7-89-111 - Municipal support of projects Assignment or loan of employees and provision of facilities to authority Acceptance of donations Reversion of property to donor. - Tennessee Statutes

7-89-111. Municipal support of projects Assignment or loan of employees and provision of facilities to authority Acceptance of donations Reversion of property to donor.

(a)  For the purpose of aiding and cooperating with an authority, the municipality authorizing the authority may assign or loan any of its employees, including its engineering staff, and facilities, or those of its agencies and instrumentalities; may provide necessary office space, equipment, and other facilities for the use of the authority and may provide or cause its agencies and instrumentalities to provide such services, all as the governing body of the municipality shall approve by resolution.

(b)  The governing body of the municipality may enter into a lease of any project or part of a project, and may make donations of property, real or personal, or cash grants to the authority, in such amount or amounts as it may deem proper and appropriate in aiding the authority to accomplish its purpose, all as the governing body of the municipality shall approve by resolution.

(c)  Any municipality authorizing an authority that enters into a lease with an authority may convey real property or personal property to the authority and may include a provision in the conveyance for the reversion of the property to the transferor at such time as all revenue bonds or other obligations of the authority incident to the real property so conveyed have been paid in full, all as the governing body of the municipality shall approve by resolution, and any authority created pursuant to this chapter is authorized to accept such a conveyance.

[Acts 2009, ch. 474, § 1.]