With the approval of the governing bodies of the creating and participating municipalities, the authority has the following additional powers, to:(1) Issue its bonds and notes in the manner provided in the Local Government Public Obligations Act of 1986, compiled in title 9, chapter 21, and secure the same by pledges of its revenues;(2) Enter into a plan for civil service for employees of the authority, either by contract with the creating municipality and participating municipalities, or otherwise;(3) Take over by contract, purchase, lease or otherwise any hospital project located within its boundaries undertaken by any government, or by any city or municipality located in whole or in part within its boundaries;(4) Purchase, lease, improve, obtain options upon, acquire any real property, or any interest in real property from any person, firm, corporation, city, municipality, or government, for any of the purposes provided for in this chapter; and(5) Sell, exchange, transfer, assign, or pledge any real property, or any interest in real property to any person, firm, corporation, municipality, city, or government.Acts 1971, ch. 316, § 9; T.C.A., § 6-4012; Acts 1988, ch. 750, § 36.
Tennessee Legal Code