Bond Issues - As introduced, authorizes the state, acting by resolution of its funding board, to issue and sell its bonds and bond anticipation notes for certain purposes. -

SB 1392 authorizes Tennessee's funding board to issue up to $30 million in state bonds for capital projects. The funds would cover construction, equipment, highway improvements, bridge repairs, and infrastructure at state agencies and institutions of higher education. Specifically, proceeds must be allocated to the Tennessee Higher Education Commission for capital improvements at colleges and universities. The bill also permits up to 2.5% of the bond amount to cover issuance costs, with all bonds being direct state obligations.