Tennessee § 7-55-101 - Short title.

§ 7-55-101. Short title.

This chapter shall be known and may be cited as the “Industrial Building Bond Act of 1955.” Acts 1955, ch. 209, § 1; T.C.A., § 6-2901. Compiler's Notes. Section 3 of Acts 1955, ch. 209, reads as follows: “That it is hereby determined and declared that the purpose of this act is to do that which the state welfare demands, and the state public policy requires: “(a) That the migration and loss of the people of Tennessee, who are compelled to leave the territorial limits of the state, daily, weekly, monthly and yearly to obtain employment and earn a livelihood be retarded and reduced. “(b) That the conditions of unemployment existing statewide in Tennessee be relieved thereby reducing the evils attendant thereto. “(c) That the average family income in Tennessee be raised and increased as much as possible, but to an amount at least the average over the United States. “(d) That a means be provided for the citizens of communities to promote and develop industry in their areas, when it is possible for them to do so in their separate and individual capacities. “(e) That a balanced economic development highly essential to the welfare of this state be promoted. “(f) That the reconversion from war time and civil defense economy to peace time pursuits be expedited by a program for readjustment of employment to accord with employment problems necessarily arising from changed conditions. “(g) That the present and prospective health, safety, morals, pursuit of happiness, right to gainful employment and the general welfare of the citizens demand as a public purpose, the development within Tennessee of commercial, industrial, agricultural and manufacturing enterprises by the several municipalities. “(h) That the means and measures herein authorized to promote such enterprises are, as a matter of public policy, for the public purposes of the several municipalities, and the state of Tennessee. “(i) That the present and prospective promotion of health, safety, morals, pursuit of happiness, right to gainful employment, and the general welfare of the state requires the measures that are herein and hereby authorized, and to that end will afford ready and attractive markets for farm and garden products, for the development of natural resources, and for the conversion of raw materials of farm, mine and forest into finished products for the general welfare of each of such municipalities, and the entire people of the state. “(j) That the accomplishment of the things herein authorized to be done by the several municipalities will give to them local benefits peculiar to each, and general benefits to the entire state.” Cross-References. Industrial Building Revenue Bond Act of 1951, title 7, ch. 37. Industrial parks, title 13, ch. 16, part 2. Limitation of actions on bonds, § 28-3-113 . Textbooks. Tennessee Jurisprudence, 19 Tenn. Juris., Municipal, State and County Aid, § 2.