Terms Used In Tennessee Code 9-14-106

  • Economic adjustment project: means those activities for which funds are available from local, state or federal sources and which include one (1) or more of the following objectives:
    (A) Plan, finance, construct, operate and maintain all types of public facilities, including publicly owned industrial parks. See Tennessee Code 9-14-103
  • Federal government: means the government of the United States and any agency, department, board or commission thereof performing or administering programs enacted by statute. See Tennessee Code 9-14-103
  • State: means the state of Tennessee, including all state agencies, departments, boards, commissions, and other bodies which carry out state functions and programs. See Tennessee Code 9-14-103

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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