Tennessee Local Development Authority

The Authority is delegated the responsibility for issuing bonds and notes to provide funds (1) to make loans to local governments for water, sewer and solid waste resource recovery facilities, (2) to make loans to certain small business concerns for pollution control facilities, (3) to make loans to local government units for capital projects, (4) to make loans to farmers for certain capital improvements, (5) to make loans to counties for the acquisition of equipment for use by county or volunteer fire departments serving unincorporated areas, (6) to make loans to airport authorities and municipal airports, (7) to make loans to mental health/mental retardation and drug facilities, and (8) to reimburse reasonable and safe cleanup of petroleum sites. As of June 30, 2007 the Authority's outstanding indebtedness was $59,725,000 in bonds, $57,000,000 in tax-exempt notes, and $800,000 in taxable commercial paper. The Division of Bond Finance serves as the registrar and paying agent for Authority debt.

 
 

Last revised: 2/15/08