Tennessee § 4-31-903 - Bonds authorized.
Full text of Tennessee Tennessee Code Annotated § 4-31-903 — Bonds authorized., with citation guidance and answers to common questions.
§ 4-31-903. Bonds authorized.
For the purpose of providing moneys for deposit with the petroleum underground storage tank board, the authority, in addition to the powers otherwise created by law, has the power and is hereby authorized to issue from time to time negotiable bonds and notes of the authority in an amount not to exceed fifteen million dollars ($15,000,000) in accordance with the terms of this part. Bonds or notes issued pursuant to this part shall not be issued and sold as part of an issue of bonds or notes of the authority issued pursuant to any other provisions of this chapter or any other law; provided, that the foregoing shall not prohibit the issuance of separate issues of bonds or notes pursuant to this part. In addition to powers otherwise granted by law, the authority has the power and is authorized to enter into a funding agreement with the petroleum underground storage tank board. The authority shall determine the amount as will be at least sufficient, together with other funds available therefor, to pay the principal of, and interest on, bonds and notes issued by the authority and to fund a debt service reserve fund. The authority may collect an administrative fee in addition to such schedule for repayment of debt. Such schedule for repayment of debt shall be provided to the commissioners of finance and administration, revenue and environment and conservation. Prior to the issuance of any debt, there shall be a determination by the authority as to the sufficiency of the tax collections to service such debt. Acts 1997, ch. 444, § 2.
Frequently Asked Questions About Tennessee § 4-31-903
What does Tennessee Code Annotated § 4-31-903 cover?
Section 4-31-903 ("Bonds authorized.") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Tennessee § 4-31-903?
A common citation format is "Tennessee Code Annotated § 4-31-903" (Tennessee). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 4-31-903 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Tennessee.