64-1-605 - Authority to contribute money and issue bonds. - Tennessee Statutes

64-1-605. Authority to contribute money and issue bonds.

The counties of Coffee, Bedford, Marshall and Maury and the towns and incorporated municipalities therein and other governmental entities electing to become a sponsoring and participating governmental entity pursuant to § 64-1-601(c) are hereby authorized and empowered to:

     (1)  Contribute to the work of the agency any amount or amounts of money that their respective governing bodies, acting in their sole discretion, shall approve to be paid from the general fund of the respective county or city. County legislative bodies and governing bodies of such cities or towns are empowered to levy and collect ad valorem taxes for such purposes, which are hereby declared to be for municipal and county public purposes; and

     (2)  Issue their bonds as provided in title 9, chapter 21, to obtain funds for the financing of public works by the agency, or to secure advances made by federal agencies for the construction of public works in the Upper Duck River pursuant to cooperative agreements with the agency.

[Acts 1965, ch. 80, § 5; impl. am. Acts 1978, ch. 934, §§ 7, 36; T.C.A., § 66-1-605; Acts 1987, ch. 209, § 3; 1989, ch. 403, § 5.]