Tennessee Code 68-221-507 – Additional agreements or securities required for issuance of bonds
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Terms Used In Tennessee Code 68-221-507
- Authority: means the Tennessee local development authority, a public agency, created by title 4, chapter 31, or its successor. See Tennessee Code 68-221-502
- Municipality: means any county, metropolitan government, incorporated town or city, or special district of this state empowered to provide water services, or any combination of two (2) or more of the foregoing acting jointly, in connection with an eligible project. See Tennessee Code 68-221-502
The authority has the right to enter into such further agreements with a municipality and require such further guarantees or securities as it may see fit prior to, or simultaneously with, the issuance of bonds, or to refuse to issue such bonds until such agreements or securities, in any form which the authority may elect, are agreed to or are obtained.