GroundRules
Tenn. Code Ann. § 7-41-107: Delegation to industrial development corporation
Where this section sits in the code
- TN Code
- Title 7
- Chapter 41
An eligible municipality in which a district is located is authorized to delegate to any industrial development corporation within the county or counties where the municipality is located the authority to carry out all or part of the project, to issue revenue bonds to finance a project within a district, and to incur cost for the project. The municipality may enter into an agreement with an industrial development corporation in which the municipality agrees to promptly pay to the industrial development corporation the tax revenues received pursuant to this chapter sufficient to service the repayment of the bonds and costs incurred by the industrial development corporation for the project. Upon receipt, that portion of tax revenues must be held in trust by the municipality for the benefit of the industrial development corporation.
Collected 2026-09-17T21:51:56Z. Source file · JSON
Compilation CC BY 4.0, Open US Law (Vaquill AI). GroundRules uses only the releases published under CC BY 4.0: from v2026.09 the compilation is licensed CC BY-NC 4.0, and GroundRules does not use those releases. Each affected row names its release in its vintage label. GroundRules parsed and filtered the compilation to retain enacted text. Source · License
Tennessee electronic product files were republished by Public.Resource.Org under a public-domain mark. GroundRules uses enacted text from Release 76 only as a labeled supplement to the newer Open US Law rows. Source