2015 Tennessee Code
Title 65 - Public Utilities and Carriers
Chapter 7 - Subscription to Railroad Stock by Counties and Municipalities
§ 65-7-113 - Bond issue for payment.
When such subscription shall become due and payable, as provided in ยง 65-7-112, the county or city or town making the subscription shall make and execute its coupon bonds for the amount of such subscription, payable not more than twenty (20) years after date, and bearing interest at such rate as may be agreed upon, payable semiannually, and deliver the same to the railroad company; provided, that such county, city, or town may pay such subscription in cash at maturity, if it shall so elect.
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