Cash in the hands of the state funding board not immediately required for the payment of the principal of or interest on outstanding obligations of the state and held as provided by § 9-9-108 may be invested, in the board's discretion, in general obligation debt of the state of Tennessee or in any other obligations which are legal for the investment of funds of the state of Tennessee, with such yield and maturity as determined by the board after consultation with the state treasurer.
Structure 2021 Tennessee Code
Chapter 9 - Funding of State Debt
§ 9-9-101. State Funding Board
§ 9-9-102. Maintenance of Records on the Condition of All Debt Obligations and Payments
§ 9-9-103. Debt Service Payments
§ 9-9-106. Certification of Amount Necessary for Payment of Debt Obligations
§ 9-9-107. Payments by State Funding Board
§ 9-9-108. State Funding Board's Authority to Deposit or Transfer Funds
§ 9-9-109. Custodian for Securities
§ 9-9-110. Investment of Cash Not Immediately Required
§ 9-9-111. Vested Rights of Holders of Debt Obligations
§ 9-9-112. Exemption From Taxes
§ 9-9-114. Records of State Obligations Payments
§ 9-9-116. Technical Advice — Expenses of Carrying Out Chapter
§ 9-9-117. State Immunity Preserved
§ 9-9-118. Authority to Establish Guidelines, Rules and Regulations