reglab/housing_qa huggingface dataset:
TN Code § 9-21-125 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 1 - General Provisions Applicable to All Bonds and Notes Issued by Local Governments|§ 9-21-125. Effectiveness and Priority of Pledges and Liens

   Any pledge of, or lien on, revenues, fees, rents, tolls or other charges received or receivable by any local government to secure the payment of any bonds or notes issued by a local government pursuant to this chapter, and the interest thereon, shall be valid and binding from the time that the pledge or lien is created or granted and shall inure to the benefit of the holder or holders of any such bonds or notes until the payment in full of the principal thereof and premium and interest thereon.   The priority of any pledge or lien with respect to competing pledges or liens shall be determined by the date such pledge or lien is created or granted.   Neither the resolution nor any other instrument granting, creating, or giving notice of the pledge or lien need be filed or recorded to preserve or protect the validity or priority of such pledge or lien.     This section applies to all pledges of and liens on revenues, fees, rents, tolls or other charges received or receivable by any local government to secure the payment of any bonds or notes issued by a local government, whether created or granted before or after May 22, 1991, except such application does not affect the rights of persons to the extent their relative priorities were intended to be fixed by reference to any other provision of law prior to May 22, 1991.
TN Code § 9-21-126 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 1 - General Provisions Applicable to All Bonds and Notes Issued by Local Governments|§ 9-21-126. Advertisements for Sale of Bonds or Notes

 An advertisement for sale of bonds or notes under this chapter may omit the date and time of sale, and in such event, the advertisement for sale shall set forth the manner in which the date and time of sale shall be subsequently published, which may be either by publication:   In the same financial journal and/or newspaper where the advertisement for sale is published; or   Via electronic communication systems deemed proper by the local government which is generally available to the financial community, in either case at least forty-eight (48) hours prior to the time fixed for such sale.
TN Code § 9-21-127 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 1 - General Provisions Applicable to All Bonds and Notes Issued by Local Governments|§ 9-21-127. Bonds for Certain Unfunded Pension Obligations

  Local governments may issue general obligation bonds or revenue bonds under this part and parts 2 and 3 of this chapter for certain unfunded pension obligations or for not greater than fifty percent (50%) of the value of certain unfunded other post-employment benefits if such is approved by the state funding board after receiving a recommendation by the comptroller of the treasury or the comptroller's designee.    A local government that issues bonds for certain unfunded pension obligations pursuant to § 9-21-105(4)(A)(iv) shall not be required to receive a recommendation by the comptroller of the treasury or the comptroller's designee or the approval of the state funding board if:  The principal amount of the bonds is amortized over the term of the bonds such that the bonds are not balloon indebtedness, as defined in subdivision (b)(2); and   The local government has:   Adopted a debt management policy in compliance with guidelines promulgated by the state funding board;   Available for public inspection its financial statements prepared in compliance with generally accepted accounting principles for state and local governments with an unqualified auditor's opinion for the two (2) most recent fiscal years;   Presented to its governing body at a public hearing an explanation of the risk exposure associated with such bonds, economic and demographic assumptions used in the funding assumptions, alternative funding options considered, issuance costs associated with the proposed bonds and any conflicts of interest among the professionals involved (if disclosing such conflicts would not violate any rules of professional conduct);   Engaged or will engage a financial advisor, bond counsel and actuarial consultant in connection with the issuance of such bonds;   A full-time finance staff of at least three (3) persons; and   An audit committee.       As used in this subsection (b), “balloon indebtedness” means any bond:  Twenty percent (20%) or more of the principal amount of which is payable during any twelve-month period; or   Fifty percent (50%) or more of the principal amount of which is payable in the aggregate twenty (20) years or more after the date of issuance.       Notwithstanding any provisions of this chapter to the contrary, any bonds issued pursuant to this section shall mature at such time or times not exceeding thirty (30) years from their respective dates and the proceeds from any bonds issued for certain unfunded other post-employment benefits shall be invested in accordance with an investment trust established pursuant to title 8, chapter 50, part 12.
TN Code § 9-21-128 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 1 - General Provisions Applicable to All Bonds and Notes Issued by Local Governments|§ 9-21-128. Debt Necessary to Fund School Building Improvements, Demolition or New Construction

 Whenever the commissioner of education is authorized by the state board of education to take responsibility for the operation of any local school system or school that has been placed on probation pursuant to title 49, chapter 1, part 6, the state acting under the authority of the state building commission may issue debt necessary to fund school building improvements, demolition or new construction as approved by the commissioner and the state board of education. Such debt may be required to be repaid from any funds available to such local school system.
TN Code § 9-21-129 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 1 - General Provisions Applicable to All Bonds and Notes Issued by Local Governments|§ 9-21-129. Proceeds to Be Shared Among Municipal or Special School District Systems

  Proceeds from the sale of bonds or notes issued pursuant to this chapter by a county or metropolitan government for school capital outlay purposes shall be shared with any municipal or special school district system within the county or metropolitan government on the same basis as is provided in § 49-3-1003. The trustee of the county or the treasurer of the metropolitan government shall pay over to the treasurer of the municipality or the special school district that amount of the proceeds which bears the same ratio to the entire amount of proceeds, net of all costs of issuance and sale of the bonds or notes, as the average daily attendance of the year ending June 30 immediately preceding the receipt of the proceeds of the respective municipality or special school district bears to the average daily attendance for the year ending June 30 immediately preceding the receipt of the proceeds of the entire county or metropolitan government.   The governing body of such municipality or special school district may, by regularly adopted resolution, waive its right to all or a part of any funds due under this section and return the funds to the trustee of the county or the treasurer of the metropolitan government for the purposes originally provided.   The proceeds of any bonds or notes issued for school capital outlay purposes shall not be required to be shared if the county or metropolitan government elects to pay for such bonds or notes pursuant to any applicable provision of § 49-3-1005(b) or (c).   Proceeds required to be shared pursuant to this section shall be shared at the time of the issuance of the bonds or notes.   The proceeds of any refunding bonds and notes issued pursuant to part 9 of this chapter to refund bonds or notes issued for school capital outlay purposes, the proceeds of bonds issued to retire capital outlay notes issued for school capital outlay purposes pursuant to part 6 of this chapter, the proceeds of bonds issued to retire bond anticipation notes issued for school capital outlay purposes, and notes issued to renew other notes issued for school capital outlay purposes, shall not be required to be shared as provided herein, unless the bonds or notes to be refunded, refinanced, renewed or extended are payable from taxes levied only upon a portion of the property in a county or metropolitan government as provided in § 49-3-1005(b), or are payable as provided in § 49-3-1005(c), and the instruments issued to accomplish such refinancing are payable from taxes to be levied on all taxable property in the county or metropolitan government.
TN Code § 9-21-130 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 1 - General Provisions Applicable to All Bonds and Notes Issued by Local Governments|§ 9-21-130. Guidelines and Rules and Regulations Relating to Contracts and Agreements Authorized — Compliance With

  The state funding board shall establish guidelines, rules or regulations with respect to the agreements and contracts authorized in §§ 9-21-213(d), 9-21-302(b), 9-21-305(c), 9-21-602(c), 9-21-907(c), 9-21-910(d), 9-21-1006(c) and 9-21-1008(c), which may include, but shall not be limited to, the following:  The conditions under which such agreements or contracts can be entered into;   The methods by which such contracts are to be solicited and procured;   The form and content such contracts shall take;   The aspects of risk exposure associated with such contracts;   The standards and procedures for counterparty selection, including rating criteria;   The procurement of credit enhancement, liquidity facilities, or the setting aside of reserves in connection with such contracts or agreements;   The methods of securing the financial interest in such contracts;   The methods to be used to reflect such contracts in the local government's financial statements;   Financial monitoring and periodic assessment of such contracts by the local government;   The application and source of non-periodic payments; and   Educational requirements for officials of any local government responsible for approving any such contract or agreement.     Prior to the adoption by the governing body of the local government of a resolution authorizing such contract or agreement, a request shall be submitted to the comptroller of the treasury or the comptroller's designee for a report finding that such contract or agreement is in compliance with the guidelines, rules or regulations of the state funding board. Within fifteen (15) days of receipt of the request, the comptroller of the treasury or the comptroller's designee shall determine whether the contract or agreement substantially complies with the guidelines, rules or regulations and shall report thereon to the local government. If the report of the comptroller of the treasury or the comptroller's designee finds that the contract or agreement complies with the guidelines, rules or regulations of the state funding board or the comptroller of the treasury shall fail to report within the fifteen-day period, then the local government may take such action with respect to the proposed contract or agreement as it deems advisable in accordance with this section and the guidelines, rules or regulations of the state funding board. If the report of the comptroller of the treasury or the comptroller's designee finds that such contract or agreement is not in compliance with the guidelines, rules or regulations, then the local government is not authorized to enter into such contract or agreement. The guidelines, rules or regulations shall provide for an appeal process to a determination of noncompliance.
TN Code § 9-21-131 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 1 - General Provisions Applicable to All Bonds and Notes Issued by Local Governments|§ 9-21-131. Agreements Concerning Rights and Remedies of Parties — Jurisdiction — Applicable Law

 When entering into any contracts or agreements authorized under this chapter, including contracts or agreements providing for liquidity and credit enhancement and reimbursement agreements relating thereto, interest rate swap or exchange agreements, agreements establishing interest rate floors or ceilings or both, other interest rate hedging agreements, evidencing a transaction bearing a reasonable relationship to this state and also to another state or nation, the local government may agree in the written contract or agreement that the rights and remedies of the parties thereto shall be governed by the laws of this state or the laws of such other state or nation; provided, that jurisdiction over any local government against which an action on such a contract or agreement is brought shall lie solely in a court located in Tennessee which would otherwise have jurisdiction of actions brought in contract against such local government.
TN Code § 9-21-132 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 1 - General Provisions Applicable to All Bonds and Notes Issued by Local Governments|§ 9-21-132. Sale of Bonds at Private Sale by Local Government

  A local government shall have discretion until June 30, 2014, to sell bonds at private sale upon terms and conditions that it determines and upon approval by the governing body of the local government.   Subsection (a) shall apply to counties having a population greater than three hundred seven thousand (307,000), according to the 2000 federal census or any subsequent federal census, and the municipality that is the county seat of the county.   Any local government may petition the state funding board for permission to sell specific bonds determined to be required to be sold at taxable interest rates at private sale upon terms and conditions that the local government determines and upon approval by the governing body of the local government.
TN Code § 9-21-201 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 2 - General Obligation Bonds|§ 9-21-201. Authorization for the Issuance of General Obligation Bonds

   Any local government is authorized to issue general obligation bonds under this part and part 1 of this chapter for a public works project.   “General obligation bonds” mean those bonds in which the local government incurs a definite and absolute obligation by pledging the full faith, credit and unlimited taxing power of the local government as to all taxable property in the local government or of a portion of the local government, if applicable, to the payment of the principal of and interest on such bonds.     The bonds may be sold in such blocks as the governing body may by resolution determine.
TN Code § 9-21-202 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 2 - General Obligation Bonds|§ 9-21-202. Sale of General Obligation Bonds at Below Par Value

 All general obligation bonds issued by any local government under the authority of this part and part 1 of this chapter shall be sold for not less than ninety-eight percent (98%) of par value and accrued interest as the governing body of the local government may direct. Nothing in this chapter shall be construed to prevent the sale of particular bonds constituting a part of a single issue or series of bonds at a price below that herein specified, as long as the total price paid by the purchaser for the entire issue or series of bonds offered for sale on any given date shall be not less than ninety-eight percent (98%) of par value of the entire issue or series of bonds and accrued interest; provided, that if any part of such issue or series of such general obligation bonds is to be sold at a zero (0) rate of interest or at an original issue discount, such bonds may be sold at not less than ninety-eight percent (98%) of the original reoffering price of such discount bonds and accrued interest.
TN Code § 9-21-203 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 2 - General Obligation Bonds|§ 9-21-203. Sale of General Obligation Bonds — Notices

 Any local government proposing to sell general obligation bonds, under parts 1 and 2 of this chapter, is authorized to sell such bonds at a competitive public sale. The local government shall publish a notice of sale at least five (5) days prior to the date on which the bonds are to be sold, either in a financial newspaper having national circulation, or via an electronic communication system that is generally available to the financial community. The notice of sale shall set forth the time, date and place of sale, the maximum amount of bonds to be sold, the maximum interest rate, the maximum discount, if any, that will be permitted, in dollars or as a percentage of par value, and the basis upon which the bonds will be awarded. If the principal amount of general obligation bonds to be sold is not greater than five million dollars ($5,000,000), then the notice of sale may be published either as set forth in this section, or in a newspaper having general circulation in the local government.
TN Code § 9-21-204 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 2 - General Obligation Bonds|§ 9-21-204. Sale of General Obligation Bonds to a State or Federal Agency

 If any general obligation bonds are to be sold pursuant to a commitment of a state or federal agency to purchase the same, such bonds may be sold at a private negotiated sale to the state or federal agency without the necessity of any public advertisement of the sale or of the approval of the comptroller of the treasury or the comptroller's designee.
TN Code § 9-21-205 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 2 - General Obligation Bonds|§ 9-21-205. Initial General Obligation Bond Resolution

 Prior to the issuance of general obligation bonds pursuant to this part and part 1 of this chapter, the governing body of the local government shall adopt a resolution (herein referred to as the “initial resolution”) determining to issue the general obligation bonds. The resolution shall state in substance:   The amount or maximum amount of general obligation bonds to be issued;   The public works project or projects for which the general obligation bonds are to be issued;   The rate or maximum rate of interest which the general obligation bonds are to bear; and   A brief concise statement that the general obligation bonds will be payable:  From ad valorem taxes levied upon all the taxable property in the local government or a portion of the local government, if applicable, and, if the latter, then a brief statement or description of such portion of the local government;   From revenues and, in the event of a deficiency in such revenues, from taxes; or   From taxes, and additionally secured by a pledge of revenues.
TN Code § 9-21-206 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 2 - General Obligation Bonds|§ 9-21-206. Publication of Notice

 The initial resolution, together with a notice in substantially the following form, shall be published in full once in a newspaper of general circulation in the local government:   NOTICEThe foregoing resolution has been adopted. Unless within twenty (20) days from the date of the publication hereof, a petition signed by at least ten percent (10%) of the registered voters of the local government, (or the portion thereof being taxed for the bonds) shall have been filed with the (official charged with maintaining the records of the local government) protesting the issuance of the general obligation bonds, such bonds will be issued as proposed.
TN Code § 9-21-207 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 2 - General Obligation Bonds|§ 9-21-207. When an Election Is Necessary

  No election upon a proposition for the issuance of general obligation bonds shall be necessary:  If the general obligation bonds are to be issued for water works or sewerage purposes and if the governing body, by a vote of three-fourths (¾) of its members then in office, determine and declare in the initial resolution that an emergency requires the issuance of such bonds, which determination and declaration shall be conclusive; or   In any case where a petition has not been filed within the time limit specified in § 9-21-206.     If a petition protesting the issuance of the general obligation bonds signed by at least ten percent (10%) of the registered voters of the local government, determined as of the date of publication of the notice required in § 9-21-206, or that portion, if applicable, which is liable to be taxed therefor, is filed with the official charged with maintaining the records of the local government within twenty (20) days from the publication of the initial resolution, then no general obligation bonds shall be issued without the assent of the majority of the registered voters in the local government or a portion of the local government, if applicable, voting upon a proposition for the issuance of the general obligation bonds in the manner provided by §§ 9-21-209 and 9-21-210. The county election commission shall certify to the local government within fifteen (15) days of receipt by the county election commission of any petition filed hereunder, the total number of registered voters as of the date of publication of the notice and the total number of valid signatures of registered voters signing the petition. Registered voters shall not withdraw their signatures from a petition after signing the petition.
TN Code § 9-21-208 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 2 - General Obligation Bonds|§ 9-21-208. Voluntary Election

 If the governing body of the local government makes a decision to issue general obligation bonds for a public works project, and concurrently decides to hold an election for ascertaining the will of the electorate, then it need not adopt and publish an initial resolution and notice, but it shall adopt an election resolution in accordance with § 9-21-209 and it shall hold an election in accordance with § 9-21-210. A governing body may also hold an election for ascertaining the will of the electorate after adoption and publication of an initial resolution, even if no petition has been filed.