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2019 Tennessee Code
Title 9 - Public Finances
Chapter 21 - Local Government Public Obligations Act of 1986
Part 9 - General Obligation Refunding Bonds
§ 9-21-908. Limitation on maturity of bonds to be refunded.
Universal Citation:
TN Code § 9-21-908 (2019)
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Unless the outstanding obligations are retired at the time of delivery of the general obligation refunding bonds, then the general obligation refunding bonds shall not be issued to refund the outstanding obligations unless the outstanding obligations shall mature by their terms, or shall be subject to redemption and be called for redemption within ten (10) years from the date of delivery of the general obligation refunding bonds. However, this time limitation shall not apply if the comptroller of the treasury or the comptroller's designee approves a greater period in the comptroller of the treasury's or the comptroller's designee's report on the proposed refunding plan.
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