Tennessee § 54-3-110 Appropriations of the state funding board

Tennessee Statutes

§ 54-3-110 — Appropriations of the state funding board

By authorizing the issuance of bonds, hedging agreements and ancillary agreements which are not a liability of the state, payable other than from user fee revenues and other moneys on deposit in the state user fee fund, the general assembly intends that such authorizations shall constitute:

(1)A direct and continuing appropriation to the state funding board of the user fee revenues and other moneys on deposit in the state user fee fund from time to time and to the state funding board a sum sufficient from the state user fee fund to satisfy obligations under the bonds and the resolutions or indentures authorizing the bonds, under hedging agreements, and under ancillary agreements; and (2) The authority to expend those funds in accordance with this chapter, subject to any resolutions or ind

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By authorizing the issuance of bonds, hedging agreements and ancillary agreements which are not a liability of the state, payable other than from user fee revenues and other moneys on deposit in the state user fee fund, the general assembly intends that such authorizations shall constitute: (1) A direct and continuing appropriation to the state funding board of the user fee revenues and other moneys on deposit in the state user fee fund from time to time and to the state funding board a sum sufficient from the state user fee fund to satisfy obligations under the bonds and the resolutions or indentures authorizing the bonds, under hedging agreements, and under ancillary agreements; and (2) The authority to expend those funds in accordance with this chapter, subject to any resolutions or indentures authorizing bonds.

Tennessee § 54-3-110 (Appropriations of the state funding board) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.