2010 Tennessee Code
Title 9 - Public Finances
Chapter 21 - Local Government Public Obligations Law
Part 2 - General Obligation Bonds
9-21-203 - Sale of general obligation bonds Notices.

9-21-203. Sale of general obligation bonds Notices.

Any local government proposing to sell general obligation bonds, under the provisions of this part and part 1 of this chapter, is authorized to sell such bonds at a competitive public sale. The local government shall publish a notice of sale at least five (5) days prior to the date on which the bonds are to be sold, either in a financial newspaper having national circulation, or via an electronic communication system that is generally available to the financial community. The notice of sale shall set forth the time, date and place of sale, the maximum amount of bonds to be sold, the maximum interest rate, the maximum discount, if any, that will be permitted, in dollars or as a percentage of par value, and the basis upon which the bonds will be awarded. If the principal amount of general obligation bonds to be sold is not greater than five million dollars ($5,000,000), then the notice of sale may be published either as set forth in this section, or in a newspaper having general circulation in the local government.

[Acts 1986, ch. 770, § 2-3; 1995, ch. 67, § 1; 2005, ch. 393, § 1.]