Tennessee Code Title 7. Consolidated Governments and Local Governmental Functions and Entities § 7-36-109

(1) Selection and employment of the president, who shall serve as the chief executive officer of the authority, who shall serve at the pleasure of the board, and whose compensation shall be set by the board. Nothing in this chapter shall prevent the board from entering into an employment contract with the president. The president shall select, employ, and discharge all employees and fix their duties and compensation;

(2) Issuance of bonds of the authority and the encumbering of assets of the authority, to the extent authorized in this chapter, to secure any such bonds;

(3) Approval of rates of each of the systems;

(4) Approval of the annual budget of each of the systems;

(5) Adoption of bylaws for the conduct of the business of the board;

(6) Selection of any certified public accountant to perform audits of the books and affairs of the authority; and

(7) Adoption of a purchasing policy for the authority and the approval of purchases and disposition of property in accordance with the terms thereof.