Tennessee § 9-21-705 Duration - Extension or renewal

Tennessee Statutes

§ 9-21-705 — Duration - Extension or renewal

Tennessee § 9-21-705

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This text of Tennessee § 9-21-705 (Duration - Extension or renewal) 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. § 9-21-705 (2026).

Text

Grant anticipation notes shall be issued for a period not to exceed three (3) years from the date of issuance; provided, that the comptroller of the treasury or the comptroller's designee may initially approve, or subsequently approve, a maturity date of such notes of not more than seven (7) years from the date of issuance, and may additionally approve a further extension or renewal not to exceed ten (10) years from the date of issuance upon application from the local government, by resolution, certifying that at least ten percent (10%) of the moneys anticipated to be received under the contract or agreement between such state or federal agency and the local government is not expected to be received within seven (7) years following the date of issuance of the notes.

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Grant anticipation notes shall be issued for a period not to exceed three (3) years from the date of issuance; provided, that the comptroller of the treasury or the comptroller's designee may initially approve, or subsequently approve, a maturity date of such notes of not more than seven (7) years from the date of issuance, and may additionally approve a further extension or renewal not to exceed ten (10) years from the date of issuance upon application from the local government, by resolution, certifying that at least ten percent (10%) of the moneys anticipated to be received under the contract or agreement between such state or federal agency and the local government is not expected to be received within seven (7) years following the date of issuance of the notes.