The governing body of a municipality issuing bonds pursuant to this chapter shall prescribe and collect rentals for industrial buildings, and shall revise the rentals from time to time whenever necessary so that the income and revenues to be derived from such rentals will always be sufficient to pay when due all bonds and interest on the bonds for the payment of which such revenues are pledged, including reserves for the payment of the bonds and interest on the bonds.
Structure 2021 Tennessee Code
Title 7 - Consolidated Governments and Local Governmental Functions and Entities
Chapter 37 - Industrial Building Revenue Bond Act of 1951
§ 7-37-102. Chapter Definitions
§ 7-37-103. Purpose of Chapter
§ 7-37-104. Powers of Municipalities
§ 7-37-106. Improvements and Bonds Authorized
§ 7-37-109. Bonds Not General Obligation
§ 7-37-110. Election — Questions Submitted — Declaration of Result
§ 7-37-112. Interim Financing — Certificates
§ 7-37-114. Tax Exemption of Bonds