Tennessee Statutes
§ 7-37-109 — Bonds not general obligation
Tennessee·Title 7
No holder or holders of any bonds issued under this chapter shall ever have the right to compel any exercise of taxing power of the municipality to pay the bonds or the interest on the bonds and the bonds shall not constitute an indebtedness of the municipality or a loan of credit of the bond within the meaning of any constitutional or statutory provision. It shall be plainly stated on the face of each bond that it has been issued under this chapter, and that it does not constitute an indebtedness of the municipality or a loan of credit of the bond within the meaning of any constitutional or statutory provision.
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Tennessee § 7-37-109 (Bonds not general obligation) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Acts 1951, ch. 137, § 10 (Williams, § 4406.53j); T.C.A. (orig. ed.), § 6-1709.
Nearby Sections
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§ 7-1-101
Definitions - Chapters 1-6§ 7-1-103
Consolidation of functions§ 7-1-105
Civil districts§ 7-2-102
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