All bonds issued by a unit under this chapter shall be authorized by a bond order passed by the governing body of the unit. Notwithstanding any public or private statute relating to the unit, such bond order may be finally passed at the meeting at which the same shall be introduced. The bond order shall state:

(1) A brief description of the indebtedness to be funded or refunded sufficient to identify such indebtedness, and the amount of redemption premium, if any, to be paid upon bonds refunded and the amount of expenses, if any, to be paid from the proceeds of bonds;

Terms Used In Tennessee Code 9-11-104

  • Property: includes both personal and real property. See Tennessee Code 1-3-105
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
  • Statute: A law passed by a legislature.
  • Unit: includes each county and city in the state, which shall issue bonds under this chapter. See Tennessee Code 9-11-102
(2) The maximum aggregate principal amount of bonds to be issued;
(3) That a tax sufficient to pay the principal of and interest on the bonds shall be annually levied upon all taxable property in the unit; and
(4) That the bond order shall take effect upon its passage and shall not be submitted to the voters of the unit.
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