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Tennessee Code Title 5. Counties § 5-16-106

Current as of January 02, 2024 | Updated by Findlaw Staff

(a) The county legislative body is hereby authorized to issue bonds of the county for the purpose of financing the cost of establishment, construction, installation or acquisition of any urban type public facility.

(b) Bonds so issued may be either general obligation bonds of the county secured by the full faith and credit and taxing power of the county, or revenue bonds secured by the revenues derived from the operation of the urban type public facility financed thereby, or by a combination of such revenues and the unpledged revenues derived by the county from any other urban type public facilities owned and operated by the county.

(c)(1) Any bonds issued by the county for the purpose of financing urban type public facilities shall be issued in the manner and form prescribed by the applicable provisions of title 9, chapter 21.

(2) In the issuance of bonds, an urban type public facility so financed shall be deemed to be a “public works project,” as defined in title 9, chapter 21, and all power and authority conferred upon the county by the terms and provisions of title 9, chapter 21 with respect to the construction, operation, maintenance, financing and the fixing and collection of fees, rates, rents and other charges shall be available to and vested in the county with respect to the establishment, construction, installation, acquisition, operation, maintenance and financing of the urban type public facilities authorized pursuant to this chapter.

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Cite this article: FindLaw.com - Tennessee Code Title 5. Counties § 5-16-106 - last updated January 02, 2024 | https://codes.findlaw.com/tn/title-5-counties/tn-code-sect-5-16-106/

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