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Resolution Authorizing Governing Bodies to Appropriate Revenues from Natural Gas Utility System to Chamber of Commerce or Economic and Community Organization

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Reviewed Date: July 18, 2018

Original Author: 
Hodge, Elisha
Date Created: 
Jun 15, 2018


Subjects:
Economic development
Natural gas
Utilities--Finance

Resolution Authorizing Governing Bodies to Appropriate Revenues from Natural Gas Utility System to Chamber of Commerce or Economic and Community Organization

Summary: 
This is a resolution that can be used by municipal governing bodies with natural gas utility systems or a board that has control over a municipal natural gas utility system to appropriate money to a chamber of commerce or economic and community organization for the purpose of economic development. The legislation does not allow money to be appropriated for these purposes in Knoxville, Memphis, Chattanooga, and Metro Nashville.
____________________, TENNESSEE
RESOLUTION NO.                

A RESOLUTION AUTHORIZING REVENUE FROM THE NATURAL GAS UTILITY SYSTEM TO BE APPROPRIATED TO ___________________________ FOR ECONOMIC DEVELOPMENT PURPOSES

           
WHEREAS, the municipal utility board with management responsibility for the natural gas utility system in the City/Town of ___________________ finds that the rates charged to natural gas utility system customers are fair and equitable; and
 
WHEREAS, the municipal utility board with management responsibility for the natural gas utility system in the City/Town of ___________________ has determined that the natural gas utility system has sufficient revenue to satisfy all obligations as required by Tennessee Code Annotated, § 7-34-115(a); and
 
WHEREAS, the State of Tennessee in Tennessee Code Annotated Section, 7-34-115(a)(2) authorizes either a municipal utility board with management responsibility for a municipal utility system that is a natural gas utility system or a municipal governing body, if there is no such board, to contribute revenue from the system to fund chambers of commerce and economic and community organizations; and
           
WHEREAS, the municipal utility board with management responsibility for the natural gas utility system in the City/Town of __________________ desires to contribute revenue from the natural gas utility system to ____________________________ for economic development purposes;
 
NOW, THEREFORE, BE IT RESOLVED by the _________________ municipal utility board with management responsibility for the natural gas utility system in the City/Town of __________________, Tennessee:
 
Section 1. Under the authority of Tennessee Code Annotated, § 7-34-115(a)(2), [insert amount] of gas utility system revenue is appropriated to ___________________________ from the municipal utility board with management responsibility for the natural gas utility system in the City/Town of ___________________ for economic development purposes.
 
Section 2. Pursuant to Tennessee Code Annotated, § 7-34-115(a)(2), customer rates will not be raised to in order to make this contribution, targeting economic development efforts.
 
Section 4. This resolution shall take effect from and after its final passage, the public welfare requiring it.



 
Passed on:                                                             
 
 
 
 
 
SIGNED: _________________________________
                                  Board Chairman
 
 
 
 
ATTEST: ______________________________
                                       Secretary
 


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MTAS letters and publications were written based upon the law at the time and/or a specific sets of facts. The laws referenced in the letters and publications may have changed and/or the technical advice provided may not be applicable to your city or circumstances. Always consult with your city attorney or an MTAS consultant before taking any action based on information contained in this database.