9-21-601 - Authorization for the issuance of capital outlay notes. - Tennessee Statutes

9-21-601. Authorization for the issuance of capital outlay notes.

The governing body of a local government acting by resolution is hereby authorized to issue and sell interest-bearing capital outlay notes for all purposes for which bonds can be legally authorized and issued by a local government for public works projects as defined in this chapter and for property valuation, tax assessment and tax equalization programs. The sale of all interest-bearing capital outlay notes shall first be approved by the state director of local finance.

[Acts 1986, ch. 770, § 6-1.]