Bonds issued under this chapter bearing the signature of the president or other authorized officer in office on the date of the signing thereof shall be valid and binding obligations; provided, that before the delivery thereof and payment therefor, any person whose signature appears thereon shall have ceased to be an officer. The validity of any bonds shall not be dependent on, or affected by, the validity or regularity of any proceedings relating to the acquisition or improvement of the system for which such bonds are issued. The resolution authorizing bonds may provide that the bonds shall contain a recital that the bonds are issued pursuant to this chapter, which recital shall be conclusive evidence of the bonds' validity and of the regularity of the bonds' issuance.
Structure 2021 Tennessee Code
Title 7 - Consolidated Governments and Local Governmental Functions and Entities
Chapter 36 - Municipal Energy Authority Act
§ 7-36-102. Chapter Definitions
§ 7-36-108. Independent Operation of Utility System
§ 7-36-116. Rights and Remedies of Bondholders
§ 7-36-117. Bond Not Debt of State, Municipality, or Other Political Subdivision of State
§ 7-36-122. Payments in Lieu of Taxes
§ 7-36-124. Investment of Funds
§ 7-36-125. Assets After Cessation of Existence of Authority
§ 7-36-126. Authority as Political Subdivision for Purposes of Regulation of Public Utilities
§ 7-36-127. Board as Governing Body for Purposes of Open Meetings Act
§ 7-36-128. Authority as Governmental Entity for Purposes of Governmental Tort Liability Act
§ 7-36-129. Authority as Public Agency for Purposes of Interlocal Cooperation Act
§ 7-36-131. Powers Conferred by Chapter Additional to Other Powers