Tenn. Code Ann. § 6-54-125: Municipal officials and employees prohibited from purchasing surplus property, except at public auction - Penalty

(a) It is unlawful for any municipal official or employee to purchase from the municipality any property declared to be surplus by the municipality, except by bid at public auction during the tenure of such person's office or employment, or for six (6) months thereafter.

(b) A purchaser who violates this section commits a Class A misdemeanor.