Tennessee § 4-14-109 - Industrial development division — Building finance committee.

§ 4-14-109. Industrial development division — Building finance committee.

There is created in the industrial development division, referred to in this section as the “division,” a building finance committee referred to in this section as the “committee,” which shall exercise the powers and duties and discharge the responsibilities enumerated in this section and in title 7, chapters 53 and 55 for such committee, subject to such review and rules and regulations as may be prescribed by the division. The committee shall consist of the vice chair of the former Tennessee board of economic growth, serving ex officio as chair of the committee, and six (6) additional members appointed by the governor, two (2) from each of the three (3) grand geographical divisions of the state, who shall be competent to serve on the committee by reason of experience in the fields of investment finance or industry. The term of each appointive member shall be four (4) years. Any vacancy in the appointive membership shall be filled by the governor for the unexpired term. The members of the committee shall serve without pay, except for actual expenses incurred in the course of attending to the official business of the committee. The director of the division shall serve as secretary of the committee, and such additional staff may be assigned or employed as may be deemed necessary by the committee, to carry out effectively title 7, chapters 53 and 55. A majority of the members of the committee shall constitute a quorum for the transaction of any and all business of the committee, and one (1) member shall be designated as a vice chair to preside at meetings and otherwise act as chair in the absence of the chair. All orders, findings, acts and certificates of the committee shall be attested by the signature of the chair or vice chair, and the secretary, and when so attested, all orders, acts, findings and certificates of the committee shall be competent evidence and shall be given full faith and credit in any court or proceeding, and unless affirmatively shown to the contrary, it shall be presumed that the proceedings of the committee were in all things regular. The secretary, or in the secretary's absence, some person designated by the secretary to act in the secretary's place, shall keep regular and accurate minutes of the committee's proceedings, in a minute book provided for that purpose, which shall be a public record, and all orders, findings and acts of the committee shall be entered upon its minutes. The committee is authorized and empowered to use and expend such funds as may be made available for its purposes by the staff division. The committee shall hold regular meetings at the offices of the division, and at such other times and places as its duties may require, with the express authority to adjourn or recess from time to time, and place to place, and to convene special meetings by unanimous consent. All reimbursement for travel expenses shall be in accordance with the comprehensive travel regulations promulgated by the department of finance and administration and approved by the attorney general and reporter. The committee shall adopt and implement a conflict of interest policy for committee members. The policy shall mandate annual written disclosures of financial interests, other possible conflicts of interest, and an acknowledgement by committee members that they have read and understand all aspects of the policy. The policy shall also require persons who are to be appointed to the committee to acknowledge, as a condition of appointment, that they are not in conflict with the conditions of the policy. Acts 1955, ch. 210, § 13; impl. am. Acts 1963, ch. 169, § 2; impl. am. Acts 1972, ch. 852, §§ 12, 13; Acts 1976, ch. 806, § 1 (44); T.C.A., §§ 4-1401, 4-1408; Acts 2013, ch. 252, § 4. Compiler's Notes. The industrial development division, building finance committee, created by this section, terminates June 30, 2025. See §§ 4-29-112 , 4-29-246 . The Tennessee board of economic growth, referred to in this section, was repealed by Acts 2009, ch. 105, § 3, effective April 27, 2009. Cross-References. Grand divisions, title 4, ch. 1, part 2.