§ 9-19-102. Chapter Definitions
As used in this chapter, unless the context otherwise requires: “Book-entry form” means, with respect to public obligations, obligations that are not represented by an instrument but are evidenced and transferred on registration books maintained for that purpose by or on behalf of the issuer; “Facsimile seal” means the reproduction by engraving, imprinting, stamping, or […]
§ 9-19-103. Authorization to Issue Public Obligations
Notwithstanding any other law, issuers are hereby authorized to issue public obligations in fully registered form. Such obligations in fully registered form may, if permitted by the official action authorizing public obligations, be issued in book-entry form. If permitted by the official actions authorizing public obligations, obligations in fully registered form and in bearer form […]
§ 9-14-101. Short Title
This chapter shall be known and may be cited as the “Local Economic Adjustment Act of 1975.”
§ 9-14-102. Purpose
In order to promote the health, safety, right to gainful employment, economic opportunity and general welfare of the inhabitants of this state, the local governments (cities, towns and counties) are authorized to participate cooperatively with the state and federal governments in activities designed to alleviate or moderate existing or potential conditions of severe economic adjustment, […]
§ 9-14-103. Chapter Definitions — Economic Adjustment Project
For the purposes of this chapter, unless the context otherwise requires: “Cities,” “towns” and “counties” mean those general government units that are political subdivisions of the state of Tennessee; “Economic adjustment project” means those activities for which funds are available from local, state or federal sources and which include one (1) or more of the […]
§ 9-14-104. Loans and Grants Authorized
Cities and counties are authorized to accept grants from the federal government to carry out economic adjustment projects. Cities and counties are also authorized to enter into contractual agreements with the federal government and with state government to accept grants and disburse or redistribute funds for purposes of economic adjustment projects, such disbursements to be […]
§ 9-14-105. City and County Economic Adjustment Departments
Cities and counties, singly or jointly by contract with each other or with state government, in initiating an economic adjustment project or program, shall create a department within the local government to carry out such projects or programs over a multi-year period. Such department shall be staffed by competent professionals, and headed by a director […]
§ 9-14-106. Funds
Cities and counties are specifically authorized to appropriate funds from local sources, from general funds available, and from any other source authorized by state law, to operate the department and otherwise manage an economic adjustment project as described in this chapter, including the provision of funds needed to match available state and federal funds for […]
§ 9-14-107. Record of Activities and Finances
Appropriate financial and other records shall be kept on all transactions, which will show at all times activities planned, in progress and completed, the cost of each activity, the operational costs, and other such information as may be required to protect the public interest. An annual financial audit of the department shall be made by […]
§ 9-14-108. Construction of Chapter
This chapter, being necessary for the welfare of the state and its inhabitants, shall be liberally construed so as to effectuate its purposes.