§ 7-37-112 — Interim financing - Certificates

Pending the preparation of the definitive bonds, interim receipts or certificates in such form and with such provisions as the governing body may determine, may be issued to the purchaser or purchasers of bonds sold pursuant to this chapter. The bonds and interim receipts or certificates shall be fully negotiable within the meaning of and for all purposes of the Uniform Commercial Code, compiled in title 47, chapters 1-9.

Legislative History

Acts 1951, ch. 137, § 5 (Williams, § 4406.53e); modified; T.C.A. (orig. ed.), § 6-1712.