Tennessee § 9-21-1007 Limitation on maturity of bonds to be refunded

Tennessee Statutes

§ 9-21-1007 — Limitation on maturity of bonds to be refunded

Tennessee § 9-21-1007

Title9

This text of Tennessee § 9-21-1007 (Limitation on maturity of bonds to be refunded) 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. § 9-21-1007 (2026).

Text

Unless the outstanding obligations are retired at the time of delivery of the revenue refunding bonds, then the revenue refunding bonds shall not be issued to refund the outstanding obligations unless the outstanding obligations shall mature by their terms or shall be subject to redemption and be called for redemption within ten (10) years from the date of delivery of the revenue refunding bonds. However, this time limitation shall not apply if the comptroller of the treasury or the comptroller's designee approves a greater period in the comptroller of the treasury's or the comptroller's designee's report on the proposed refunding plan.

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Unless the outstanding obligations are retired at the time of delivery of the revenue refunding bonds, then the revenue refunding bonds shall not be issued to refund the outstanding obligations unless the outstanding obligations shall mature by their terms or shall be subject to redemption and be called for redemption within ten (10) years from the date of delivery of the revenue refunding bonds. However, this time limitation shall not apply if the comptroller of the treasury or the comptroller's designee approves a greater period in the comptroller of the treasury's or the comptroller's designee's report on the proposed refunding plan.