Tennessee Valley Authority. A federal agency established in 1933 to develop the Tennessee river valley region of the southeastern U.S., and which is now nation's largest power producer.
The 1933 Tennessee Valley Authority Act authorized the building of federally owned dams and power plants on the Tennessee River, and the sale of fertilizer and electricity to individuals and local communities. In addition, its programs for flood control, soil conservation, and reforestation helped raise the standard of living of millions of people in the Tennessee River Valley.
Tennessee Valley Authority. Federal agency established to assist in the development of the Tennessee River and adjacent areas. TVA bonds and notes are secured by a first charge on the agency's net income before interest and depreciation. Principal and interest payments rank ahead of the TVA?s annual payments to the Treasury.