State Codes and Statutes
Statutes > Tennessee > Title-54 > Chapter-3 > 54-3-11054-3-110. Appropriations of the state funding board.
By authorizing the issuance of bonds, hedging agreements and ancillary agreements which are not a liability of the state, payable other than from toll revenues and other moneys on deposit in the state tollway fund, the general assembly intends that such authorizations shall constitute:
(1) A direct and continuing appropriation to the state funding board of the toll revenues and other moneys on deposit in the state tollway fund from time to time and to the state funding board a sum sufficient from the state tollway fund to satisfy obligations under the bonds and the resolutions or indentures authorizing the bonds, under hedging agreements, and under ancillary agreements; and
(2) The authority to expend those funds in accordance with this chapter, subject to any resolutions or indentures authorizing bonds.
[Acts 2007, ch. 597, § 11.]
