64-1-1216 - County powers [Enactment contingent on county approval; see the Compiler's notes]. - Tennessee Statutes

64-1-1216. County powers [Enactment contingent on county approval; see the Compiler's notes].

(a)  The county may take all actions hereunder by resolution of its governing body. The county shall have all powers necessary 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 county, through its governing body is authorized to issue joint obligations with the authority and to pledge its full faith and credit and unlimited taxing power to such bonds, notes or refunding bonds and to guarantee the bonds, notes or refunding bonds as set forth in § 64-1-1210.

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

(d)  The county may 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.

(e)  The county has the power to enter into any other agreement with the authority that the board deems necessary to carry out the provisions of this part.

[Acts 2001, ch. 223, § 17.]