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Current as of January 02, 2024 | Updated by Findlaw Staff
All bonds issued by a unit under this chapter shall be authorized by a bond order passed by the governing body of the unit. Notwithstanding any public or private statute relating to the unit, such bond order may be finally passed at the meeting at which the same shall be introduced. The bond order shall state:
(1) A brief description of the indebtedness to be funded or refunded sufficient to identify such indebtedness, and the amount of redemption premium, if any, to be paid upon bonds refunded and the amount of expenses, if any, to be paid from the proceeds of bonds;
(2) The maximum aggregate principal amount of bonds to be issued;
(3) That a tax sufficient to pay the principal of and interest on the bonds shall be annually levied upon all taxable property in the unit; and
(4) That the bond order shall take effect upon its passage and shall not be submitted to the voters of the unit.
Cite this article: FindLaw.com - Tennessee Code Title 9. Public Finances § 9-11-104 - last updated January 02, 2024 | https://codes.findlaw.com/tn/title-9-public-finances/tn-code-sect-9-11-104/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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