Tenn. Code Ann. § 6-54-117

All municipal corporations have the power and are authorized to purchase land and install therein roads and streets and water, sewer, electric and other utilities for the purpose of aiding in the construction and development therein of performance halls, auditoriums, theaters, or other entertainment facilities, and to issue their bonds or notes to finance in whole or in part the costs of such land and improvements, in accordance with and subject to the requirements of title 9, chapter 21, and title 13, chapter 16, and to exercise all the powers set forth therein as it relates to such construction and development.