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.
Structure 2021 Tennessee Code
Chapter 21 - Local Government Public Obligations Act of 1986
§ 9-21-601. Authorization for the Issuance of Capital Outlay Notes
§ 9-21-603. Security for Capital Outlay Notes
§ 9-21-607. Method of Sale of Three-Year Capital Outlay Notes and Seven-Year Capital Outlay Notes
§ 9-21-608. Twelve-Year Capital Outlay Notes
§ 9-21-609. Method of Sale of Twelve-Year Capital Outlay Notes