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2020 Tennessee Code
Title 49 - Education
Chapter 13 - Tennessee Public Charter Schools Act of 2002
§ 49-13-124. Charter School Powers
Universal Citation: TN Code § 49-13-124 (2020)
- The governing body of a public charter school may sue and be sued. The governing body may not levy taxes or issue bonds except in accordance with state law. A public charter school may conduct activities necessary and appropriate to carry out its responsibilities such as:
- Contract for services, except for the management or operation of the charter school by a for-profit entity;
- Buy, sell or lease property;
- Borrow funds as needed; and
- Pledge its assets as security; provided, however, that those assets are not leased or loaned by the state or local government.
- The authorizer may endorse the submission of the school credit bond application to the local taxing authority, if the project is a qualified project under § 54E(c)(2) or § 54F(d)(1) of the Internal Revenue Code of 1986 (26 U.S.C. § 54E(c)(2) and 26 U.S.C. § 54F(d)(1), respectively), and the Tennessee State School Bond Authority Act, compiled in chapter 3, part 12 of this title, and with respect to § 54E(c)(2), the applicant can demonstrate that the applicant meets the ten percent (10%) matching funds requirement, as prescribed by § 54E(c)(2).
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