2018 Tennessee Code
Title 7 - Consolidated Governments and Local Governmental Functions and Entities
Local Government Functions
Chapter 55 - Industrial Building Bond Act of 1955
§ 7-55-109. Validity in bond issues -- Recital.

Universal Citation: TN Code § 7-55-109 (2018)

Bonds bearing the signatures of officers in office on the date of the signing of the bonds shall be valid and binding obligations, notwithstanding that before the delivery of the bonds and payment for the bonds, any or all the persons whose signatures appear on the bonds shall have ceased to be officers of the municipality issuing the bonds. The validity of the bonds shall not be dependent on nor affected by the validity or regularity of any proceedings relating to the acquisition, purchase, construction, reconstruction, improvement, betterment, or extension of the industrial building for which the bonds are issued. The resolution authorizing the bonds may provide that the bonds shall contain a recital that they are issued pursuant to this chapter, which recital shall be conclusive evidence of their validity and of the regularity of their issuance.

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