AN ACT to amend Chapter 563 of the Private Acts of 1949, as amended, to authorize the Franklin Special School District, Williamson County, Tennessee, to issue and sell school bonds and notes in an aggregate principal amount of not to exceed twenty million dollars ($20,000,000); to provide the terms of said bonds and notes; to authorize the refinancing of said bonds and notes; to establish and provide for the payment of the bonds and notes; to levy a tax for the payment of the principal of, interest and redemption premium, if any, on such bonds and notes; to provide for the issuance and sale of said bonds and notes and the use and disposition of proceeds therefrom; to authorize the issuance of notes in anticipation of the issuance and sale of bonds; and to authorize the issuance of tax anticipation notes from time to time.
Impact
If enacted, SB1513 will directly affect the funding structure for the Franklin Special School District. By enabling the district to issue bonds and notes, this bill provides a mechanism for raising funds that can be allocated towards educational initiatives, facilities, or other necessary infrastructure projects. The ability to issue bonds tends to enhance the district's capacity to manage its financial obligations and secure resources for improving educational quality and access within the community.
Summary
Senate Bill 1513 aims to amend Chapter 563 of the Private Acts of 1949 to authorize the Franklin Special School District in Williamson County, Tennessee, to issue and sell school bonds and notes. The total authorized amount does not exceed twenty million dollars ($20,000,000). This bill outlines the terms for the bonds and notes, authorizes refinancing of said bonds, and establishes the necessary framework for the payment of these financial instruments. Furthermore, it allows for the levying of a tax dedicated to the repayment of the principal, interest, and any redemption premiums associated with the bonds and notes issued under this legislation.
Sentiment
The sentiment surrounding SB1513 appears to be generally supportive among education stakeholders. Proponents argue that the ability to secure up to $20 million through bonds will help address pressing needs within the school district, such as maintaining and improving facilities, addressing student needs, and enhancing educational resources. However, there may be concerns expressed by some taxpayers regarding potential tax implications necessary for repaying those bonds, leading to discussions about financial accountability and the budgeting process within the district.
Contention
One notable point of contention related to SB1513 may revolve around the financial implications of issuing such bonds. While proponents view it as a beneficial opportunity for the district’s growth and improvement, critics may raise questions about the long-term fiscal impact on local taxpayers, particularly regarding the establishment of new tax levies that would be necessary to fund the repayment of the bonds. The debate may center on balancing the immediate needs of the education system with the financial responsibilities of the community.
Crossfiled
AN ACT to amend Chapter 563 of the Private Acts of 1949, as amended, to authorize the Franklin Special School District, Williamson County, Tennessee, to issue and sell school bonds and notes in an aggregate principal amount of not to exceed twenty million dollars ($20,000,000); to provide the terms of said bonds and notes; to authorize the refinancing of said bonds and notes; to establish and provide for the payment of the bonds and notes; to levy a tax for the payment of the principal of, interest and redemption premium, if any, on such bonds and notes; to provide for the issuance and sale of said bonds and notes and the use and disposition of proceeds therefrom; to authorize the issuance of notes in anticipation of the issuance and sale of bonds; and to authorize the issuance of tax anticipation notes from time to time.
AN ACT to amend Chapter 563 of the Private Acts of 1949, as amended, to authorize the Franklin Special School District, Williamson County, Tennessee, to issue and sell school bonds and notes in an aggregate principal amount of not to exceed twenty million dollars ($20,000,000); to provide the terms of said bonds and notes; to authorize the refinancing of said bonds and notes; to establish and provide for the payment of the bonds and notes; to levy a tax for the payment of the principal of, interest and redemption premium, if any, on such bonds and notes; to provide for the issuance and sale of said bonds and notes and the use and disposition of proceeds therefrom; to authorize the issuance of notes in anticipation of the issuance and sale of bonds; and to authorize the issuance of tax anticipation notes from time to time.
AUTHORIZING THE TOWN OF NARRAGANSETT TO FUND AFFORDABLE HOUSING IN THE TOWN OF NARRAGANSETT AND TO ISSUE NOT MORE THAN $3,000,000 BONDS AND NOTES THEREFOR
AUTHORIZING THE TOWN OF NARRAGANSETT TO FUND AFFORDABLE HOUSING IN THE TOWN OF NARRAGANSETT AND TO ISSUE NOT MORE THAN $3,000,000 BONDS AND NOTES THEREFOR
Extends certain provisions relating to the sale of bonds and notes of the city of New York, the issuance of bonds or notes with variable rates of interest, interest rate exchange agreements of the city of New York, the refunding of bonds, and the down payment for projects financed by bonds; extends the New York state financial emergency act for the city of New York; makes further amendments relating to the effectiveness thereof.
AN ACT to amend Chapter 563 of the Private Acts of 1949, as amended, to authorize the Franklin Special School District, Williamson County, Tennessee, to issue and sell school bonds and notes in an aggregate principal amount of not to exceed twenty million dollars ($20,000,000); to provide the terms of said bonds and notes; to authorize the refinancing of said bonds and notes; to establish and provide for the payment of the bonds and notes; to levy a tax for the payment of the principal of, interest and redemption premium, if any, on such bonds and notes; to provide for the issuance and sale of said bonds and notes and the use and disposition of proceeds therefrom; to authorize the issuance of notes in anticipation of the issuance and sale of bonds; and to authorize the issuance of tax anticipation notes from time to time.
AN ACT to amend Tennessee Code Annotated, Title 4; Title 7; Title 8; Title 64; Title 65; Title 67 and Title 68, relative to the management of utility systems.
AN ACT to amend Tennessee Code Annotated, Title 4; Title 7; Title 8; Title 64; Title 65; Title 67 and Title 68, relative to the management of utility systems.
AN ACT to create and establish a water and wastewater treatment authority to be known as the "West Tennessee Regional Utility Authority" for Tipton County.
AN ACT to create and establish a water and wastewater treatment authority to be known as the "West Tennessee Regional Utility Authority" for Tipton County.
AN ACT to amend Tennessee Code Annotated, Title 4, Chapter 3, Part 7; Title 57 and Title 67, Chapter 6, relative to election of Pigeon River economic recovery district status.
AN ACT to amend Tennessee Code Annotated, Title 4, Chapter 3, Part 7; Title 57 and Title 67, Chapter 6, relative to election of Pigeon River economic recovery district status.