Sale of Bonds at Private Sale by Local Government

1. Law
2. Tennessee Code
3. Public Finances
4. Local Government Public Obligations Act of 1986
5. General Provisions Applicable to All Bonds and Notes Issued by Local Governments
6. Sale of Bonds at Private Sale by Local Government

1. A local government shall have discretion until June 30, 2014, to sell bonds at private sale upon terms and conditions that it determines and upon approval by the governing body of the local government.
2. Subsection (a) shall apply to counties having a population greater than three hundred seven thousand (307,000), according to the 2000 federal census or any subsequent federal census, and the municipality that is the county seat of the county.
3. Any local government may petition the state funding board for permission to sell specific bonds determined to be required to be sold at taxable interest rates at private sale upon terms and conditions that the local government determines and upon approval by the governing body of the local government.

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