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2021 Tennessee Code
Title 4 - State Government
Chapter 31 - Tennessee Local Development Authority Act
Part 7 - Tennessee Local Development Authority Mental Health and Mental Retardation Facilities Act of 1990
§ 4-31-704. Issuance and Sale of Bonds and Notes — Loans — Authorization
Universal Citation: TN Code § 4-31-704 (2021)
- In addition to the powers otherwise granted by law, the authority has the power and is authorized to issue and sell bonds and notes, the proceeds of which may be used to make loans to any grantee for the construction or the refinancing of the construction of a facility pursuant to a loan agreement between the grantee, the department and the authority.
- Such loans shall be made from the proceeds of bonds or notes issued by the authority for the purpose of making such loans.
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