Tennessee § 7-40-108 Indebtedness

Tennessee Statutes

§ 7-40-108 — Indebtedness

Tennessee § 7-40-108

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This text of Tennessee § 7-40-108 (Indebtedness) 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. § 7-40-108 (2026).

Text

Any bonds, notes, refunding bonds, or other indebtedness relative to the cost of an economic development project shall not be issued for a term longer than thirty-five (35) years and the municipality or industrial development corporation is authorized to pledge all proceeds or taxes received by it pursuant to this chapter to the payment of principal of and interest on such bonds, notes, or other indebtedness; provided, that the thirty-five-year period in this section shall be concurrent with the time limitation established in § 7-40-106 .

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Any bonds, notes, refunding bonds, or other indebtedness relative to the cost of an economic development project shall not be issued for a term longer than thirty-five (35) years and the municipality or industrial development corporation is authorized to pledge all proceeds or taxes received by it pursuant to this chapter to the payment of principal of and interest on such bonds, notes, or other indebtedness; provided, that the thirty-five-year period in this section shall be concurrent with the time limitation established in § 7-40-106 .