If the general obligation refunding bonds shall be payable from ad valorem taxes without limitation of rate or amount and the outstanding obligations to be refunded are secured solely by the revenues of a public works project, then an initial resolution authorizing general obligation refunding bonds shall be adopted in conformance with § 9-21-205 and shall conform to § 9-21-206 requiring publication of the resolution and the notice therein required. Sections 9-21-207 and 9-21-209 — 9-21-212, governing election requirements and procedures, and § 9-21-215, governing the adoption of a tax resolution by the governing body of the local government, shall also apply. If the refunding bonds will be secured in the same manner as the bonds being refunded, an initial resolution need not be adopted.
Structure 2021 Tennessee Code
Chapter 21 - Local Government Public Obligations Act of 1986
Part 9 - General Obligation Refunding Bonds
§ 9-21-902. Determination by Governing Body to Be Conclusive
§ 9-21-905. Initial Resolution and Election Requirements — When Required
§ 9-21-906. Sale of General Obligation Refunding Bonds at Below Par Value
§ 9-21-908. Limitation on Maturity of Bonds to Be Refunded
§ 9-21-909. Installment Sales and Exchanges
§ 9-21-910. Sale of General Obligation Refunding Bonds — Notices — Agreement to Sell
§ 9-21-911. Sale of General Obligation Refunding Bonds to a State or Federal Agency
§ 9-21-912. Notice of Refunding
§ 9-21-913. Notice of Redemption
§ 9-21-915. Powers to Secure and to Covenant as to General Obligation Refunding Bonds
§ 9-21-916. Remedies of General Obligation Refunding Bondholders