Tennessee § 9-21-1004 Maximum amount of principal for which revenue refunding bonds may be issued

Tennessee Statutes

§ 9-21-1004 — Maximum amount of principal for which revenue refunding bonds may be issued

Tennessee § 9-21-1004

Title9

This text of Tennessee § 9-21-1004 (Maximum amount of principal for which revenue refunding bonds may be issued) 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. § 9-21-1004 (2026).

Text

The principal amount of any issue of revenue refunding bonds shall not exceed the sum of the following:

(1)The principal amount of the outstanding obligations being refinanced;

(2)The redemption premium, if any, thereon;

(3)Unpaid interest on the outstanding obligations being refinanced to the date of delivery or exchange of the revenue refunding bonds;

(4)The interest due and payable on such outstanding obligations, to and including the first or any subsequent available redemption date or dates selected, in its discretion, by the governing body of the local government, or to the date or dates of maturity, whichever shall be determined by the governing body of the local government to be most advantageous or necessary to the local government;

(5)A reasonable reserve for the payment of

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The principal amount of any issue of revenue refunding bonds shall not exceed the sum of the following: (1) The principal amount of the outstanding obligations being refinanced; (2) The redemption premium, if any, thereon; (3) Unpaid interest on the outstanding obligations being refinanced to the date of delivery or exchange of the revenue refunding bonds; (4) The interest due and payable on such outstanding obligations, to and including the first or any subsequent available redemption date or dates selected, in its discretion, by the governing body of the local government, or to the date or dates of maturity, whichever shall be determined by the governing body of the local government to be most advantageous or necessary to the local government; (5) A reasonable reserve for the payment of principal of and interest on the revenue refunding bonds; and (6) Any expenses of the issuance and sale of the revenue refunding bonds, including bond discount, credit enhancement, engraving, printing, and advertising fees, and reasonable and necessary fees of financial and legal advisors, deemed by the governing body to be necessary for the issuance of the revenue refunding bonds.