Tennessee Statutes
§ 5-3-121 — Debt reorganization - Payment of unfunded debt
Tennessee § 5-3-121
JurisdictionTennessee
Title5
This text of Tennessee § 5-3-121 (Debt reorganization - Payment of unfunded debt) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Tenn. Code Ann. § 5-3-121 (2026).
Text
(a)Any floating indebtedness or bonded indebtedness of an absorbed county, not funded or refunded under §§ 5-3-113 - 5-3-121, shall be paid out of a tax levied against the property of the absorbed county.
(b)This tax levy shall be such proportion of the tax levy, levied by the absorbed county for bonds and interest during the past fiscal year, as the outstanding bonds of the absorbed county bears to the outstanding bonds of the absorbed county prior to consolidation.
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Legislative History
Acts 1939, ch. 225, § 8; C. Supp. 1950, § 136.17 (Williams, §136.19); T.C.A. (orig. ed.), § 5-321.
Nearby Sections
15
§ 5-1-101
Enumeration of counties§ 5-1-102
Jurisdiction over boundary waters§ 5-1-103
Corporate capacity§ 5-1-104
County officers - Filling vacancies§ 5-1-105
Suits against counties§ 5-1-106
Suits for use of counties§ 5-1-107
Mandamus to enforce county duties§ 5-1-108
Division into districts§ 5-1-109
Continuation of existing districts§ 5-1-110
District maps and boundariesCite This Page — Counsel Stack
Bluebook (online)
Tennessee § 5-3-121, Counsel Stack Legal Research, https://law.counselstack.com/statute/tn/5-3-121.