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Tennessee Secretary of State Tre Hargett
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Board Details
Board Name: Local Development Authority
Board ID: 173
Address: 425 Rep. John Lewis Way North, Nashville, TN 37243
Phone: 615-401-7872
Board Contact: Ann V. Butterworth
Contact Phone: 615-401-7910
Appointing Authority: Speaker of the Senate, Speaker of the House of Representatives
TCA: 4-31-101
Duties: The Authority is a public agency and an instrumentality of the state. It acts in all respects for the benefit of the people of the state in the performance of essential public functions and serves a public purpose in improving and otherwise promoting the health, welfare and prosperity of the people of the state. Among the Authority’s responsibilities is the ability to issue bonds and notes to make loans to local governments for a variety of purposes as authorized by statute. In addition, the Authority has oversight and approval authority over the State Revolving Fund loan programs and the State Infrastructure Fund loan program.
Number of Members:
Compensation: Members shall serve without salary, but shall be eligible for reimbursement of actual and necessary expenses in accordance with state travel regulations.
Appropriations: Pursuant to its two (2) general bond resolutions (Health Loans Program and the Community Provider MH/MR Loan Program), the Authority holds several funds. The statutory reserve fund was created by statute to provide additional security for the Health Loans
Meeting Schedule: The Authority meets pursuant to call, but at least quarterly. The meetings do not last more than an hour and a half (1.5).
Hours Required: