Title 7, Consolidated Governments and Local Governmental Functions and Entities

Whenever any number of natural persons, not less than three (3), each of whom shall be a duly qualified elector of and taxpayer in the municipality, files with the governing body of the municipality an application in writing seeking permission to apply for the incorporation of an…

(a) The certificate of incorporation shall set forth:(1) The names and residences of the applicants, together with a recital that each of them is an elector of and taxpayer in the municipality;(2) The name of the corporation, which shall be The Industrial Development Board of the…

When executed and acknowledged in conformity with § 7-53-202, the certificate of incorporation shall be filed with the secretary of state. The secretary of state shall then examine the certificate of incorporation and, if the secretary of state finds that the recitals contained i…

The certificate of incorporation may at any time and from time to time be amended so as to make any changes in the certificate of incorporation and add any provisions to the certificate of incorporation that might have been included in the certificate of incorporation in the firs…

(a) The corporation shall have a board of directors in which all powers of the corporation shall be vested and which shall consist of any number, not less than seven (7). The directors shall serve as such without compensation, except that they shall be reimbursed for their actual…

(a) The corporation has the following powers, together with all powers incidental to such powers or necessary for the performance of those powers, to:(1) Have succession by its corporate name for the period specified in the certificate of incorporation, unless sooner dissolved;(2…

(a) Except as otherwise expressly provided in this chapter, all bonds issued by the corporation shall be payable solely out of the revenues and receipts derived from the corporation's projects or of any of the projects as may be designated in the proceedings of the board of direc…

(a) The principal of and interest on any bonds issued by the corporation shall be secured by a pledge of the revenues and receipts out of which the bonds shall be made payable, and may be secured by a mortgage or deed of trust covering all or any part of the projects from which t…

(a) (1) The corporation is hereby declared to be performing a public function in behalf of the municipality with respect to which the corporation is organized and to be a public instrumentality of such municipality. Accordingly, the corporation and all properties at any time owne…

(1) The municipality shall not, in any event, be liable for the payment of the principal of or interest on any bonds of the corporation, or for the performance of any pledge, mortgage, obligation or agreement of any kind whatsoever that may be undertaken by the corporation, and n…

(a) The building finance committee in the industrial development division of the department of economic and community development is hereby authorized and empowered to determine whether any municipality shall have the right to pledge the full faith and credit of the municipality …

(a) The corporation shall be a nonprofit corporation and no part of its net earnings remaining after payment of its expenses shall inure to the benefit of any individual, firm or corporation, except that in the event the board of directors of the corporation shall determine that …

Bonds issued under the authority of this chapter and secured by a pledge of full faith and credit shall be and are hereby declared to be legal and authorized investments for banks, savings banks, trust companies, savings and loan associations, insurance companies, fiduciaries, tr…

Any municipality may acquire a project site by gift, purchase, lease, or condemnation, and may transfer any project site to a corporation by sale, lease, or gift. Such transfer may be authorized by a resolution of the governing body of the municipality without submission of the q…

Any city, county or metropolitan government is authorized to enter into any lease or lease-purchase agreement of a project from a corporation, for such term or terms and upon such conditions as may be determined by the governing body of such city, county or metropolitan governmen…

(a) The corporation is authorized to prepare and submit to the municipality for approval an economic impact plan in the manner described in this section. (b) An economic impact plan shall be a written document and shall specifically identify the area to be included in the plan. T…

(a) The corporation is authorized to prepare and submit to the governing body of the municipality for approval an economic impact plan in the manner described in this section. (b) An economic impact plan shall be a written document and shall specifically identify the area to be i…

Notwithstanding §§ 7-53-306 and 7-53-307, in any municipality in which there has been created a central business improvement district pursuant to chapter 84 of this title, the municipality is authorized to aid or otherwise provide assistance, including without limitation, grantin…

(a) It is the intent of the general assembly to encourage the redevelopment of brownfield sites in this state. Such redevelopment may include a solar power facility, as defined by § 66-9-207(a)(5)(A). In addition to the authorization provided in § 7-53-312, a corporation located …

(a) As used in this section:(1) “Local government” means any home rule municipality; and(2) “Remediation site” means a site containing at least one thousand three hundred (1,300) acres that have been held by the United States department of energy due to an extended period of envi…

(a) As used in this section:(1) “Housing opportunity county” means a county with acute needs for additional housing to support the expected growth in population due to the undertaking of one (1) or more economic development projects, whether located in the county or surrounding a…

(a) As used in this section:(1) “Locally owned business” means a commercial business entity formed or conducting a majority of business operations within the jurisdiction of a local government. A commercial entity does not qualify as a locally owned business subject to this chapt…

(a) Notwithstanding §§ 7-53-306 and 7-53-307, a municipality may aid or otherwise provide assistance to a corporation, including, without limitation, by granting, contributing, or pledging to or for the benefit of the corporation revenues derived from any source except revenues d…

(1) As used in this chapter, unless the context otherwise requires:(1) “Construct” or “construction” means the erection, building, acquisition by purchase or condemnation, alteration, reconstruction, improvement, or extension of energy production facilities, the engineering, arch…

A municipality has the power to construct, own, operate, or maintain within its corporate limits or within the limits of the county wherein it is located, an existing or planned energy production facility or facilities. The construction of such facility or facilities may include …

(a) The municipality shall charge for the production of any energy for such heating, cooling or processing and may combine it with any other energy produced. In no case shall the rates charged to electric or other power utility subscribers not receiving energy from the energy pro…

(a) Any municipality wishing to bring itself under any one (1) or more of the provisions of this chapter may do so by resolution or ordinance of the governing body of such municipality. Such action may be taken during any stage of the construction, acquisition, development or fin…

(a) In addition to the powers granted to municipalities under any other provision of this chapter and any other law, either general, special or local, a municipality other than a power district has the power to:(1) Enter into loan agreements with any person or persons providing f…

(a) Any municipality may, from time to time, issue its bonds under this section in such principal amounts as it deems necessary to provide sufficient funds to carry out any of the purposes of this chapter, including the establishment or increase of reserves, interest accrued duri…

(1) All contracts for the construction, operation or maintenance of an energy production facility and all contracts authorized by § 7-54-105(a)(3) shall be exempted from any applicable competitive bidding laws of this state that shall be applicable to a municipality, and such ord…

(a) In the event that the issuance of any series of bonds or the entering into of any contract by a municipality, other than a power district, pursuant to this chapter, would constitute the giving or loaning of the credit of such municipality to or in aid of any person, company, …

This chapter shall be in addition and supplemental to any other law providing for energy facilities and shall not be deemed to amend or repeal any other law.

(a) Any municipality, as defined in § 7-54-101, and any county that, as a part of the construction, financing, operation or maintenance of an energy production facility, or of an energy recovery facility or resource recovery facility as defined in § 68-211-501, or of a solid wast…

Any not-for-profit corporation authorized by the laws of Tennessee to act for the benefit or on behalf of any one (1) or more counties, cities and towns pursuant to this chapter is authorized to participate in applicable approved local, joint or regional solid waste recovery disp…

The members of the board of directors of a not-for-profit corporation when acting pursuant to this chapter or chapter 58 of this title are deemed to be within title 12, chapter 4, part 1, relative to conflicts of interest, and the meetings of such board shall be subject to title …

(a) Notwithstanding any other law or charter to the contrary, the board of directors of any not-for-profit corporation acting for the benefit or on behalf of any one (1) or more counties, cities, towns or governmental entities pursuant to this chapter or chapter 58 of this title …

No member of the board of directors of a not-for-profit corporation acting for the benefit or on behalf of any one (1) or more of counties, cities, towns, and local governments under this chapter may, during such member's term, be an employee of such corporation.

This chapter shall be known and may be cited as the “Industrial Building Bond Act of 1955.”

(1) As used in this chapter, unless the context otherwise requires:(1) “Enterprise” means the industrial operation or operations to be carried on in an industrial building;(2) “Governing body” includes bodies and boards, by whatsoever names they may be known, charged with the gov…

(1) In addition to powers that it may otherwise have in its charter or the laws of this state, any municipality has the power under this chapter, subject to the conditions, limitations and restrictions provided in this chapter, to:(1) Construct, acquire by gift or purchase, recon…

The construction, acquisition, reconstruction, improvement, betterment, or extension of any industrial buildings 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 or for the refunding of…

(a) The building finance committee in the industrial development division of the department of economic and community development is charged with the duty of making effective the declared public policy of the state and municipalities as set forth in this chapter, and for that pur…

(a) The committee shall investigate, find and determine upon application of any municipality for a certificate of public purpose and necessity, as to whether a certificate shall be issued to such municipality to engage in any of the enterprises deemed essential under declared pub…

The governing body of any municipality desiring to enter into the plan authorized in this chapter, after receiving a certificate of public purpose and necessity from the committee, as provided by this chapter, by resolutions spread upon its minutes, shall declare its intention of…

(a) Any resolution authorizing the issuance of bonds under this chapter may contain covenants as to the:(1) Use and disposition of the rentals from the industrial building for which the bonds are to be issued, including the creation and maintenance of reserves;(2) Issuance of oth…

Bonds bearing the signatures of officers in office on the date of the signing of the bonds shall be valid and binding obligations, notwithstanding that before the delivery of the bonds and payment for the bonds, any or all the persons whose signatures appear on the bonds shall ha…