Use of public funds to fund or repay loan prohibited - Full faith and credit of local government not pledged, offered, or encumbered

The state, a county, or local government shall not use public funds to fund or repay a loan between a capital provider and property owner. This chapter does not pledge, offer, or encumber the full faith and credit of a local government. A local government shall not pledge, offer, or encumber its full faith and credit for a lien amount through a C-PACER program. Added by 2021 Tenn. Acts, ch. 138, s 1, eff. 7/1/2021. The state, a county, or local government shall not use public funds to fund or repay a loan between a capital provider and property owner. This chapter does not pledge, offer, or encumber the full faith and credit of a local government. A local government shall not pledge, offer, or encumber its full faith and credit for a lien amount through a C-PACER program. Added by 2021 Tenn. Acts, ch. 138, s 1, eff. 7/1/2021.