Tennessee Code 7-56-104 – Bonds or notes
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Terms Used In Tennessee Code 7-56-104
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- 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
Any municipality, county, or combination of municipality and county, or a transit authority created by it, has the authority to issue general obligation or revenue bonds or municipal notes, or a combination of revenue bonds and municipal notes, for the creation, purchase or establishment of a public transportation system, to such extent and in such manner as may now or hereafter be authorized by any applicable private or public act or general law of the state, including, but not limited to, the Local Government Public Obligations Act of 1986, compiled in title 9, chapter 21.