Plain English Breakdown
The bill text and summary do not provide details on specific penalties or amounts that can be raised through bond issuance.
Megasite Authority of West Tennessee Bond Issuance Act
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.
- Specifies that bond costs can include issuance expenses, engineering inspection fees, legal and fiscal expenses related to bonds, and interest on borrowed money during construction and six months after.
Who It Names or Affects
- The Megasite Authority of West Tennessee
Terms To Know
- Megasite Authority of West Tennessee
- A regional authority responsible for managing large-scale development projects in West Tennessee.
- Bonds
- Financial instruments issued by the authority to raise money for specific projects.
Limits and Unknowns
- The bill does not specify how much money can be raised through bond issuance.
- It is unclear what penalties will be assessed if a person violates land use regulations.