The obligations assumed and undertaken by a municipality pursuant to a lease or sublease made under § 12-2-302(3), including any unconditional or other obligation to pay rentals for a fixed term or terms, shall not be deemed or construed as constituting a debt of the municipality within the terms, provisions or limitations of any constitutional, statutory, charter or other limitations.
Structure 2021 Tennessee Code
Title 12 - Public Property, Printing and Contracts
Chapter 2 - Administration and Disposition of State Property
Part 3 - Sales and Leases by Municipalities to and From Not-for-Profit Corporations
§ 12-2-302. Powers and Duties of Municipality
§ 12-2-303. Municipality's Liability Under Lease — Actions by Not-for-Profit Corporations as Lessors
§ 12-2-304. Municipality's Obligations Not Within Debt Limitations
§ 12-2-305. Provision in Lease to Convey Title Upon Retirement of Obligations