Tennessee § 5-3-121 - Debt reorganization — Payment of unfunded debt.
Full text of Tennessee Tennessee Code Annotated § 5-3-121 — Debt reorganization — Payment of unfunded debt., with citation guidance and answers to common questions.
§ 5-3-121. Debt reorganization — Payment of unfunded debt.
Any floating indebtedness or bonded indebtedness of an absorbed county, not funded or refunded under §§ 5-3-113 — 5-3-121, shall be paid out of a tax levied against the property of the absorbed county. This tax levy shall be such proportion of the tax levy, levied by the absorbed county for bonds and interest during the past fiscal year, as the outstanding bonds of the absorbed county bears to the outstanding bonds of the absorbed county prior to consolidation. Acts 1939, ch. 225, § 8; C. Supp. 1950, § 136.17 (Williams, § 136.19); T.C.A. (orig. ed.), § 5-321. Textbooks. Tennessee Jurisprudence, 8 Tenn. Juris., Counties, § 6.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 5-3-121
What does Tennessee Code Annotated § 5-3-121 cover?
Section 5-3-121 ("Debt reorganization — Payment of unfunded debt.") 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 § 5-3-121?
A common citation format is "Tennessee Code Annotated § 5-3-121" (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 § 5-3-121 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.