Bonds issued under the authority of this chapter and secured by a pledge of full faith and credit shall be and are hereby declared to be legal and authorized investments for banks, savings banks, trust companies, building and loan associations, insurance companies, fiduciaries, trustees, guardians and for all public funds of the state, including, but not limited to, the sinking funds of cities, towns, villages, counties, school districts, or other political corporations or subdivisions of the state. Such bonds shall be eligible to secure the deposit of any and all public funds of the state and any and all public funds of cities, towns, villages, counties, school districts or other political corporations or subdivisions of the state, and such bonds shall be lawful and sufficient security for such deposits to the extent of their value when accompanied by all unmatured coupons appertaining thereto.
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
§ 7-55-111. 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