Title 9, Public Finances

(1) As used in this part, unless the context otherwise requires:(1) “Emergency technical assistance” means direction, oversight, management, and approval of all financial dealings and transactions of a local government by the comptroller of the treasury or the comptroller's desig…

(1) In order to provide emergency technical and financial assistance to a local government, the state funding board is authorized to guarantee the payment of a loan made to a local government by another lender only under the following conditions:(1) A majority of all members cons…

The state funding board shall establish the terms and conditions of loan guarantees to local governments and may require such guarantees or security as it deems necessary to adequately secure the loans. The local government shall pledge the full faith and credit of the local gove…

(1) Notwithstanding another law to the contrary, the governing body of a local government may issue notes that mature beyond the close of the fiscal year in which such notes are issued when such notes are:(1) Approved by the comptroller of the treasury or the comptroller's design…

(a) Whenever a loan is guaranteed by the state funding board, the comptroller of the treasury or the comptroller's designee shall, subject to the comptroller of the treasury's or the comptroller's designee's discretion, provide emergency technical assistance to such local governm…

The state funding board shall publish a notice, in a newspaper of general circulation in any local government which is receiving emergency technical assistance pursuant to this part, that no purchase of or payment for goods, services or equipment or other matters shall be made by…

(a) When a local government is granted a loan guarantee, any costs as determined and approved by the state funding board which are associated with providing the loan guarantee or technical assistance, including, but not limited to, the services of the comptroller of the treasury …

The comptroller of the treasury shall report to the state funding board at the next meeting of the state funding board following any approval of note issuance pursuant to § 9-13-206. The state funding board shall report to the finance, ways and means committees of the senate and …

Any official or employee of the local government, or of any institution or agency thereof, who fails or refuses to perform the duties required of such official or employee by this part, or who fails or refuses otherwise to conform to this part, commits a Class C misdemeanor and i…

Notes issued pursuant to this part shall be issued in the manner provided by chapter 21, parts 1, 4, 6, and 8 of this title. Notwithstanding any other law to the contrary, any notes issued pursuant to this part may be used for operational expenses and extend past the current fisc…

This part shall be known and may be cited as the “Financially Distressed Municipalities, Counties, Utility Districts and Education Agencies Act of 1993.”

(1) The comptroller of the treasury shall develop and recommend statutory changes, policies, and procedures for the purpose of:(1) Promptly identifying financially distressed municipalities, counties, utility districts and education agencies;(2) Providing for the timely restructu…

This chapter shall be known and may be cited as the “Local Economic Adjustment Act of 1975.”

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…

(1) For the purposes of this chapter, unless the context otherwise requires:(1) “Cities,” “towns” and “counties” mean those general government units that are political subdivisions of the state of Tennessee;(2) “Economic adjustment project” means those activities for which funds …

(a) 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 d…

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 depart…

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, in…

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. A…

This chapter, being necessary for the welfare of the state and its inhabitants, shall be liberally construed so as to effectuate its purposes.

For purposes of determining its eligibility in whole or part for an allocation of tax proceeds or other funds, each county may take not more than two (2) special censuses at its own expense at any time during the interim between the regular decennial federal censuses. The special…

This chapter shall be known and may be cited as the “Financial Integrity Act of 1983.”

(a) Each agency of state government and institution of higher education along with each county, municipal, and metropolitan government shall establish and maintain internal controls, which shall provide reasonable assurance that:(1) Obligations and costs are in compliance with ap…

The commissioner of finance and administration, in consultation with the comptroller of the treasury, shall establish guidelines for the assessment, by management of state agencies and higher education institutions, of the risks and systems of internal control to determine compli…

(a) By December 31, 2008, initially, and then by December 31 of every year thereafter, the head of each state agency and higher education institution shall, on the basis of the evaluations conducted in accordance with guidelines prescribed under § 9-18-103, prepare and transmit t…

This chapter may be known as the “Tennessee Public Obligations Registration Act.”

(1) As used in this chapter, unless the context otherwise requires:(1) “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 b…

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 …

Any issuer of fully registered public obligations is authorized to appoint a registration agent or agents and paying agent or agents with respect to the issuance, exchange and transfer of such public obligations or to maintain records so that public obligations in book-entry form…

(a) The registration agent shall keep such books as shall be necessary in connection with the issuance, exchange and transfer of fully registered public obligations. Any issuer may provide that no such fully registered public obligation shall be valid for any purpose unless certi…

(a) Notwithstanding any other law to the contrary, public obligations issued in registered form are not required to bear manual signatures of officials of the issuer if such public obligations bear facsimile signatures in lieu thereof, and are certified or authenticated with the …

In the event fully registered public obligations are subject to redemption by the terms thereof, the issuer may redeem one (1) or more of such obligations or portions thereof by giving the notice specified by the official actions authorizing such obligations or, in the event no p…

Interest on fully registered public obligations shall be payable on such dates as shall be specified in the official actions authorizing such obligations to the record owners of such obligations as of such record dates as shall be specified in the official actions.

The identity of any owner of, or any other information by or from which may be determined the identity of any owner of, any public obligation issued by any issuer shall be treated as confidential and not open to public inspection. The confidentiality herein established shall not …

The powers conferred by this chapter are in addition and supplemental to the powers conferred by any other law and without regard to the provisions, requirements or restrictions of any other law. The provisions hereof are not in substitution for the powers conferred by any other …

This chapter shall be known as the “Tennessee Allocation Plan for Private Activity Bonds.”

(a) The purpose of this chapter is to provide a procedure for allocating the state's private activity bond authority among governmental units in the state having the authority to issue bonds under the Tax Reform Act of 1986. (b) Allocations to local governments may be reassigned …

There is hereby created in the department of economic and community development the authority for the commissioner, under this chapter, to allocate the state's bond authority among governmental units having authority to issue bonds.

(1) The commissioner shall, prior to January 1 of each year, prepare and distribute an allocation plan for bonds that meets the following goals:(1) Provides equal access to the state bond authority for large cities, small towns and rural areas; and(2) Provides the most benefit to…

(a) Prior to January 31 of each year, the commissioner shall report to the general assembly on the administration of the bond allocation program. This report shall contain, but not be limited to, the following information about bond issues approved and disapproved:(1) Amount;(2) …

This chapter shall be administered under the Uniform Administrative Procedures Act, compiled in title 4, chapter 5.

(a) Any local government has the power and is authorized to issue by resolution revenue refunding bonds to refinance outstanding obligations heretofore or hereafter issued or lawfully assumed by the local government which are payable solely from all or any part of the revenues of…

A determination by the governing body that any refunding is advantageous or necessary to the local government, or that any of the amounts provided in § 9-21-1004 should be included in such refunding, or that any of the outstanding obligations should be called for redemption on th…

(a) Prior to the adoption by the governing body of the resolution authorizing the issuance of revenue refunding bonds, a plan of refunding shall be submitted for review to the comptroller of the treasury or the comptroller's designee, who shall immediately acknowledge receipt in …

(1) The principal amount of any issue of revenue refunding bonds shall not exceed the sum of the following:(1) The principal amount of the outstanding obligations being refinanced;(2) The redemption premium, if any, thereon;(3) Unpaid interest on the outstanding obligations being…

All revenue refunding bonds issued by any local government under the authority of this part and part 1 of this chapter shall be sold for not less than ninety-seven percent (97%) of par value and accrued interest as the governing body of the local government may direct. Nothing in…