Exemption From State Regulation

1. Law
2. Tennessee Code
3. Consolidated Governments and Local Governmental Functions and Entities
4. Industrial Building Revenue Bond Act of 1951
5. Exemption From State Regulation

1. It is not necessary for any municipality proceeding under this chapter to obtain any certificate of convenience or necessity, franchise, license, permit, or other authorization from any bureau, board, commission, or other lay instrumentality of the state in order to acquire, construct, purchase, reconstruct, improve, better, or extend any industrial building or for the issuance of bonds in connection with the acquisition, construction, purchase, reconstruction, improvement, betterment, or extension of any industrial building.
2. No later than sixty (60) days after the date of any bond sale, pursuant to the provisions of the bond sale, the chief administrative officer of the municipality shall file with the office of the commissioner of economic and community development, industrial development division, the following information:
   1. The name of issuing municipality;
   2. The name of lessee;
   3. The total amount of the bond issue;
   4. The bond interest and maturity schedule; and
   5. The identity of the fiscal agent.

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