The governing body of a local government acting by resolution is hereby authorized to issue and sell interest-bearing capital outlay notes for all purposes for which bonds can be legally authorized and issued by a local government for public works projects as defined in this chapter and for property valuation, tax assessment and tax equalization programs. The sale of all interest-bearing capital outlay notes shall first be approved by the comptroller of the treasury or the comptroller's designee.
Tenn. Code Ann. § 9-21-601
Authorization for the issuance of capital outlay notes
Known as the Local Government Public Obligations Act
The act spans §§ 9–9 (136 sections).
Acts 1986, ch. 770, § 6-1; 2010, ch. 868, § 52.
Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.