64-1-1215 - District powers [Enactment contingent on county approval; see the Compiler's notes]. - Tennessee Statutes

64-1-1215. District powers [Enactment contingent on county approval; see the Compiler's notes].

(a)  The districts may take all actions hereunder by resolution of their governing body. The districts shall have all powers necessary in order to further the purposes of this part, including without limitation, the power to sell, lease, dedicate, donate, or otherwise convey to the authority any of its interests in any existing water and wastewater system, franchises, assets, liabilities, or other related property, whether real or personal, or mixed, tangible or intangible, and whether or not subject to mortgages, liens, charges, or other encumbrances, or grant easements, licenses, or other rights or privileges therein to the authority and to contract with the authority.

(b)  The districts may enter into agreements with the authority for the orderly transfer of all or any part of its system and to enter into agreement for the authority to assume, to pay or to refund bonds, refunding bonds and notes issued by the districts or loan agreements entered into by the districts to acquire, construct or equip all or any part of a system.

(c)  The districts are authorized to advance, donate or lend money to the authority and to provide that funds available to it for a system shall be paid to the authority.

(d)  A utility district shall have the same right to enter into any agreement with the authority that the board deems necessary to carry out the purposes of this part, as the utility district has to enter into similar agreements with water and wastewater treatment authorities as provided by title 68, chapter 221, part 6, and as provided by the Utility District Law, compiled in title 7, chapter 82.

[Acts 2001, ch. 223, § 16.]