Consent of state or local government prior to approval of financing on leasehold - Approval of change to leasehold

Notwithstanding this chapter to the contrary, prior to approval of financing on a leasehold owned by this state or a local government, but leased to a privately owned entity as described in § 68-205-102(2)(C) , the consent of this state or the local government must be obtained. A change to the leasehold must be approved by this state or the local government, as applicable. This state or a local government must be held harmless if the privately owned entity to which the leasehold is leased defaults on a financing agreement for a leasehold changed in accordance with this section. Added by 2022 Tenn. Acts, ch. 868, s 7, eff. 4/14/2022. Notwithstanding this chapter to the contrary, prior to approval of financing on a leasehold owned by this state or a local government, but leased to a privately owned entity as described in § 68-205-102(2)(C) , the consent of this state or the local government must be obtained. A change to the leasehold must be approved by this state or the local government, as applicable. This state or a local government must be held harmless if the privately owned entity to which the leasehold is leased defaults on a financing agreement for a leasehold changed in accordance with this section. Added by 2022 Tenn. Acts, ch. 868, s 7, eff. 4/14/2022.