HB1968 - Tennessee: Local Government, General

Companion Bill SB1940. Local Government, General - Revises provisions governing what is included as "certain unfunded pension obligations," for purposes of local government public obligations law. - Amends TCA Section 9-21-105. Fiscal Summary for HB1968 / *SB1940 Other Fiscal Impact - Local governments may choose to issue such bonds if it is believed that more can be earned from investing the proceeds of the bonds than the cost of debt service. Such increased earnings may or may not take place. The cost for the issuance of debt can be high. The specific cost will vary depending upon the terms and timing of the issuance. The return on the funds invested from the proceeds of the bonds cannot be projected due to the variability of the return on various investments and the variability of the market in general. Local governments may experience a net increase or a net decrease [...]

show full description