Which statutes provide the statutory authority for industrial development bonds?

The correct answer identifies that the statutory authority for industrial development bonds in Tennessee is found within T.C.A. §§ 7-53-101 to 7-53-311. These statutes specifically address the issuance of bonds for industrial development purposes, outlining the powers granted to local municipalities and agencies in facilitating economic development through such bonds.

This legislative framework establishes guidelines on the financing and management of projects aimed at enhancing industrial growth, thereby enabling local governments to better attract and support businesses. The statute not only details the procedures for bond issuance but also delineates the obligations and powers of the municipalities involved.

Understanding the context of this authority is critical for municipal finance professionals, as it directly relates to the utilization of these bonds to fund projects that promote economic development within their communities. This information is essential for anyone working in municipal finance, as it underlines the statutory tools available for financing public infrastructure and fostering industrial growth.