HB2953 - Tennessee: County Government, County Officers, Local Government, General

Companion Bill SB3032. County Government - Revises various provisions governing contracts entered into between county and banks in regard to county funds; requires proposal from at least two banks to assure county receives highest and best rate of return. - Amends TCA Title 5 and Title 8. Fiscal Summary for *HB2953 / SB3032 Increase Local Expenditures - Not Significant Bill Summary for *HB2953 / SB3032 Present law allows a county legislative body to adopt a resolution to contract with a bank or banks making the highest and best bid or bids to pay interest on daily balances of the county's funds and to appoint three of the body's members, who, in conjunction with the county trustee and county mayor, must constitute the county finance committee. This bill revises the above provision to instead require that a county legislative body [...]

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