64-5-212 - Local governmental units authorized to make contributions and issue bonds. - Tennessee Statutes

64-5-212. Local governmental units authorized to make contributions and issue bonds.

The various counties, towns and incorporated municipalities in the region are hereby authorized and empowered to:

     (1)  Contribute to the work of the authority 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 projects undertaken by the authority, or to secure advances made by federal agencies for the construction agreements with the authority.

[Acts 1986, ch. 789, § 12; 1989, ch. 403, § 12.]