(a) If the TRICOR board deems it desirable to use the proceeds from sales, revenues or other funds obtained from the operation of TRICOR for the purchase or construction of buildings, roads, walls, driveways, equipment or other capital improvements, the board shall make a written request to the comptroller of the treasury and the governor to obtain an authorization to expend the funds for any of those purposes. The written request shall describe the improvement and the estimated cost of the improvement.
Terms Used In Tennessee Code 41-22-124
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
written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105
(b) If the comptroller of the treasury and the governor approve the proposed expenditure, their approval shall be evidenced by endorsing their written approval upon the request and the same shall be the authority of the board to expend the funds for the improvement; provided, that it is unlawful to expend an amount greater than is stated in the approved request.(c) If the amount of the expenditure exceeds two thousand five hundred dollars ($2,500) for buildings, walls or other capital improvements, the planning and construction of those improvements shall be under the requirements, direction and supervision of the state building commission.
