Amends TCA Title 6.
Tennessee SB0495 amends Title 6 of the Tennessee Code Annotated, specifically addressing requirements for cities contracting under certain conditions. The bill mandates that any city engaging in such contracts must possess a bond rating of AAA from a nationally recognized statistical rating organization as identified by the U.S. Securities and Exchange Commission. This change primarily affects municipalities in Tennessee that seek to enter into contracts requiring such financial qualifications.
Tennessee SB0495 amends Title 6 of the Tennessee Code Annotated, specifically addressing requirements for cities contracting under certain conditions. The bill mandates that any city engaging in such contracts must possess a bond rating of AAA from a nationally recognized statistical rating organization as identified by the U.S. Securities and Exchange Commission. This change primarily affects municipalities in Tennessee that seek to enter into contracts requiring such financial qualifications.
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