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2021 Tennessee Code
Title 9 - Public Finances
Chapter 14 - Local Economic Adjustment Act of 1975
§ 9-14-106. Funds
Universal Citation:
TN Code § 9-14-106 (2021)
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Cities and counties are specifically authorized to appropriate funds from local sources, from general funds available, and from any other source authorized by state law, to operate the department and otherwise manage an economic adjustment project as described in this chapter, including the provision of funds needed to match available state and federal funds for such purposes. Commercial loans made to individuals, private firms and corporations shall in no way extend the credit of cities and counties in behalf thereof; however, such loans can be made in behalf of the federal government and with use of federal funds granted for such purposes.
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