All bonds issued under this chapter shall have a lien upon the rentals from the industrial building for which the bonds have been issued, and the governing body may provide in the resolution or resolutions authorizing such bonds for the issuance of additional bonds to be equally and ratably secured by a lien upon such rentals or may provide that the lien upon such rentals for future bonds shall be subordinate.
Structure 2021 Tennessee Code
Title 7 - Consolidated Governments and Local Governmental Functions and Entities
Chapter 55 - Industrial Building Bond Act of 1955
§ 7-55-102. Chapter Definitions
§ 7-55-103. Powers of Municipality — Restrictions and Limitations
§ 7-55-104. Construction of Industrial Buildings — Bonds
§ 7-55-107. Submission to Voters — Election
§ 7-55-109. Validity in Bond Issues — Recital
§ 7-55-110. Lien on Rentals
§ 7-55-111. Securing Bonds — Enforcement by Bondholders — Tax Levy — Restrictions
§ 7-55-112. Collection and Revision of Rent — Separation of Funds
§ 7-55-113. Exemption From Taxation
§ 7-55-114. Bonds as Investments