Tennessee Code 5-12-214 – Approval of appropriation for capital expenditures to be financed by long-term debt
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Tennessee Code 5-12-214
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Long-term debt: means debt payable after June 30 of the fiscal year, for which the budget is applicable. See Tennessee Code 5-12-202
Any appropriation for capital expenditures to be financed by long-term debt shall not be expended or obligated until the issuance of the long-term debt has been approved by the county legislative body and the comptroller of the treasury or the comptroller’s designee as required by law.