reglab/housing_qa huggingface dataset:
TN Code § 9-21-209 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 2 - General Obligation Bonds|§ 9-21-209. Election Resolution

 If it is necessary to hold an election on the proposition to issue general obligation bonds or if the governing body decides to hold an election to ascertain the will of the electorate even if no petition has been filed, then the election shall be called by the governing body of the local government. Such election shall be held as an election on a question by the county election commission pursuant to § 2-3-204. The governing body shall adopt a resolution (herein called the “election resolution”) which shall supersede by its adoption, and immediately upon its adoption, the initial resolution, if any. The election 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;   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;     A proposition to issue the general obligation bonds as it is to appear on the ballot, including the maximum amount of such bonds to be authorized and the public works project or projects for which such bonds are to be issued; and   That the county election commission is to hold the election.
TN Code § 9-21-210 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 2 - General Obligation Bonds|§ 9-21-210. Eligibility to Vote

  For general obligation bonds issued by a local government which are payable from taxes levied upon all taxable property in the local government, any registered voter in the local government may vote in the election.   For general obligation bonds issued by a local government which are payable from taxes levied on only a portion of the local government, any registered voter in that portion of the local government may vote in the election.   Upon receipt of the statement of the votes in the election from the county election commission, the governing body at or before its next regular meeting shall again canvass the returns and determine and declare the results of the election.
TN Code § 9-21-211 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 2 - General Obligation Bonds|§ 9-21-211. Limitation on Election Contests

 No suit, action or other proceeding contesting the validity of the bond election shall be entertained in any of the courts of this state unless such suit, action or other proceeding is commenced within ten (10) days from the date of canvassing of the returns and the determination and declaration of the results thereof by the governing body, whichever is later.
TN Code § 9-21-212 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 2 - General Obligation Bonds|§ 9-21-212. Waiting Period for New Election

 If an election on the proposition to issue general obligation bonds is had and a majority of the registered voters voting on the proposition do not vote in favor of the issuance of the general obligation bonds in question, then the proposition shall not again be the subject of an initial resolution until three (3) months have expired from the date of such election.
TN Code § 9-21-215 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 2 - General Obligation Bonds|§ 9-21-215. Tax Resolution — Levy for Payment of General Obligation Bonds

  At any time before delivering any general obligation bonds to be issued pursuant to this part and part 1 of this chapter, the governing body shall adopt a resolution (herein called the “tax resolution”) which shall recite in substance that adequate provision will be made for raising annually by tax upon the taxable property in the local government or a portion of the local government, if applicable, of a sum sufficient to pay the principal of and interest on the general obligation bonds as the same shall become due.   A tax sufficient to pay when due the principal of and interest on the general obligation bonds shall be levied annually and assessed, collected and paid, in like manner with the other taxes of the local government and shall be in addition to all other taxes authorized or limited by law. It is the duty of the governing body to include in the annual levy a tax sufficient to pay the principal of and interest on the general obligation bonds as the same become due; provided, that if the bonds are payable from taxes and additionally secured by a pledge of revenues, and if the tax resolution shall so provide, then the tax to be levied and assessed by the governing body may be reduced by such amount and under such conditions as may be determined in the tax resolution. When any part of the principal of or interest on any general obligation bonds issued by any local government pursuant to this part and part 1 of this chapter, not payable exclusively from the revenues of a public works project, are not paid when due, there shall be levied and assessed by the governing body and collected by the proper collecting officers at the first assessment, levy and collection of taxes in the local government after such omission or failure, a tax sufficient to pay the same.   If the general obligation bonds are issued to finance the cost of a public works project pursuant to a plan of improvement for a central business improvement district created pursuant to the Central Business Improvement District Act of 1971, compiled in title 7, chapter 84, the local government may, nevertheless, proceed to levy and collect assessments pursuant to the Central Business Improvement District Act; and the proceeds of such assessments when collected, other than amounts required to pay the principal of and interest on the bonds, shall be paid into the treasury of the local government and used to reimburse the treasury for any amounts paid out of the treasury to pay the principal of and interest on such bonds; and such moneys reimbursed to the treasury may be used, under the direction of the governing body of the local government, for any lawful corporate purpose for which taxes may be legally levied and collected.
TN Code § 9-21-216 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 2 - General Obligation Bonds|§ 9-21-216. Remedies of General Obligation Bondholders

 Any holder of general obligation bonds issued pursuant to parts 1 and 2 of this chapter has the right, in addition to all other rights:   By mandamus or other suit, action or proceeding in any court of competent jurisdiction to enforce such holder's rights against the local government, the governing body of the local government and any officer, agent, or employee of the local government, including, but not limited to, the right to require the local government, the governing body and any proper officer, agent or employee of the local government to assess, levy and collect taxes, and to fix and collect fees, rents, tolls, or other charges adequate to carry out any agreement as to, or pledge of, such taxes, fees, rents, tolls, or other charges, and to require the local government, the governing body of the local government and any officer, agent or employee of the local government to carry out any other covenants and agreements and to perform its and their duties under this chapter. No holder or holders of bonds payable exclusively from the revenues of a public works project shall ever have the right to compel the levying and collection of taxes to pay such bonds and the interest thereon; and   By action or suit in equity, to enjoin any acts or things which may be unlawful or a violation of the rights of such holder or holders of general obligation bonds.
TN Code § 9-21-301 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 3 - Revenue Bonds|§ 9-21-301. Authorization for the Issuance of Revenue Bonds

  Any local government is authorized to issue revenue bonds under this part and part 1 of this chapter for a public works project. “Revenue bonds” are defined as those bonds which are payable exclusively from the revenues of one (1) or more public works projects.   The bonds may be sold in such blocks as the governing body may by resolution determine.
TN Code § 9-21-302 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 3 - Revenue Bonds|§ 9-21-302. Sale of Revenue Bonds — Agreements Regarding Dates of Delivery

  Any local government proposing to sell revenue bonds under this part and part 1 of this chapter is authorized to sell such bonds either at a competitive public sale or at a private negotiated sale as the governing body of the local government may direct.   The governing body of a local government may enter into an agreement to sell its revenue bonds under this part providing for delivery of its bonds on a date greater than ninety (90) days and not greater than five (5) years (or such greater period of time if approved by the comptroller of the treasury or the comptroller's designee) from the date of execution of such agreement only upon receipt of a report of the comptroller of the treasury or the comptroller's designee finding that such an agreement or contract of a local government to sell its revenue bonds as authorized in this subsection (b) is in compliance with the guidelines, rules or regulations adopted or promulgated by the state funding board in accordance with § 9-21-130. Agreements to sell revenue bonds for delivery ninety (90) days or less from the date of execution of the agreement to sell the revenue bonds do not require a report of the comptroller of the treasury or the comptroller's designee.
TN Code § 9-21-303 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 3 - Revenue Bonds|§ 9-21-303. Sale of Revenue Bonds at Below Par Value

 All revenue 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-seven percent (97%) 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 is not less than ninety-seven percent (97%) of the 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 revenue bonds is to be sold at a zero (0) rate of interest or at an original issue discount, such bonds may be sold at less than ninety-seven percent (97%) of the original reoffering price of such discount bonds and accrued interest.
TN Code § 9-21-304 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 3 - Revenue Bonds|§ 9-21-304. Initial Revenue Bond Resolution

  Prior to the issuance of any revenue 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 revenue bonds.   The initial resolution shall state in substance:  The amount or maximum amount of revenue bonds to be issued;   The public works project or projects for which the revenue bonds are to be issued, but if the bonds are to be issued for more than one (1) project, the initial resolution need not state the amount which will be used for each project;   The rate or maximum rate of interest which the revenue bonds are to bear; and   A brief concise statement that the revenue bonds will be payable exclusively from revenues of the public works project or projects.     The initial resolution shall be published in full once in a newspaper of general circulation in the local government.
TN Code § 9-21-305 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 3 - Revenue Bonds|§ 9-21-305. Terms of Revenue Bonds

  The revenue bonds may be sold in one (1) or more series, may bear such date or dates, shall mature at such time or times, not exceeding forty (40) years from their respective dates, may bear interest at a zero (0) rate or at such other rate or rates (which may vary from time to time), may be payable at such time or times, may be in such denomination or denominations, may be in such form, either coupon or registered, may carry such registration and conversion privileges, may be executed in such manner, may be payable in such medium of payment at such place or places, may be subject to such terms of redemption, with or without premium, and may provide for the replacement of mutilated, destroyed, stolen, or lost bonds, all as may be provided by resolution of the governing body of the local government. The term of the revenue bonds shall not exceed the reasonably expected economic life of the project being financed with such bonds, as stated in the resolution authorizing the revenue bonds. An erroneous estimate of the reasonably expected economic life of the project shall in no way affect the validity of such bonds.   A revenue bond issue may be delivered as an installment bond payable as to principal and interest in equal or approximately equal installments for the term of the bond issue in accordance with the resolution authorizing the bond issue. The authorizing resolution shall stipulate the annual principal and interest requirements during the full term of the installment bond issue.   With respect to all or any portion of any issue of revenue bonds issued or anticipated to be issued hereunder, at any time during the term of the revenue bonds, and upon receipt of a report of the comptroller of the treasury or the comptroller's designee finding that the contracts and agreements authorized herein are in compliance with the guidelines, rules or regulations adopted or promulgated by the state funding board, as set forth in § 9-21-130, a local government by resolution may authorize and enter into interest rate swap or exchange agreements, agreements establishing interest rate floors or ceilings or both, and other interest rate hedging agreements under such terms and conditions as the governing body of the local government may determine, including, without limitation, provisions permitting the local government to pay to or receive from any person or entity any loss of benefits under such agreement upon early termination thereof or default under such agreement.
TN Code § 9-21-307 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 3 - Revenue Bonds|§ 9-21-307. Revenue Bonds of the Same Issue Shall Be Equally and Ratably Secured

 All revenue bonds of the same issue shall be equally and ratably secured, without priority by reason of number, date of bonds, date of sale, date of execution, or of delivery, by a lien upon the revenues of the public works project or projects, the revenues of which are pledged to the payment of such bonds, in accordance with this part and the resolution authorizing the issuance of the revenue bonds.
TN Code § 9-21-309 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 3 - Revenue Bonds|§ 9-21-309. Recourse Restricted to Revenues

  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.   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.
TN Code § 9-21-310 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 3 - Revenue Bonds|§ 9-21-310. Remedies of Revenue Bondholders

 Subject to any contractual limitations binding upon the holders of any issue of revenue bonds, or trustee therefor, including, but not limited to, the restriction of the exercise of any remedy to a specified proportion or percentage of such holders, any holder of revenue bonds, or trustee therefor, shall have the right and power, for the equal benefit and protection of all holders of revenue bonds similarly situated and, in addition to all other rights:   By mandamus or other suit, action or proceeding at law or in equity, to enforce such rights against the local government and its governing body and any of its officers, agents and employees and to require and compel the local government or the governing body or its officers, agents or employees to perform and carry out its and their duties and obligations under this part and part 1 of this chapter and its and their covenants and agreements with revenue bondholders;   By action or suit in equity, to require the local government and the governing body thereof to account as if they were the trustee of an express trust;   By action or by suit in equity, to enjoin any acts or things which may be unlawful or in violation of the rights of the revenue bondholders; and   To bring suit upon the revenue bonds.
TN Code § 9-21-311 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 3 - Revenue Bonds|§ 9-21-311. Appointment of Receiver on Default

  In the event that the local government shall default in the payment of the principal of or interest on any of the revenue bonds after the same shall become due, whether at maturity or upon call for redemption, and the default shall continue for a period of thirty (30) days, or in the event that the local government or the governing body or its officers, agents or employees shall fail or refuse to comply with this chapter or shall default in any agreement made with the holders of the revenue bonds, then any holder of revenue bonds, or trustee therefor, shall have the right to file a petition in the nature of a general creditor's bill in the chancery court of the county in which the public works project is situated, or if the public works project is situated in more than one (1) county, in the chancery court of any county in which any portion of the public works project is situated, or in any court of competent jurisdiction, for the appointment of a receiver of the public works project. The petition may be filed whether or not all the revenue bonds have been declared due and payable and whether or not the holder or holders or trustee therefor is seeking or has sought to enforce any other right, or exercise any remedy in connection with the revenue bonds.   Upon application, the chancery court may appoint a receiver of the public works project. The chancery court shall appoint a receiver of the public works project if the application is made by the holders of twenty-five percent (25%) in principal amount of the revenue bonds then outstanding or by any trustee for holders of the revenue bonds in that principal amount.
TN Code § 9-21-312 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 3 - Revenue Bonds|§ 9-21-312. Judicial Supervision of Receiver

 The receiver shall, in the performance of the powers conferred upon such receiver, act under the direction and supervision of the court making the appointment, and shall at all times be subject to the orders and decrees of the court, and may be removed by the court. Nothing contained in this chapter shall limit or restrict the jurisdiction of the court to enter such other and further orders and decrees as the court may deem necessary or appropriate for the exercise by the receiver of any functions specifically set forth in this part.
TN Code § 9-21-313 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 3 - Revenue Bonds|§ 9-21-313. Duties of Receiver

 It is the duty of a receiver to:   Immediately, either directly or through agents and attorneys, enter and take possession of each and every part of the public works project;   Have, hold, use, operate, manage and control the public works project in the name of the local government or otherwise, as the receiver may deem best;   Exercise all the rights and powers of the local government with respect to the public works project which the local government itself might exercise;   Maintain, restore, insure and keep insured the public works project and from time to time shall make all necessary or proper repairs as the receiver may deem expedient;   Establish, levy, maintain and collect such fees, tolls, rentals, and other charges in connection with the public works project as the receiver may, subject to approval of the court, deem necessary or proper and reasonable; and   Deposit the revenues in a separate account and apply the revenues so collected and received in such manner as the court shall direct.
TN Code § 9-21-314 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 3 - Revenue Bonds|§ 9-21-314. Sale of Assets by Receiver Prohibited

 Notwithstanding § 9-21-313, the receiver shall have no power to sell, assign, mortgage or otherwise dispose of any assets of whatever kind or character belonging to the local government or any local government instrumentality and useful for the public works project. The authority of any receiver shall be limited to the operation and maintenance of the public works project, and no court shall have jurisdiction to enter any order or decree requiring or permitting the receiver to sell, mortgage, or otherwise dispose of any such assets.
TN Code § 9-21-315 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 3 - Revenue Bonds|§ 9-21-315. Surrender of Possession by Receiver

 Whenever all that is due upon the revenue bonds, and interest thereon, and upon any other obligations, and interest thereon, having a charge, lien, or encumbrance on the revenues of the public works project and under any of the terms of any covenants or agreements with bondholders shall have been paid or deposited as provided herein, and all defaults shall have been cured and made good, the court may in its discretion, and after such notice and hearing as it deems reasonable and proper, direct the receiver to surrender possession of the public works project to the local government. Upon any subsequent default, the holders of the revenue bonds shall have the same right to secure the appointment of a receiver as provided in this part.