Title 4, State Government

(1) As used in this chapter, unless the context otherwise requires:(1) “Agricultural development loan program” means the authority's program of providing loans to lenders or purchasing loans from lenders for the purpose of making funds available for the financing of agricultural …

(a) There is hereby created a body, politic and corporate, to be known as the “Tennessee local development authority.” (b) The authority shall be a public agency and an instrumentality of the state and shall be deemed to be acting in all respects for the benefit of the people of …

(1) Except as otherwise limited by this chapter, the authority has the power to:(1) Sue and be sued;(2) Have a seal and alter the same at pleasure;(3) Make and execute contracts and all other instruments necessary or convenient for the exercise of its powers and functions under t…

(a) (1) (A) Whenever the authority is authorized by law to issue bonds or notes, the bonds and notes shall be authorized by resolution of the authority, may be in one (1) or more series, shall bear such date or dates, and shall mature at such time or times, in the case of any suc…

(a) In the event that the authority shall default in the payment of principal of or interest and premium, if any, on bonds or notes similarly secured after the same shall become due, whether at maturity or upon call for redemption, and such default shall continue for a period of …

(a) For the purpose of providing moneys to make program loans under the state loan programs or to retire general obligation bond anticipation notes of the state issued to provide interim financing for such program loans the authority, in addition to the powers otherwise granted b…

(a) The comptroller of the treasury shall file a certificate with the authority setting forth with respect to each local government unit that will receive a program loan:(1) The name of such local government unit;(2) The amount of such program loan;(3) That the loan program agree…

(a) For the purpose of providing moneys to assist small business concerns in financing pollution control facilities, the authority, in addition to the powers otherwise granted by law, has the power and is hereby authorized to issue from time to time negotiable bonds and notes of …

(a) Prior to the issuance of bonds or notes pursuant to § 4-31-109, the industrial development authority shall file with the authority a certificate to the effect that the pollution control facilities to be financed from the proceeds of such bonds or notes constitute pollution co…

(a) For the purposes of this part, the following definitions shall apply:(1) “Authority”, “construction”, and “education project” as defined in § 4-31-1003;(2) “Available local capital outlay funds” means, with respect to any LGU or LEA, the state share of the capital outlay port…

(1) Any program established by the authority pursuant to this part may include such provisions as may be agreed upon by the parties and shall additionally include, among other things, in substance, the following:(1) The structural requirements of the education debt issued by the …

(a) Each LGU issuing education debt, as well as any LEA for which education debt is issued, are authorized to assign or pledge for the further security of the education debt the available local capital outlay funds, whether such debt is issued pursuant to title 9, chapter 21, or …

The state does hereby covenant and agree with the holders of any bonds or notes issued under this chapter, that the state will not limit or alter the rights hereby vested in the authority to fulfill the terms of any agreements made with the holders thereof, or in any way impair t…

Whether or not the bonds or notes issued under this chapter are of such form and character as to be negotiable instruments under the negotiable instruments law, title 47, chapter 3, such bonds or notes shall be and hereby are made negotiable instruments within the meaning of and …

The state covenants with the purchasers and all subsequent holders and transferees of bonds and notes issued by the authority pursuant to this chapter, in consideration of the acceptance of and payment therefor, the bonds and notes of the authority issued pursuant to this chapter…

(a) The bonds and notes issued pursuant to this chapter shall be and are hereby declared to be legal and authorized investments for banks, savings banks, trust companies, building and loan associations, insurance companies, fiduciaries, trustees, guardians and for all public fund…

(a) The powers conferred by this chapter shall be in addition to the powers conferred by other laws, and the limitations imposed by this chapter shall not affect the powers conferred by any other law, general or special, and, except as provided herein, bonds and notes may be issu…

Expenses incurred by the authority in carrying out each of the programs authorized by this chapter may be made payable from funds made available to each program pursuant to this chapter, and no liability shall be incurred by the authority beyond the extent to which moneys shall h…

(a) (1) The authority shall, following the close of each fiscal year, submit an annual report of its activities for the preceding fiscal year to the governor and the speakers of each house of the general assembly.(2) The report shall set forth a separate and complete operating an…

(a) The authority may enter into loan agreements with any local government unit and any local government unit may enter into loan agreements with the authority for loans for acquisitions and improvement of facilities previously financed under part 7 of this chapter. (b) Any loan …

(a) The state delegates to the Tennessee local development authority the authority to allocate on behalf of the state the portion of the “national qualified energy conservation bond limitation,” as defined in § 54D of the Internal Revenue Code of 1986 (26 U.S.C. § 54D [repealed])…

For the purpose of ensuring that the bonds or notes authorized under this chapter and issued after March 8, 2016, maintain their tax-exempt status as may be provided by the Internal Revenue Code of 1986 (26 U.S.C.), as amended, no state officer or employee or user of a capital pr…

This part shall be known and may be cited as the “Tennessee Transportation State Infrastructure Fund Act.”

(1) As used in this part:(1) “Department of transportation” means the Tennessee department of transportation and its successors;(2) “Eligible costs” means, as applied to a qualified project to be financed with federal funds, the costs that are permitted under applicable federal l…

(a) The department of finance and administration shall establish the Tennessee transportation state infrastructure fund, in the state treasury, under the control of the authority. (b) For necessary and convenient administration of the fund, the authority shall establish accounts …

(a) The state treasurer shall transfer the balance from the existing fund for the Tennessee state infrastructure bank, administered by the department of transportation, on July 1, 2009, to the fund established in § 4-31-1203. (b) The following sources may be used to capitalize th…

(a) The commissioner of transportation shall review a proposed project and shall determine if it is an eligible project and, if so, whether or not to recommend the project to the authority. Preference may be given to eligible projects that have financial support in addition to an…

(a) This part is in addition and supplemental to any other law providing for the financing of eligible projects of qualified borrowers and shall not be deemed to amend or repeal any other law. (b) Qualified borrowers may enter into financing agreements under this part, notwithsta…

(a) If a qualified borrower fails to collect and remit in full all amounts due to the authority on the date the amounts are due under the terms of any note or other obligation of the qualified borrower, or if the qualified borrower fails to repay funds or pay damages in the event…

(a) Following the close of each state fiscal year, the authority shall submit an annual report of its activities for the preceding year to the governor, the speaker of the senate and the speaker of the house of representatives and make the report available to the general assembly…

The authority, in consultation with the department of transportation, is authorized to adopt policies and procedures to effectuate the purposes of this part.

This part shall be known and may be cited as the “Tennessee Agricultural Development Act.”

(a) The general assembly finds and declares that:(1) The high cost and limited availability of agricultural financing threatens to halt needed expansion or even perpetuation of many farm operations and related enterprises in Tennessee;(2) These conditions severely limit the abili…

(a) The authority may make, and undertake commitments to make, loans to or deposits with lenders under the agricultural development loan program for the financing of certain agricultural enterprises under terms and conditions that shall:(1) Require the proceeds thereof to be used…

(a) Prior to an exercise of powers conferred by § 4-31-203(b), the authority shall:(1) Require the lender to certify that the loan at the time of making was, is or will be in all respects a prudent investment;(2) Require the lender to certify that it would not have made the loan …

(a) For the purpose of providing moneys to assist lenders in providing moneys to finance agricultural enterprises, the authority, in addition to the powers otherwise granted by law, has the power and is hereby authorized to issue from time to time negotiable bonds and notes of th…

(a) It is unlawful for any person to knowingly make, utter or publish a false statement of substance or aid or abet another person in making, uttering or publishing a false statement of substance for the purpose of influencing the authority to make a loan or deposit to finance an…

This part shall be known and may be cited as the “Industrial Development Loan Program of 1981.”

There is hereby established the industrial development loan program, with the purpose of providing loans to small communities in order to finance public facilities that will support industrial development and generate manufacturing jobs in Tennessee.

(1) Participation in the program shall be limited to:(1) Local governments of less than twenty-five thousand (25,000) population, according to the latest certified census; and(2) County governments if the largest community within the county does not exceed fifty thousand (50,000)…

(a) Loans under this program shall be made only for projects that are designed to stimulate the growth of manufacturing jobs. (b) (1) The first priority for loans shall be projects that are related to an industrial location or expansion.(2) Second priority projects shall be those…

In order to ensure that as many communities as possible benefit from the program, individual loans shall not exceed two hundred fifty thousand dollars ($250,000).

The state funding board, in consultation with the Tennessee local development authority and the commissioner of economic and community development, is authorized to promulgate such rules as it deems necessary for the orderly and efficient administration of this part.

(a) Counties or municipalities meeting the requirements of § 4-31-303 are authorized to make application to the commissioner of economic and community development for a loan pursuant to this part. (b) (1) The commissioner shall review the application.(2) If, after making such rev…

The state funding board, in consultation with the authority, is authorized to approve such loan and allocate such funds as may be necessary to meet the requirements stipulated in such loan from moneys appropriated and legally available for such purpose.