Tennessee § 7-36-117 Bond not debt of state, municipality, or other political subdivision of state

Tennessee Statutes

§ 7-36-117 — Bond not debt of state, municipality, or other political subdivision of state

No owner of any bonds issued under this chapter shall have the right to compel any exercise of the taxing powers of this state, the associated municipality, or any other municipality or political subdivision of this state to pay such bonds or the interest thereon. Each bond issued under this chapter shall recite in substance that such bond, including the interest thereon, is payable solely from the revenues pledged to the payment thereof, and that the bond does not constitute a debt of this state, any municipality, or any other political subdivision of this state.

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No owner of any bonds issued under this chapter shall have the right to compel any exercise of the taxing powers of this state, the associated municipality, or any other municipality or political subdivision of this state to pay such bonds or the interest thereon. Each bond issued under this chapter shall recite in substance that such bond, including the interest thereon, is payable solely from the revenues pledged to the payment thereof, and that the bond does not constitute a debt of this state, any municipality, or any other political subdivision of this state.

Tennessee § 7-36-117 (Bond not debt of state, municipality, or other political subdivision of state) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.