reglab/housing_qa huggingface dataset:
TN Code § 9-21-608 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 6 - Capital Outlay Notes|§ 9-21-608. Twelve-Year Capital Outlay Notes

 Capital outlay notes issued pursuant to this section may be issued for a period greater than the end of the third fiscal year following the fiscal year in which the notes were issued, but not greater than the end of the twelfth fiscal year following the fiscal year in which the notes were issued. Each fiscal year any such notes are outstanding following the fiscal year in which the notes were issued, the local government shall retire principal on the notes in an amount that is estimated to be at least equal to an amortization that will reflect level debt service of the note issue, as established at the time of the sale and as indicated in the resolution authorizing the notes, or as otherwise approved by the comptroller of the treasury or the comptroller's designee; provided, that all such notes shall be retired in no event greater than the twelfth fiscal year following the fiscal year in which the notes were issued. The resolutions authorizing any such issue of notes shall provide for principal of the notes to be payable annually, either by maturity or by mandatory redemption. The comptroller of the treasury or the comptroller's designee, in approving any such notes, may waive the requirement of periodic retirement. The resolution authorizing such issue of notes may provide that the notes shall be subject to redemption prior to maturity at the option of the local government. Notes issued pursuant to this section totaling two million dollars ($2,000,000) or less shall be sold at competitive public sale or by the informal bid process described in § 9-21-609. Notes issued pursuant to this section totaling greater than two million dollars ($2,000,000) shall be sold at competitive sale.
TN Code § 9-21-610 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 6 - Capital Outlay Notes|§ 9-21-610. Application for Extension or Renewal of Capital Outlay Notes Issued for Greater Than Three (3) Years but Not Greater Than Twelve (12) Years — Renewal of Notes

  Application to the comptroller of the treasury or the comptroller's designee for an extension or renewal of the maturity date of capital outlay notes described in § 9-21-608 shall be by resolution of the governing body of the local government, and such extension or renewal shall not extend the final maturity date of the notes beyond the end of the twelfth fiscal year following the first fiscal year in which the notes were issued. If the requested extension is for a period greater than three (3) years, then the local government must comply with § 9-21-609(b) and (c) prior to the issuance of the renewal or extension notes.   No capital outlay notes shall be converted to bonds later than two (2) years following the date of original issuance of such notes without the approval of the comptroller of the treasury or the comptroller's designee; provided, that at or prior to the maturity date or extended maturity date of the capital outlay notes, any such notes then outstanding shall be retired from funds of the local government or be converted to bonds under chapter 11 of this title, or any other law, or be otherwise liquidated as approved by the comptroller of the treasury or the comptroller's designee.
TN Code § 9-21-611 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 6 - Capital Outlay Notes|§ 9-21-611. Capital Outlay Notes Issued Solely to the Environmental Protection Agency

  Capital outlay notes issued solely to the environmental protection agency of the United States (EPA) under the Asbestos in School Hazard Abatement Program (20 U.S.C. § 4011 et seq.) may be issued for a period not to exceed twenty (20) years from the date of issue. The resolution authorizing any such issue of notes shall provide for the notes to mature serially and may provide that the notes shall be subject to redemption prior to maturity at the option of local government. The comptroller of the treasury or the comptroller's designee in approving any such notes may waive the requirement of periodic retirement.   All capital outlay notes issued prior to June 8, 1989, and all proceedings theretofore taken to authorize the issuance of such notes by any local government to the EPA for the asbestos in school hazard abatement program of the EPA are hereby ratified, validated and confirmed, and such notes are hereby declared to be valid and legally binding obligations payable in accordance with their terms, notwithstanding any lack of power of the governing body of the local government to authorize or issue such notes and to provide for the payment thereof in the manner stated in such notes and in the proceedings authorizing their issuance, and notwithstanding any defects or irregularities in any such proceedings or the failure of any such proceedings authorizing any such notes to comply with this chapter or any applicable general or special law.
TN Code § 9-21-612 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 6 - Capital Outlay Notes|§ 9-21-612. Refunding of Capital Outlay Notes

 Capital outlay notes issued pursuant to this part and general obligation bonds may be refunded by issuing capital outlay notes under this part, in accordance with the requirements and procedures set forth in this part and in §§ 9-21-903, 9-21-904, 9-21-910, 9-21-912, 9-21-913 and 9-21-914. The final maturity date of the refunding notes shall not be later than the final maturity date of the notes being refunded or the bonds being refunded, unless otherwise approved by the comptroller of the treasury or the comptroller's designee.
TN Code § 9-21-701 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 7 - Grant Anticipation Notes|§ 9-21-701. Authorization for the Issuance of Grant Anticipation Notes

 The governing body of a local government, acting by resolution, is hereby authorized to issue and sell interest-bearing grant anticipation notes for public works projects secured solely by a pledge of moneys, which pledge shall not be less than the principal amount of such notes, to be received pursuant to a contract or agreement between a state or federal agency and the local government. The resolution shall not be effective until the contract or agreement between the state or federal agency and the local government has been executed by all parties to the contract or agreement. The sale of all interest-bearing grant anticipation notes shall first be approved by the comptroller of the treasury or the comptroller's designee.
TN Code § 9-21-702 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 7 - Grant Anticipation Notes|§ 9-21-702. Terms of Grant Anticipation Notes

 Grant anticipation notes shall be sold at not less than par value and accrued interest. Grant anticipation notes may be sold in one (1) or more series, may bear such date or dates, shall mature at such time or times, may bear interest at such 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 be payable at such place or places, may be executed in such manner, may be payable in such medium of payment, may be subject to such terms of redemption, without premium, at the option of the local government as grant funds become available for such purpose, all as may be provided by resolution of the governing body of the local government.
TN Code § 9-21-703 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 7 - Grant Anticipation Notes|§ 9-21-703. Method of Sale of Grant Anticipation Notes

 Grant anticipation notes may be sold in such manner either at a competitive public sale or at a private negotiated sale as the governing body of the local government may direct.
TN Code § 9-21-704 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 7 - Grant Anticipation Notes|§ 9-21-704. Security for Grant Anticipation Notes

 The principal of grant anticipation notes shall not be direct general obligations of the local government, and the local government shall have no authority to levy ad valorem taxes for the payment of the principal of such notes; provided, that interest on grant anticipation notes may be a general obligation of a local government, and the local government shall have the authority to levy ad valorem taxes for the payment of interest on such notes. When the grant anticipation notes are issued and sold, they shall be secured solely by a pledge of moneys, which pledge shall not be less than the principal amount of such notes, to be received pursuant to a contract or agreement between a state or federal agency and the local government. Nothing herein shall preclude a local government from issuing capital outlay notes or bond anticipation notes in conjunction with grant anticipation notes issued under this section; provided, that the proceeds from the sale of any such capital outlay notes or bond anticipation notes shall not be applied to the payment of such grant anticipation notes.
TN Code § 9-21-705 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 7 - Grant Anticipation Notes|§ 9-21-705. Duration — Extension or Renewal

 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.
TN Code § 9-21-801 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 8 - Tax Anticipation Notes|§ 9-21-801. Authorization, Security, and Retirement of Tax Anticipation Notes

 The governing body of a local government may issue interest-bearing tax anticipation notes for the purpose of meeting appropriations made for the current fiscal year in anticipation of the collection of taxes and revenues of that fiscal year in amounts not exceeding sixty percent (60%) of such appropriation; provided, that the sale of the notes shall first be approved by the comptroller of the treasury or the comptroller's designee. The notes may be renewed from time to time and money may be borrowed from time to time for the payment of any indebtedness evidenced thereby, but all such notes shall mature not later than the close of the current fiscal year. If taxes and revenues are found to be overestimated and it becomes impossible to pay the notes prior to the close of the current fiscal year, application shall be made to the comptroller of the treasury or the comptroller's designee within ten (10) days prior to the close of the current fiscal year for permission to issue funding bonds to cover the unpaid note balances in the manner provided by chapter 11 of this title, or as otherwise provided for in a manner approved by the comptroller of the treasury or the comptroller's designee.
TN Code § 9-21-802 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 8 - Tax Anticipation Notes|§ 9-21-802. Terms of Tax Anticipation Notes

 Tax anticipation notes shall be sold at not less than par value and accrued interest. Tax anticipation notes may be sold in one (1) or more series, may bear such date or dates, may bear interest at such 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 be payable at such place or places, may be executed in such manner, may be payable in such medium of payment, may be subject to such terms of redemption, without a premium, all as may be provided by resolution of the governing body of the local government.
TN Code § 9-21-803 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 8 - Tax Anticipation Notes|§ 9-21-803. Method of Sale of Tax Anticipation Notes

 Tax anticipation notes may be sold in such manner either at a competitive public sale or at a private negotiated sale as the governing body of the local government may direct.
TN Code § 9-21-901 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 9 - General Obligation Refunding Bonds|§ 9-21-901. Authorization to Issue General Obligation Refunding Bonds

  Any local government has the power and is authorized to issue, by resolution, general obligation refunding bonds to refund outstanding obligations heretofore or hereafter lawfully issued or assumed by the local government, and to provide for the rights of the holders thereof and to secure such bonds as provided in this part and part 1 of this chapter.   General obligation refunding bonds issued hereunder and secured by the full faith and credit and unlimited taxing power of the local government shall be for the purpose of:  Refunding outstanding obligations which are secured by a pledge of the full faith and credit and unlimited taxing power of the local government;   Refunding outstanding obligations secured by a pledge of revenues in addition to the full faith and credit pledge; or   Refunding outstanding obligations secured solely by the revenues of a public works project.     General obligation refunding bonds may be issued to refinance more than one (1) issue of outstanding obligations, notwithstanding that such obligations may have been issued at different times.   The resolution authorizing general obligation refunding bonds may also provide for other bonds to be issued jointly with such refunding bonds.
TN Code § 9-21-902 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 9 - General Obligation Refunding Bonds|§ 9-21-902. Determination by Governing Body to Be Conclusive

 A determination by the governing body that any refunding is advantageous or necessary to the local government, or that any of the amounts provided in § 9-21-904 should be included in such refunding, or that any of the outstanding obligations should be called for redemption on the first or any subsequent available redemption date or permitted to remain outstanding until their respective dates of maturity, shall be conclusive. However, the determination as to whether the general obligation refunding bonds can be sold at a private negotiated sale is subject to § 9-21-910(c).
TN Code § 9-21-904 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 9 - General Obligation Refunding Bonds|§ 9-21-904. Maximum Amount of Principal for Which General Obligation Refunding Bonds May Be Issued

  The principal amount of any issue of general obligation refunding bonds shall not exceed the sum of the following:  The principal amount of the outstanding obligations to be refunded; provided, that general obligation refunding bonds may be issued in such amounts to permit any part of the bonds to reflect a zero (0) rate of interest on an original issue discount;   The redemption premium, if any, thereon;   The interest due and payable on such outstanding obligations to and including the first or any subsequent available redemption date or dates selected, in its discretion, by the governing body, or to the date or dates of maturity, whichever shall be determined by the governing body to be most advantageous or necessary to the local government; and   Any expenses of the issuance and sale of such general obligation refunding bonds, including bond discount, credit enhancement, engraving, printing, and advertising fees, the creation of initial debt service reserve funds, and reasonable and necessary fees of financial and legal advisors deemed by the governing body to be necessary for the issuance of the general obligation refunding bonds.     Any money in a sinking or reserve fund or other fund for the obligations to be refunded may be used for the purposes stated in subdivisions (a)(1)-(4) or may be deposited in a sinking fund or reserve fund or other fund for the refunding bonds.
TN Code § 9-21-905 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 9 - General Obligation Refunding Bonds|§ 9-21-905. Initial Resolution and Election Requirements — When Required

 If the general obligation refunding bonds shall be payable from ad valorem taxes without limitation of rate or amount and the outstanding obligations to be refunded are secured solely by the revenues of a public works project, then an initial resolution authorizing general obligation refunding bonds shall be adopted in conformance with § 9-21-205 and shall conform to § 9-21-206 requiring publication of the resolution and the notice therein required. Sections 9-21-207 and 9-21-209 — 9-21-212, governing election requirements and procedures, and § 9-21-215, governing the adoption of a tax resolution by the governing body of the local government, shall also apply. If the refunding bonds will be secured in the same manner as the bonds being refunded, an initial resolution need not be adopted.
TN Code § 9-21-906 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 9 - General Obligation Refunding Bonds|§ 9-21-906. Sale of General Obligation Refunding Bonds at Below Par Value

 All general obligation refunding 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 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 general obligation refunding bonds are 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 § 9-21-907 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 9 - General Obligation Refunding Bonds|§ 9-21-907. Terms of General Obligation Refunding Bonds

  The general obligation refunding 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 a 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.   A general obligation refunding 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 installment 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 bond issue.   With respect to all or any portion of any issue of general obligation refunding bonds issued or anticipated to be issued hereunder, at any time during the term of the general obligation refunding 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 § 9-21-908 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 9 - General Obligation Refunding Bonds|§ 9-21-908. Limitation on Maturity of Bonds to Be Refunded

 Unless the outstanding obligations are retired at the time of delivery of the general obligation refunding bonds, then the general obligation refunding bonds shall not be issued to refund the outstanding obligations unless the outstanding obligations shall mature by their terms, or shall be subject to redemption and be called for redemption within ten (10) years from the date of delivery of the general obligation refunding bonds. However, this time limitation shall not apply if the comptroller of the treasury or the comptroller's designee approves a greater period in the comptroller of the treasury's or the comptroller's designee's report on the proposed refunding plan.
TN Code § 9-21-909 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 9 - General Obligation Refunding Bonds|§ 9-21-909. Installment Sales and Exchanges

 General obligation refunding bonds may be sold or exchanged in installments at different times or an entire issue or series may be sold or exchanged at one (1) time. Any issue or series of general obligation refunding bonds may be exchanged in part or sold in part in installments at different times or at one (1) time. The general obligation refunding bonds may be sold or exchanged at any time on, before, or after the maturity of any of the outstanding obligations to be refunded.
TN Code § 9-21-911 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 9 - General Obligation Refunding Bonds|§ 9-21-911. Sale of General Obligation Refunding Bonds to a State or Federal Agency

 If any general obligation refunding 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.