Tennessee § 9-21-309 Recourse restricted to revenues

Tennessee Statutes

§ 9-21-309 — Recourse restricted to revenues

Tennessee § 9-21-309

Title9

This text of Tennessee § 9-21-309 (Recourse restricted to revenues) 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. § 9-21-309 (2026).

Text

(a)No recourse shall be had for the payment of the revenue bonds, or interest thereon, or any part thereof, against the general funds of any local government, nor shall the full faith and credit or taxing power of any local government be deemed to be pledged to the payment of the revenue bonds.

(b)The revenue bonds, and interest thereon, shall not be a debt of the local government, nor a charge, lien or encumbrance, legal or equitable, upon any property of the local government or upon any income, receipts or revenues of the local government other than the revenues that shall have been pledged to the payment of the revenue bonds. Every revenue bond shall recite in substance that the bond, including interest thereon, is payable solely from the revenues pledged to the payment thereof and th

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(a) No recourse shall be had for the payment of the revenue bonds, or interest thereon, or any part thereof, against the general funds of any local government, nor shall the full faith and credit or taxing power of any local government be deemed to be pledged to the payment of the revenue bonds. (b) The revenue bonds, and interest thereon, shall not be a debt of the local government, nor a charge, lien or encumbrance, legal or equitable, upon any property of the local government or upon any income, receipts or revenues of the local government other than the revenues that shall have been pledged to the payment of the revenue bonds. Every revenue bond shall recite in substance that the bond, including interest thereon, is payable solely from the revenues pledged to the payment thereof and that the local government is under no obligation to pay the same, except from those revenues.