HB2213 - Tennessee: Bond Issues, Public Funds And Financing

Public Funds and Financing - Authorizes the state funding board to enter into an agreement to guarantee the principal and interest on the revenue bonds of the Northwest Tennessee Regional Port Authority in an aggregate principal amount of up to $16 million for a term not to exceed 20 years. - Amends TCA Title 7, Chapter 87 and Title 9, Chapter 9.

Decrease Local Govt. Expenditures - $53,000 Other Fiscal Impact - By guaranteeing bonds for the port authority, the state would be required to appropriate approximately $1,230,000 for annual debt service on the bond issuance. However, such funds would not actually be spent unless the port authority defaults on the obligation to repay such bonds.