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 bond proceeds or state appropriations available for loans to counties for the purchase of equipment for the use of the county or volunteer fire departments serving unincorporated areas of the county, in order to provide equipment to public safety officers in an effort to protect the citizens of Tennessee, result in improvements in fire ratings, and reduce fire insurance premiums.