Tennessee § 49-3-1108 - Funds obligated by bonds.
Full text of Tennessee Tennessee Code Annotated § 49-3-1108 — Funds obligated by bonds., with citation guidance and answers to common questions.
§ 49-3-1108. Funds obligated by bonds.
All bonds issued pursuant to this part shall be obligations of the board, payable only in accordance with the terms of the bonds, and shall not be obligations general, special or otherwise of the state. The bonds shall not be a debt of the state, and shall not be enforceable against the state, nor shall payment for the bonds be enforceable out of any funds of the board other than the income and revenue pledged and assigned to, or in trust for the benefit of, the holder or holders of the bonds. Nothing contained in this part shall be construed to authorize the board to contract a debt on behalf of, or in any way to obligate the state, or to pledge, assign or encumber in any way, or to permit the pledging, assigning, or encumbering in any way of, appropriations made by the general assembly, or revenue derived from the investment of the proceeds of the sale, and from the rental of such lands as have been set aside by legislative enactments of the United States, for the use and benefit of the respective state educational institutions. Acts 1943, ch. 135, §§ 9, 10; C. Supp. 1950, §§ 2316.9, 2316.10 (Williams, §§ 2316.21, 2316.22); Acts 1979, ch. 116, § 9; T.C.A. (orig. ed.), §§ 49-3506, 49-3507.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 49-3-1108
What does Tennessee Code Annotated § 49-3-1108 cover?
Section 49-3-1108 ("Funds obligated by bonds.") 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 § 49-3-1108?
A common citation format is "Tennessee Code Annotated § 49-3-1108" (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 § 49-3-1108 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.