§ 9-22-103. Chapter Definitions
In this chapter: Except as provided in the following sentence, the term “collateral” means any revenues, operating income, fees, rents, tolls or other charges received or receivable by an issuer from any public works project or otherwise, rights to payment and other rights under agreements, rights to and receipts of tax collections and revenues, rights […]
§ 9-22-104. Perfection of Pledges or Liens
The grant of a pledge or the creation of a lien on collateral by an issuer, which grant or creation is otherwise authorized under Tennessee law, shall be valid and binding from the time that the pledge or lien is created or granted and shall inure to the benefit of the holder or holders of […]
§ 9-21-1011. Notice of Redemption
If any of the obligations to be refunded are to be called for redemption, the governing body shall cause the notice of redemption to be given in the manner and at the time required by the resolution or ordinance authorizing the outstanding obligations.
§ 9-21-1012. Application of Proceeds of Sale of Revenue Refunding Bonds
The principal proceeds from the sale of any revenue refunding bonds shall be applied only as follows, either to the: Immediate payment and retirement of the obligations being refunded; or Extent not required for the immediate payment of the outstanding obligations being refunded, the proceeds of the revenue refunding bonds shall be deposited in escrow […]
§ 9-21-1013. Powers to Secure and to Covenant as to Revenue Refunding Bonds
In order to secure the payment of the principal of and interest on revenue refunding bonds issued pursuant to this part and part 1 of this chapter, and the payment of the obligations of any local government under any interest rate agreement authorized by this part, including its obligation for termination or other non-periodic payments, […]
§ 9-21-1014. Revenue Refunding Bonds of the Same Issue Shall Be Equally and Ratably Secured
All revenue refunding bonds of the same issue shall be equally and ratably secured, without priority by reason of number, date of bonds, date of sale, date of execution or of delivery, by a lien upon the revenues of the enterprise, the revenues of which are pledged to the payment of such bonds, in accordance […]
§ 9-21-1015. Rates Prescribed Sufficient to Produce Sufficient Revenues
The governing body of a local government issuing revenue refunding bonds pursuant to this part and part 1 of this chapter shall prescribe and collect reasonable rates, fees or charges for the services, facilities and commodities of the enterprise, and shall revise such rates, fees or charges from time to time whenever necessary so that […]
§ 9-21-1006. Terms of Revenue Refunding Bonds — Interest Rate Agreements
The revenue refunding bonds may be sold in one (1) or more series, may bear such date or dates, shall mature at such time or times not exceeding forty (40) years from their respective dates, may bear interest at a zero (0) rate or at such other rate or rates (which may vary from time […]
§ 9-21-1007. Limitation on Maturity of Bonds to Be Refunded
Unless the outstanding obligations are retired at the time of delivery of the revenue refunding bonds, then the revenue refunding bonds shall not be issued to refund the outstanding obligations unless the outstanding obligations shall mature by their terms or shall be subject to redemption and be called for redemption within ten (10) years from […]
§ 9-21-1008. Sale or Exchange of Revenue Refunding Bonds — Agreements to Sell
Any local government, proposing to sell revenue refunding bonds for any authorized purpose under this part and part 1 of this chapter, is authorized to sell the revenue refunding bonds either at a competitive public sale or at a private negotiated sale, as the governing body of the local government may determine. If the governing […]