2017 Tennessee Code
Title 7 - Consolidated Governments and Local Governmental Functions and Entities
Local Government Functions
Chapter 55 - Industrial Building Bond Act of 1955
§ 7-55-110. Lien on rentals.

Universal Citation: TN Code § 7-55-110 (2017)

All bonds issued under this chapter shall have a lien upon the rentals from the industrial building for which the bonds have been issued, and the governing body may provide in the resolution or resolutions authorizing such bonds for the issuance of additional bonds to be equally and ratably secured by a lien upon such rentals or may provide that the lien upon such rentals for future bonds shall be subordinate.

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