Contents of Bond Order

  1. Law
  2. Tennessee Code
  3. Public Finances
  4. Cash Basis Law of 1937
  5. Contents of Bond Order

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All bonds issued by a unit under this chapter shall be authorized by a bond order passed by the governing body of the unit. Notwithstanding any public or private statute relating to the unit, such bond order may be finally passed at the meeting at which the same shall be introduced. The bond order shall state:

  1. A brief description of the indebtedness to be funded or refunded sufficient to identify such indebtedness, and the amount of redemption premium, if any, to be paid upon bonds refunded and the amount of expenses, if any, to be paid from the proceeds of bonds;
  2. The maximum aggregate principal amount of bonds to be issued;
  3. That a tax sufficient to pay the principal of and interest on the bonds shall be annually levied upon all taxable property in the unit; and
  4. That the bond order shall take effect upon its passage and shall not be submitted to the voters of the unit.


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