Tennessee Code 68-205-115 – Use of public funds to fund or repay loan prohibited – Full faith and credit of local government not pledged, offered, or encumbered
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Terms Used In Tennessee Code 68-205-115
- Capital provider: means a private third-party entity, including its designee, successor, and assigns, that makes or funds C-PACER financing, including refinancing, under this chapter. See Tennessee Code 68-205-102
- Lien: A claim against real or personal property in satisfaction of a debt.
- Local government: means a county, metropolitan government, municipality, or other political subdivision of this state. See Tennessee Code 68-205-102
- program: means a commercial property assessed clean energy program established under this chapter. See Tennessee Code 68-205-102
- Property owner: means the owner or owners on title, duly recorded, of a commercial property. See Tennessee Code 68-205-102
- State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
The state, a county, or local government shall not use public funds to fund or repay a loan between a capital provider and property owner. This chapter does not pledge, offer, or encumber the full faith and credit of a local government. A local government shall not pledge, offer, or encumber its full faith and credit for a lien amount through a C-PACER program.