions — Interim Certificates
The construction, acquisition, reconstruction, improvement, betterments or extension of any public works may be authorized under this chapter, and bonds may be authorized to be issued under this chapter to provide funds for such purpose or purposes by resolution or resolutions of the governing body, which may be adopted at the same meeting at which […]