reglab/housing_qa huggingface dataset:
TN Code § 9-21-316 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 3 - Revenue Bonds|§ 9-21-316. Remedies Cumulative — Effect of Abandonment or Nonexercise of Right or Remedy

 No remedy conferred by this part upon any holder of revenue bonds, or any trustee therefor, is intended to be exclusive of any other remedy, but each remedy is cumulative and in addition to every other remedy and may be exercised without exhausting and without regard to any other remedy conferred by this chapter or by any other law. No waiver of any default or breach of duty or contract, whether by any holder of bonds, or any trustee therefor, shall extend to or shall affect any subsequent default or breach of duty or contract or shall impair any rights or remedies thereon. No delay or omission of any revenue bondholder or any trustee therefor to exercise any right or power accruing upon any default shall impair any such right or power or shall be construed to be a waiver of any such default. Every substantive right and every remedy, conferred upon the holders of revenue bonds, may be enforced and exercised from time to time and as often as may be deemed expedient. In case any suit, action or proceeding to enforce any right or exercise any remedy shall be brought or taken and then discontinued or abandoned, or shall be determined adversely to the holder of the revenue bonds, or any trustee therefor, then and in every such case the local government and such holder, or such trustee, shall be restored to their former positions and rights and remedies as if no such suit, action or proceeding had been brought or taken. Nothing herein shall be construed as denying to any such suit or decree rendered therein such force as it would otherwise have by virtue of the legal doctrine of res judicata.
TN Code § 9-21-401 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 4 - General Provisions Governing the Issuance of All Notes by Local Governments|§ 9-21-401. Applicability

 The terms of this part and part 1 of this chapter shall be applicable to the authorization and issuance by any local government of debt under this chapter.
TN Code § 9-21-402 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 4 - General Provisions Governing the Issuance of All Notes by Local Governments|§ 9-21-402. Notes Issued to Finance Industrial Parks

  A local government which intends to issue bond anticipation notes, capital outlay notes or grant anticipation notes to finance an industrial park shall first comply with title 13, chapter 16.   A local government which intends to issue bond anticipation notes, capital outlay notes or grant anticipation notes to finance a business park shall first comply with the requirements outlined in § 9-21-105(21)(B)(i).   Notwithstanding subsections (a) and (b), a certificate of public purpose and necessity shall not be required to finance an industrial park or a business park in any local government with a population of not less than three hundred thousand (300,000), according to the 2000 federal census or any subsequent federal census. The total pledge of full faith and credit of any such local government related to the project shall not exceed ten percent (10%) of the total assessed valuation of any property in the local government, ascertained by the last completed assessment at the time of issuance of the obligations. In any resolution pledging the full faith and credit and unlimited taxing power of any such local government to secure any obligations related to the project, the governing body of the local government shall state that the project being considered is well conceived, has a reasonable prospect for success, will provide proper economic development and employment, and will not likely become a burden on the taxpayers of the local government.
TN Code § 9-21-404 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 4 - General Provisions Governing the Issuance of All Notes by Local Governments|§ 9-21-404. Sanction for Failure to Submit the Annual Budget to the Comptroller of the Treasury or the Comptroller's Designee

 If a proper budget is not submitted to the comptroller of the treasury or the comptroller's designee when required under this part within five (5) months of the beginning of the fiscal year, then the comptroller of the treasury or the comptroller's designee will cause notice to be published in a newspaper of general circulation within the local government once each week for two (2) consecutive weeks, stating that the budget has not been submitted to the comptroller of the treasury or the comptroller's designee, and that the local government is operating contrary to this part.
TN Code § 9-21-405 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 4 - General Provisions Governing the Issuance of All Notes by Local Governments|§ 9-21-405. Definition of “period.”

 “Period,” as used in this part and parts 5-8 of this chapter, includes in each instance any number of portions of time not exceeding in the aggregate the length of time included in such period.
TN Code § 9-21-407 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 4 - General Provisions Governing the Issuance of All Notes by Local Governments|§ 9-21-407. Remedies of Noteholders

 Any holder of notes issued pursuant to 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 notes 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 notes 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 notes.
TN Code § 9-21-408 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 4 - General Provisions Governing the Issuance of All Notes by Local Governments|§ 9-21-408. Interfund Loans

  Local governments are hereby authorized to make interfund loans in accordance with procedures for issuance of notes or bonds in part 5, 7 or 8 of this chapter or § 9-21-604.   Local governments are hereby authorized to make interfund loans in accordance with the procedures of § 9-21-604(b) of all funds derived from the sale of any Tennessee private act hospital established pursuant to private acts of the state and the Private Act Hospital Authority Act of 1996, compiled in title 7, chapter 57, part 6. This section does not authorize the expenditure of funds derived from the sale of a private act hospital for any purpose contrary to law or applicable court order.
TN Code § 9-21-501 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 5 - Bond Anticipation Notes|§ 9-21-501. Authorization for the Issuance of Bond Anticipation Notes

 The governing body of the local government acting by resolution is hereby authorized to issue and sell interest-bearing bond anticipation notes for all purposes for which bonds can be legally authorized and issued by a local government for public works projects as defined by this chapter, and for purposes authorized by chapter 11 of this title and by title 49, chapter 3, part 10. Such resolution shall not be effective until the initial resolution authorizing the issuance of the bonds, if required, shall have been adopted, published and no petition protesting the issuance of such bonds shall have been filed as permitted by law.
TN Code § 9-21-502 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 5 - Bond Anticipation Notes|§ 9-21-502. Purchase and Terms of Bond Anticipation Notes

 Bond anticipation notes shall be sold for not less than ninety-nine percent (99%) of the par value thereof and accrued interest as the governing body of the local government may direct. Bond 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 or, for notes sold for not less than the par value thereof and accrued interest, without or with a premium of not exceeding one percent (1%) of the principal amount thereof, all as may be provided by resolution of the governing body of the local government.
TN Code § 9-21-503 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 5 - Bond Anticipation Notes|§ 9-21-503. Method of Sale of Bond Anticipation Notes

 Bond 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 § 9-21-504 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 5 - Bond Anticipation Notes|§ 9-21-504. Security for Bond Anticipation Notes

  Bond anticipation notes issued in anticipation of bonds secured by the full faith and credit of the local government shall be secured by a pledge of the taxing power of the local government, as to all taxable property in the local government or a portion of the local government, if applicable, which shall be subject to taxation for the payment of the bonds, the issuance of which is anticipated by such notes, and may, at the option of the local government, be additionally secured by the same revenues which will secure the bonds, the issuance of which is anticipated by such notes and identified in the initial resolution authorizing such bonds. When the bond anticipation notes are so issued and sold, they shall be direct obligations of the local government, the payment of which shall be made according to the tenor and effect thereof. The governing body of the local government is hereby authorized to levy and provide for the collection of a special tax over and above all other taxes authorized or limited by law to be imposed and levied on all the taxable property in the local government or a portion of the local government, if applicable, to create a sinking fund to retire the notes with interest as they fall due.   Bond anticipation notes issued in anticipation of the issuance of bonds secured by and payable solely from revenues of a public works project may be secured by the revenues from the public works project.   When bonds shall have been issued and sold for a public works project, a sufficient amount of the proceeds shall be applied to the payment at their maturity or redemption of any bond anticipation notes issued for such public works project then outstanding. Nothing in this chapter shall prohibit the retirement of bond anticipation notes from other local government funds available and authorized for such purpose.
TN Code § 9-21-505 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 5 - Bond Anticipation Notes|§ 9-21-505. Approval of Bond Anticipation Notes and Application for Their Extension or Renewal

 The sale of bond anticipation notes shall first be approved by the comptroller of the treasury or the comptroller's designee, and the notes shall be issued for the express purpose of providing funds in anticipation of the sale of bonds. All such notes shall be issued for a period not to exceed two (2) years from the date of issue; provided, that with the approval of the comptroller of the treasury or the comptroller's designee the notes may be extended or renewed for not more than two (2) additional periods not exceeding two (2) years each. Each year that extension or renewal notes are outstanding, the local government shall retire a portion thereof equal to not less than one-twentieth (1/20) of the original principal amount of the notes, and to that end, the resolution authorizing any such issue of extension or renewal 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 the local government. In approving any issue of extension or renewal notes, the comptroller of the treasury or the comptroller's designee may waive the requirement of periodic retirement. Application to the comptroller of the treasury or the comptroller's designee for the extension or renewal of any such notes shall be by resolution of the governing body. Notwithstanding this section, the comptroller of the treasury or the comptroller's designee shall not be required to approve the issuance or extension of any bond anticipation note issued in anticipation of the issuance of a bond or other debt obligation to a state or federal agency.
TN Code § 9-21-601 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 6 - Capital Outlay Notes|§ 9-21-601. Authorization for the Issuance of Capital Outlay Notes

 The governing body of a local government acting by resolution is hereby authorized to issue and sell interest-bearing capital outlay notes for all purposes for which bonds can be legally authorized and issued by a local government for public works projects as defined in this chapter and for property valuation, tax assessment and tax equalization programs. The sale of all interest-bearing capital outlay notes shall first be approved by the comptroller of the treasury or the comptroller's designee.
TN Code § 9-21-602 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 6 - Capital Outlay Notes|§ 9-21-602. Purchase Price and Terms of Capital Outlay Notes — Interest Rate Agreements

  Capital outlay notes shall be sold for not less than ninety-nine percent (99%) of the par value thereof and accrued interest as the governing body of the local government may direct. Capital outlay 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 or, for notes sold for not less than the par value thereof and accrued interest, without or with a premium of not exceeding one percent (1%) of the principal amount thereof, all as may be provided by resolution of the governing body of the local government.   The term of capital outlay notes issued pursuant to this part and parts 1 and 4 of this chapter shall not exceed the reasonably expected economic life of the project being financed as stated in the resolution authorizing the capital outlay notes. An erroneous estimate of the reasonably expected economic life of the project shall in no way affect the validity of such notes.   With respect to all or any portion of any issue of capital outlay notes issued or anticipated to be issued hereunder, at any time during the term of the capital outlay notes, 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 § 9-21-603 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 6 - Capital Outlay Notes|§ 9-21-603. Security for Capital Outlay Notes

 When the capital outlay notes are issued and sold, they shall be direct obligations of the local government, the payments of which shall be made according to the tenor and effect thereof, to which shall be pledged the taxing power of the local government as to all taxable property in the local government. The governing body is hereby authorized to levy and provide for the collection of a special tax over and above all other taxes authorized or limited by law to be imposed and levied on all the taxable property in the local government to create a sinking fund to retire such notes with interest as they fall due. Capital outlay notes issued for an income producing public works project may be additionally secured by and payable from revenues of such public works project.
TN Code § 9-21-604 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 6 - Capital Outlay Notes|§ 9-21-604. Three-Year Capital Outlay Notes Subject to Periodic Renewals

  Capital outlay notes issued pursuant to this section may be issued for a period not to exceed the end of the third fiscal year following the fiscal year in which the notes were issued; provided, that, with the approval of the comptroller of the treasury or the comptroller's designee, the maturity date of such notes may be extended or renewed for not more than two (2) additional periods not exceeding three (3) years each. Each fiscal year that any such original or such extension or renewal notes are outstanding following the fiscal year in which notes are issued, the local government shall retire a portion thereof equal to not less than one-ninth (1/9) of the original principal amount of the notes. The resolution authorizing any such issue of notes shall provide for the principal of the notes to be payable annually, either by maturity or by mandatory redemption. The resolution authorizing such notes may provide that the notes shall be subject to redemption prior to maturity at the option of the local government. The comptroller of the treasury or the comptroller's designee, in approving any such notes, may waive the requirement of periodic retirement.   Capital outlay notes issued from funds derived from the sale of any Tennessee private act hospital may be issued for a period not to exceed the end of the twentieth fiscal year following the fiscal year in which the notes were issued, with the approval of the comptroller of the treasury or the comptroller's designee. Each fiscal year that any such notes are outstanding following the fiscal year in which notes are issued, the local government shall retire a portion thereof equal to not less than one-twentieth (1/20) of the original principal amount of the notes. The resolution authorizing any such issue of notes shall provide for the principal of the notes to be payable annually, either by maturity or by mandatory redemption. The resolution authorizing such notes may provide that the notes shall be subject to redemption prior to maturity at the option of the local government. The comptroller of the treasury or the comptroller's designee, in approving any such notes, may waive the requirement of periodic retirement.
TN Code § 9-21-605 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 6 - Capital Outlay Notes|§ 9-21-605. Capital Outlay Notes Issued Solely for the Acquisition of a Fee Simple Absolute Interest in Land

 Capital outlay notes issued solely for the acquisition of a fee simple absolute interest in land pursuant to this section may be issued for a period not to exceed the end of the tenth fiscal year following the fiscal year in which the notes were issued. Each fiscal year any notes are outstanding following the fiscal year in which the notes are 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 sale, 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 end of the tenth fiscal year following the fiscal year in which the notes were issued. The resolution authorizing any such issue of notes shall provide for the principal of the notes to be payable annually, either by maturity or by mandatory redemption. The resolution authorizing such notes may provide that the notes shall be subject to redemption prior to maturity at the option of the local government.
TN Code § 9-21-606 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 6 - Capital Outlay Notes|§ 9-21-606. Application for Extension or Renewal of Three-Year Capital Outlay Notes and Capital Outlay Notes Issued for the Acquisition of Land — Retirement 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 issued under §§ 9-21-604 and 9-21-605 shall be by resolution of the governing body of the local government.   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 § 9-21-607 (2021)
2021 Tennessee Code|Title 9 - Public Finances|Chapter 21 - Local Government Public Obligations Act of 1986|Part 6 - Capital Outlay Notes|§ 9-21-607. Method of Sale of Three-Year Capital Outlay Notes and Seven-Year Capital Outlay Notes

 Notes authorized to be issued under §§ 9-21-604 and 9-21-605 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.