Plain English Breakdown
The official summary and digest do not provide specific details about penalties or other actions that were removed from the candidate explanation.
Megasite Authority of West Tennessee Bond Issuance
This bill allows the Megasite Authority of West Tennessee to issue bonds for water and wastewater system projects.
What This Bill Does
- Allows the Megasite Authority of West Tennessee to issue bonds to pay for water and wastewater systems.
- Gives the board of directors more power to decide costs related to bond issuance, including expenses and interest.
- States that the state is not responsible if these bonds fail or are in debt.
- Requires the authority to get approval from the state funding board before issuing bonds.
Who It Names or Affects
- The Megasite Authority of West Tennessee
- People who live near water and wastewater systems funded by this bill
Terms To Know
- Bonds
- A type of loan where the authority promises to pay back money with interest.
- State Funding Board
- An agency that decides if it's okay for the Megasite Authority to issue bonds.
Limits and Unknowns
- The bill does not specify how much money can be borrowed.
- It is unclear what happens if the authority cannot pay back the bonds.