Bill Title: As introduced, requires review and approval of the state funding board before a local government could borrow money or contract for or issue debt if the debt of the local government is greater than 10 percent of the assessed valuation of its taxable property or if the proposal for new debt would exceed such 10 percent level. - Amends TCA Title 4; Title 5; Title 6; Title 7 and Title 9.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2012-01-12 - P2C, ref. to S. S&L Govt. Comm. [SB2158 Detail]

Text: Latest bill text (Draft #1) [PDF]

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