4-3-306 - State funding board. - Tennessee Statutes

4-3-306. State funding board.

(a)  The state funding board is attached to the department of audit, as a division thereof, for all administrative purposes.

(b)  (1)  The state funding board is authorized to establish policies and procedures under which the director of local finance shall be guided in the administration of state laws concerning bond and note issues by counties, municipalities and utility districts.

     (2)  Noncompliance with provisions of subdivision (b)(1) shall not invalidate any bonds issued by a unit of local government.

[Acts 1959, ch. 9, § 8; 1978, ch. 864, §§ 1, 2; T.C.A., §§ 4-332, 4-333.]