Tennessee § 7-40-109 - Issuance of bonds.
Full text of Tennessee Tennessee Code Annotated § 7-40-109 — Issuance of bonds., with citation guidance and answers to common questions.
§ 7-40-109. Issuance of bonds.
Prior to the issuance of any bonds to finance the cost of an economic development project that will be repaid in whole or part from apportionments under this chapter, the municipality or industrial development corporation issuing such bonds shall submit a proposed debt amortization schedule for such bonds to the commissioner for approval. Such schedule shall show the anticipated contribution to be made to the annual debt service for such bonds from the apportionment of sales and use taxes pursuant to this chapter and all other sources. After the date of issuance of such bonds, the municipality shall continue to contribute each year thereafter until such bonds are retired or a sufficient sinking fund has been established for their retirement. Acts 2011, ch. 420, § 10.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 7-40-109
What does Tennessee Code Annotated § 7-40-109 cover?
Section 7-40-109 ("Issuance of 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 § 7-40-109?
A common citation format is "Tennessee Code Annotated § 7-40-109" (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 § 7-40-109 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.