Any municipality is authorized to enter into, with any contracting party or parties, contracts, leases or lease-purchase agreements with respect to capital improvement property for terms not to exceed forty (40) years or the useful life of the subject capital improvement property, whichever is less.
Structure 2021 Tennessee Code
Title 7 - Consolidated Governments and Local Governmental Functions and Entities
Chapter 51 - Miscellaneous Governmental and Proprietary Functions
Part 9 - Contracts, Leases and Lease-Purchase Agreements
§ 7-51-902. Capital Improvement Property
§ 7-51-903. Long-Term Contracts
§ 7-51-906. Proprietary Contracts Unaffected
§ 7-51-907. Sewage Treatment Works and Public Water Systems
§ 7-51-908. Contracts Concerning Education
§ 7-51-909. Tax Exemption for Capital Improvement Property
§ 7-51-910. Contracts for Purchase of Natural Gas, Propane Gas or Electric Power
§ 7-51-911. Contracts for Purchase of Gasoline and Diesel Fuel