Section 9-4-701 - Purpose and findings

The purpose of this part is to enable local governments in this state to participate in a pooled investment fund for the investment of idle public funds. For purposes of this part, the local governments that can participate in the fund are those entities listed in § 9-1-107(b). The general assembly finds and declares that the public interest is satisfied through a pooled investment fund for idle public funds, thereby reducing the need for imposing additional taxes. Each local government participating in the pooled investment fund is deemed a participant.Amended by 2022 Tenn. Acts, ch. 824, s 1, eff. 4/14/2022.Acts 1985, ch. 118, § 48.