(a) Any acquisition of property previously made, within or without the limits of any municipality or the state, for the purposes authorized by this chapter, and any other action previously taken by a municipality in furtherance of those purposes, including, but not limited to, the making of appropriations, the expenditure of money, the incurring of debts, the acceptance and disbursement of federal, state or other grants or loans, the issuance and payment of bonds and notes, the execution of leases and contracts, which acquisition or action would have been authorized had this chapter been in effect at the time of the acquisition or action, is ratified and made valid.
Terms Used In Tennessee Code 42-5-116
Municipality: means any county, incorporated city, or incorporated town of this state. See Tennessee Code 42-5-102
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
(b) All bonds and notes previously issued in furtherance of purposes authorized by this chapter and actions ratified by this section are confirmed as legal obligations of the municipality, and, without prejudice to the general powers granted to the municipality by this chapter, the municipality is authorized to issue further bonds and notes for such purposes up to the limit fixed in the original authorization therefor, which bonds and notes shall be legal obligations in accordance with their terms.
