Destruction of Paid or Cancelled Bonds by Paying Agent

1. Law
2. Tennessee Code
3. Public Finances
4. Funding of State Debt
5. General Provisions
6. Destruction of Paid or Cancelled Bonds by Paying Agent

1. The state of Tennessee, acting by resolution of the state funding board, may authorize and direct the paying agent for its bonds, notes and coupons, or other person in possession of its bonds, notes and coupons, to destroy all bonds, notes and coupons duly paid and cancelled.
2. Such bonds, notes and coupons duly paid and cancelled during any fiscal year beginning July 1 and ending on the following June 30 may be destroyed only after the fiscal audit of the appropriate state agency covering the fiscal year has been completed, and the department of audit will notify the state funding board that due account has been made of such duly paid and cancelled bonds, notes and coupons. The paying agent or other person in possession of the state's bonds, notes and coupons shall furnish a certified list of bonds, notes and coupons duly paid and cancelled, showing for each issue of bonds and notes: the bond, note and coupon number, the amount, the date paid, and such additional information as the state funding board by resolution may require.
3. This section shall be in addition to any other law. Where this section is in conflict with other law, this section shall prevail.

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