United States — Tennessee
TCA § 9-20-106 — Administration of part
1 provisions
This chapter is to be administered under the Uniform Administrative Procedures Act in title 4, chapter 5.
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United States — Tennessee
TCA § 9-21-1001 — Authorization to refinance and to issue revenue refunding bonds
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A local government may issue revenue refunding bonds by resolution to refinance certain outstanding obligations and may structure the bonds and related enterprises as described here.
Act or statute Open & ChatUnited States — Tennessee
TCA § 9-21-1002 — Determination by governing body to be conclusive
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A governing body’s determination about refunding, included amounts, or redemption timing is conclusive.
Act or statute Open & ChatUnited States — Tennessee
TCA § 9-21-1003 — Plan of refunding to be submitted to the comptroller of the treasury or the comptroller's designee
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Before revenue refunding bonds are authorized, the refunding plan must be reviewed by the comptroller or designee, who must acknowledge receipt in writing.
Act or statute Open & ChatUnited States — Tennessee
TCA § 9-21-1004 — Maximum amount of principal for which revenue refunding bonds may be issued
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A revenue refunding bond issue cannot be larger than the listed sum of refinancing-related amounts.
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TCA § 9-21-1005 — Sale of revenue refunding bonds at below par value
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Local governments must sell revenue refunding bonds for at least 97% of par value plus accrued interest, with limited exceptions.
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TCA § 9-21-1006 — Terms of revenue refunding bonds — Interest rate agreements
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Local governments may authorize and enter into certain interest rate hedging agreements for revenue refunding bonds, subject to specified conditions.
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TCA § 9-21-1007 — Limitation on maturity of bonds to be refunded
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Revenue refunding bonds cannot be issued to refund outstanding obligations unless the obligations mature or are called for redemption within 10 years, unless a greater period is approved by the comptroller of the treasury or the comptroller’s designee.
Act or statute Open & ChatUnited States — Tennessee
TCA § 9-21-1008 — Sale or exchange of revenue refunding bonds — Agreements to sell
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Local governments may sell revenue refunding bonds by competitive public sale or private negotiated sale, and may exchange them privately in some cases.
Act or statute Open & ChatUnited States — Tennessee
TCA § 9-21-1009 — Installment sales or exchanges
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Revenue refunding bonds may be sold or exchanged in installments, in part, or as a whole issue at one time.
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TCA § 9-21-101 — Short title
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This chapter may be cited as the “Local Government Public Obligations Act of 1986.”
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TCA § 9-21-1010 — Notice of refunding
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The governing body must give notice before issuing revenue refunding bonds if the refunded obligations will not be retired or redemption notice has not been properly given.
Notice Open & ChatUnited States — Tennessee
TCA § 9-21-1011 — Notice of redemption
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If refunded obligations are called for redemption, the governing body must give notice of redemption as required by the authorizing resolution or ordinance.
Notice Open & ChatUnited States — Tennessee
TCA § 9-21-1012 — Application of proceeds of sale of revenue refunding bonds
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Revenue refunding bond proceeds must be used only for refunded debt, escrowed with a qualifying bank or trust company, and reported on a set schedule.
Act or statute Open & ChatUnited States — Tennessee
TCA § 9-21-1013 — Powers to secure and to covenant as to revenue refunding bonds
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Local governments may use and secure revenue refunding bonds by pledging revenues, setting bond terms, making covenants, and taking other needed actions.
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TCA § 9-21-1014 — Revenue refunding bonds of the same issue shall be equally and ratably secured
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Revenue refunding bonds of the same issue must be equally and ratably secured.
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TCA § 9-21-1015 — Rates prescribed sufficient to produce sufficient revenues
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The governing body must set, collect, and adjust reasonable enterprise rates, fees, or charges so the enterprise stays self-supporting.
Act or statute Open & ChatUnited States — Tennessee
TCA § 9-21-1016 — Recourse restricted to revenues
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Revenue refunding bonds are payable only from pledged revenues, not from a local government's general funds or general credit.
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TCA § 9-21-1017 — Remedies of revenue refunding bondholders
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Holders of revenue refunding bonds get the rights given to holders of revenue bonds, and a receiver’s powers and duties are governed by other listed sections if appointed.
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TCA § 9-21-102 — Intent
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This chapter is meant to let local governments issue specified bonds and notes for public works, pensions, refunding, capital outlay, grants, taxes, and health care.
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