Purpose

(1) By the provisions set forth in the Industrial Park Act of 1959, as amended, being Title 16, Chapter 13 of Tennessee Code Annotated, every municipality in this state which undertakes to develop an industrial park under the authority of the Industrial Park Act, TCA 13-16-201 et. seq., must apply for and receive from the Committee a Certificate of Public Purpose and Necessity. (2) Pursuant to above and to insure reasonable industrial development under the Industrial Park Act of 1959, and to adequately protect the taxpayers of the State of Tennessee, the Committee hereby establishes the following rules for making application to and obtaining from the Committee a Certificate of Public Purpose and Necessity.