SENATE BILL 1563
By Walley HOUSE BILL 1572
By Shaw AN ACT to amend Chapter 130 of the Private Acts of 2006; and any other acts amendatory thereto, relative to the Bolivar Energy Authority.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:
SECTION 1. Section 10 of Chapter 130 of the Private Acts of 2006, and any other acts amendatory thereto, is amended by deleting the following from subsection (a):
The board shall adopt a policy governing all purchases of services or property, whether real or personal, all leases and lease-purchases and the disposition of all property of the authority. The policy shall authorize the chief executive officer, or his designee or
designees, to enter into contracts and agreements for the purchase of services or
property, real or personal, leases and lease-purchases, disposition of property of the authority with a value not exceeding an amount from time to time established by the board but not less than $50,000, and providing for board approval for such purchases,
leases, lease-purchases and dispositions in excess of such amount.
and substituting instead:
The board shall adopt a policy governing all purchases of services or property, whether real or personal, all leases and lease-purchases and the disposition of all property of the authority. The policy shall authorize the chief executive officer, or his designee or
designees, to enter into contracts and agreements for the purchase of services or
property, real or personal, leases and lease-purchases, disposition of property of the authority with a value not exceeding an amount from time to time established by the board but not less than $100,000, and providing for board approval for such purchases,
leases, lease-purchases, and dispositions in excess of such amount.
HB1572
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 SECTION 2. This act shall have no effect unless it is approved by a two-thirds (2/3) vote of the legislative body of the City of Bolivar. Its approval or nonapproval shall be proclaimed by
the presiding officer of the legislative body and certified to the secretary of state.
SECTION 3. For the purpose of approving or rejecting the provisions of this act, it shall be effective upon becoming a law, the public welfare requiring it. For all other purposes, it shall become effective as provided in Section 2.
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