Statutes > Tennessee Statutes > Title 7 - Consolidated Governments > Chapter 51 - Miscellaneous Governmental and Proprietary Functions > Part 9 - Contracts, Leases and Lease-Purchase Agreements > 7-51-902 - Capital improvement property.

7-51-902 - Capital improvement property.

7-51-902. Capital improvement property.

Any municipality is authorized to enter into, with any contracting party or parties, contracts, leases or lease-purchase agreements with respect to capital improvement property for terms not to exceed forty (40) years or the useful life of the subject capital improvement property, whichever is less.

[Acts 1983, ch. 186, § 2.]