Tennessee § 9-21-603 - Security for capital outlay notes.
Full text of Tennessee Tennessee Code Annotated § 9-21-603 — Security for capital outlay notes., with citation guidance and answers to common questions.
§ 9-21-603. Security for capital outlay notes.
When the capital outlay notes are issued and sold, they shall be direct obligations of the local government, the payments of which shall be made according to the tenor and effect thereof, to which shall be pledged the taxing power of the local government as to all taxable property in the local government. The governing body is hereby authorized to levy and provide for the collection of a special tax over and above all other taxes authorized or limited by law to be imposed and levied on all the taxable property in the local government to create a sinking fund to retire such notes with interest as they fall due. Capital outlay notes issued for an income producing public works project may be additionally secured by and payable from revenues of such public works project. Acts 1986, ch. 770, § 6-3.
Frequently Asked Questions About Tennessee § 9-21-603
What does Tennessee Code Annotated § 9-21-603 cover?
Section 9-21-603 ("Security for capital outlay notes.") 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 § 9-21-603?
A common citation format is "Tennessee Code Annotated § 9-21-603" (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 § 9-21-603 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.