reglab/housing_qa huggingface dataset:
TN Code § 9-21-912 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 9 - General Obligation Refunding Bonds|§ 9-21-912. Notice of Refunding

 If, at the time of delivery of the general obligation refunding bonds, the obligations to be refunded will not be retired or a valid and timely notice of redemption of the outstanding obligations is not given in accordance with the resolution, indenture or other instrument governing the redemption of the outstanding obligations, then, prior to the issuance of the general obligation refunding bonds, the governing body shall cause to be given a notice of its intention to issue the general obligation refunding bonds. The notice shall be given either by mail to the owners of all the outstanding obligations to be refunded at their addresses shown on the bond registration records for the outstanding obligations or given by publication one (1) time each in a newspaper having a general circulation in the local government and in a financial newspaper published in New York, New York, having a national circulation. The notice shall set forth the estimated date of delivery of the general obligation refunding bonds and identify the obligations, or the individual maturities thereof, proposed to be refunded; provided, that if portions of individual maturities are proposed to be refunded, the notice shall identify the maturities subject to partial refunding and the aggregate principal amount to be refunded within each maturity. If the issuance of the general obligation refunding bonds does not occur as provided in the notice, the governing body shall cause notice thereof to be given as provided above. Except as otherwise set forth in this section, the notice required pursuant to this section shall be given whether or not any of the obligations to be refunded are to be called for redemption.
TN Code § 9-21-913 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 9 - General Obligation Refunding Bonds|§ 9-21-913. Notice of Redemption

 If any of the obligations to be refunded are to be called for redemption, the governing body shall cause the notice of redemption to be given in the manner and at the time required by the resolution or ordinance authorizing such outstanding obligations.
TN Code § 9-21-916 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 9 - General Obligation Refunding Bonds|§ 9-21-916. Remedies of General Obligation Refunding Bondholders

 Any holder of general obligation refunding bonds issued pursuant to this part and part 1 of this chapter shall have all rights provided in § 9-21-216, in addition to all other rights provided by law.
TN Code § 9-21-1001 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 10 - Revenue Refunding Bonds|§ 9-21-1001. Authorization to Refinance and to Issue Revenue Refunding Bonds

  Any local government has the power and is authorized to issue by resolution revenue refunding bonds to refinance outstanding obligations heretofore or hereafter issued or lawfully assumed by the local government which are payable solely from all or any part of the revenues of one (1) or more enterprises, or from a combination of such revenues and taxes, to refinance any enterprise or combination of enterprises, and for such purpose or purposes to combine or divide any two (2) or more enterprises, 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.   No revenue refunding bonds shall be issued under this part and part 1 of this chapter, unless the governing body of the local government shall make a finding, which finding shall be conclusive, that one (1) or more of the following purposes will be accomplished:  Cost savings to the public;   Removal or modification of one (1) or more restrictive covenants; or   Payment or discharge of all or any part of an issue or series of outstanding obligations, including any interest thereon, in arrears or to become due and for the payment of which sufficient funds are not available.     Revenue refunding bonds may be issued to refinance more than one (1) issue of outstanding obligations, notwithstanding that such outstanding obligations may have been issued at different times and may be secured by the revenues of different enterprises; and any such enterprises may be operated as a single enterprise, subject to contract rights vested in the holders of obligations being refinanced.   The resolution authorizing revenue refunding bonds may also provide for other bonds to be issued jointly with the revenue refunding bonds.
TN Code § 9-21-1002 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 10 - Revenue Refunding Bonds|§ 9-21-1002. 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 § 9-21-1004 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.
TN Code § 9-21-1003 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 10 - Revenue Refunding Bonds|§ 9-21-1003. Plan of Refunding to Be Submitted to the Comptroller of the Treasury or the Comptroller's Designee

  Prior to the adoption by the governing body of the resolution authorizing the issuance of revenue refunding bonds, a plan of refunding shall be submitted for review to the comptroller of the treasury or the comptroller's designee, who shall immediately acknowledge receipt in writing of the proposed plan of refunding. If the sole purpose of the plan of refunding is to provide cost savings to the public, a computation of projected cost savings shall also be submitted to the comptroller of the treasury or the comptroller's designee as a part of the plan of refunding. The comptroller of the treasury or the comptroller's designee may report thereon to the governing body within fifteen (15) days after receipt of the plan. After receiving a report of the comptroller of the treasury or the comptroller's designee on the plan of refunding or after the expiration of fifteen (15) days from the date the plan of refunding is received by the comptroller of the treasury or the comptroller's designee, whichever date is earlier, the governing body may take such action with reference to the proposed plan of refunding as it deems advisable.   If the sole purpose of the plan of refunding is to provide cost savings to the public and if the state funding board has established guidelines with respect to such cost savings, the comptroller of the treasury or the comptroller's designee shall determine whether the plan of refunding substantially complies with the guidelines, and shall so state in the report on the plan of refunding. After receiving a report of the comptroller of the treasury or the comptroller's designee stating that the plan of refunding complies substantially with such guidelines or after the expiration of fifteen (15) days from the date the plan of refunding is received by the comptroller of the treasury or the comptroller's designee, whichever date is earlier, the governing body may take such action with reference to the proposed plan of refunding as it deems advisable.   If a report of the comptroller of the treasury or the comptroller's designee states that the plan of refunding does not substantially comply with the guidelines, if any, a notice in substantially the following form shall be published prior to the sale of such bonds once in a newspaper having general circulation in the local government:  NOTICE   The following report has been received from the comptroller of the treasury or the comptroller's designee:   (full text of report)   Unless within ten (10) days from the date of publication hereof, a petition signed by at least ten percent (10%) of the registered voters shall have been filed with the (official charged with maintaining the records of the issuer) protesting the issuance of the revenue refunding bonds, such revenue refunding bonds may be issued as the governing body deems advisable.
TN Code § 9-21-1004 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 10 - Revenue Refunding Bonds|§ 9-21-1004. Maximum Amount of Principal for Which Revenue Refunding Bonds May Be Issued

 The principal amount of any issue of revenue refunding bonds shall not exceed the sum of the following:   The principal amount of the outstanding obligations being refinanced;   The redemption premium, if any, thereon;   Unpaid interest on the outstanding obligations being refinanced to the date of delivery or exchange of the revenue refunding bonds;   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 of the local government, or to the date or dates of maturity, whichever shall be determined by the governing body of the local government to be most advantageous or necessary to the local government;   A reasonable reserve for the payment of principal of and interest on the revenue refunding bonds; and   Any expenses of the issuance and sale of the revenue refunding bonds, including bond discount, credit enhancement, engraving, printing, and advertising fees, and reasonable and necessary fees of financial and legal advisors, deemed by the governing body to be necessary for the issuance of the revenue refunding bonds.
TN Code § 9-21-1005 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 10 - Revenue Refunding Bonds|§ 9-21-1005. Sale of Revenue Refunding Bonds at Below Par Value

 All revenue 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-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 shall be 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 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-seven percent (97%) of the original reoffering price of such discount bonds and accrued interest.
TN Code § 9-21-1006 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 10 - Revenue Refunding Bonds|§ 9-21-1006. Terms of Revenue Refunding Bonds — Interest Rate Agreements

  The revenue 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 in such denomination or denominations, may be payable at such time or times, 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.   The revenue 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 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 refunding bonds issued or anticipated to be issued hereunder, at any time during the term of the revenue 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 § 9-21-1007 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 10 - Revenue Refunding Bonds|§ 9-21-1007. Limitation on Maturity of Bonds to Be Refunded

 Unless the outstanding obligations are retired at the time of delivery of the revenue refunding bonds, then the revenue 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 revenue 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 § 9-21-1008 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 10 - Revenue Refunding Bonds|§ 9-21-1008. Sale or Exchange of Revenue Refunding Bonds — Agreements to Sell

  Any local government, proposing to sell revenue refunding bonds for any authorized purpose under this part and part 1 of this chapter, is authorized to sell the revenue refunding bonds either at a competitive public sale or at a private negotiated sale, as the governing body of the local government may determine.   If the governing body determines to exchange any revenue refunding bonds, those refunding bonds may be exchanged privately for and in payment and discharge of any of the outstanding obligations being refunded. The refunding bonds may be exchanged for a like or greater principal amount of the obligations being exchanged therefor, except that the principal amount of the revenue refunding bonds may exceed the principal amount of the obligations exchanged therefor only to the extent determined by the governing body to be necessary or advisable to fund redemption premiums and unpaid interest to the date of exchange not provided for otherwise. The holder or holders of the obligations being refunded need not pay accrued interest on the refunding bonds if and to the extent that interest is due or accrued and unpaid on the obligations being refunded and to be surrendered.   The governing body of a local government may enter into an agreement to sell its revenue refunding bonds under this part providing for delivery of its revenue refunding bonds on a date greater than ninety (90) days and not greater than the first optional redemption date on which the obligations being refunded can be optionally redeemed resulting in cost savings or at par, whichever is earlier, only upon receipt of a report of the comptroller of the treasury or the comptroller's designee finding that the agreement or contract of a local government to sell its revenue refunding bonds as authorized in this subsection (c) 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 refunding bonds for delivery ninety (90) days or less from the date of execution of the agreement to sell the revenue refunding bonds do not require a report of the comptroller of the treasury or the comptroller's designee.
TN Code § 9-21-1009 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 10 - Revenue Refunding Bonds|§ 9-21-1009. Installment Sales or Exchanges

 Revenue 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 revenue refunding bonds may be exchanged in part or sold in part in installments at different times or at one (1) time. The revenue refunding bonds may be sold or exchanged at any time on, before, or after the maturity of any of the outstanding obligations to be refinanced by the revenue refunding bonds.
TN Code § 9-21-1010 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 10 - Revenue Refunding Bonds|§ 9-21-1010. Notice of Refunding

 If, at the time of delivery of the revenue refunding bonds, the obligations to be refunded will not be retired or a valid and timely notice of redemption of the outstanding bonds is not given in accordance with the resolution, indenture or other instrument governing the redemption of the outstanding obligations, then, prior to the issuance of the revenue refunding bonds, the governing body shall cause to be given a notice of its intention to issue the revenue refunding bonds. The notice shall be given either by mail to the owners of all the outstanding obligations to be refunded at their addresses shown on the bond registration records for the outstanding obligations or given by publication one (1) time each in a newspaper having a general circulation in the local government and in a financial newspaper published in New York, New York, having a national circulation. The notice shall set forth the estimated date of delivery of the revenue refunding bonds and identify the obligations, or the individual maturities thereof, proposed to be refunded; provided, that if portions of individual maturities are proposed to be refunded, the notice shall identify the maturities subject to partial refunding and the aggregate principal amount to be refunded within each maturity. If the issuance of the revenue refunding bonds does not occur as provided in the notice, the governing body shall cause notice thereof to be given as provided above in this section. Except as otherwise set forth in this section, the notice required pursuant to this section shall be given whether or not any of the obligations to be refunded are to be called for redemption.
TN Code § 9-21-1011 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 10 - Revenue Refunding Bonds|§ 9-21-1011. Notice of Redemption

 If any of the obligations to be refunded are to be called for redemption, the governing body shall cause the notice of redemption to be given in the manner and at the time required by the resolution or ordinance authorizing the outstanding obligations.
TN Code § 9-21-1012 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 10 - Revenue Refunding Bonds|§ 9-21-1012. Application of Proceeds of Sale of Revenue Refunding Bonds

  The principal proceeds from the sale of any revenue refunding bonds shall be applied only as follows, either to the:  Immediate payment and retirement of the obligations being refunded; or   Extent not required for the immediate payment of the outstanding obligations being refunded, the proceeds of the revenue refunding bonds shall be deposited in escrow with a bank or trust company either located in this state or regulated by a federal entity to provide for the payment of the outstanding obligations and to pay any expenses incurred in connection with the refunding, and may also be used to pay interest on the revenue refunding bonds prior to the retirement of the outstanding obligations.     Money in any such escrow fund may be invested in:  Direct obligations of, or obligations, the principal of and interest on which are guaranteed by the United States;   Obligations of any agency or instrumentality of the United States;   Certificates of deposit issued by a bank or trust company located in this state; provided, that such certificates shall be secured by a pledge of any of the obligations referred to in subdivisions (b)(1) and (2) having an aggregate market value, exclusive of accrued interest, equal at least to the principal amount of the certificates of deposit so secured; or   Obligations which are rated in either of the top two (2) highest rated categories by a nationally recognized rating agency of such obligations and whose interest income is exempt from taxation by the United States, which are direct and general obligations of the state or a political subdivision thereof or obligations guaranteed by the state, to the payment of the principal of and interest on which the full faith and credit of the state are pledged or obligations of any other state or political subdivision or instrumentality thereof; provided, that approval of the comptroller of the treasury or the comptroller's designee is first obtained.     The bank or trust company holding the proceeds of such revenue refunding bonds in escrow shall deliver to the local government official designated by law as custodian of local government funds, a copy of the document evidencing each transaction relating to the escrow fund, or a report thereof, as each transaction occurs. On or before August 1 of each year, a report of the financial condition of the escrow fund as of June 30 of that year and an operating statement for the escrow fund for the year ending June 30 of such year shall be delivered to the custodian. However, at the discretion of the escrow agent, the report of the financial condition of the escrow fund may be made on a more frequent basis. Nothing herein shall be construed as a limitation on the duration of any deposit in escrow for the retirement of obligations being refunded but which shall not have matured and which shall not be presently redeemable or, if presently redeemable, shall not have been called for redemption.
TN Code § 9-21-1014 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 10 - Revenue Refunding Bonds|§ 9-21-1014. Revenue Refunding Bonds of the Same Issue Shall Be Equally and Ratably Secured

 All revenue refunding 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 enterprise, 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 refunding bonds.