Any bonds, notes, refunding bonds, or other indebtedness relative to the cost of an economic development project must not be issued for a term longer than thirty (30) years, and the municipality or industrial development corporation may pledge all proceeds or taxes it receives pursuant to this chapter to the payment of principal and interest on the bonds, notes, or other indebtedness. The thirty-year period in this section runs concurrently with the time limitation established in § 7-41-106.
Tenn. Code Ann. § 7-41-108
Bonds, notes, refunding bonds, or other indebtedness relative to cost of economic development project
Known as the Regional Retail Tourism Development District Act
The act spans §§ 7–7 (11 sections).
Acts 2019, ch. 498, § 9.
Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.