Tennessee § 9-9-103 - Debt service payments.

§ 9-9-103. Debt service payments.

There is hereby appropriated to the state funding board on a direct and continuing basis a sum sufficient for payment of debt service (principal, interest and premium, if any) on outstanding bonds and other debt obligations (including notes), amounts due on contracts or agreements authorized under this chapter, and necessary related expenses. The state funding board is authorized to make debt service payments on outstanding bonds and other debt obligations (including notes), and make payments due under contracts and agreements authorized under this chapter, and necessary related expenses, as provided in this section from any funds held in the state treasury not otherwise legally restricted, independent of an appropriation bill as contemplated by chapter 4, part 51 of this title. Acts 1937, ch. 165, § 1 (Williams, § 1811.12); impl. am. Acts 1949, ch. 52, § 1; modified; T.C.A. (orig. ed.), § 9-904; Acts 1998, ch. 582, § 7; 2001, ch. 264, § 1; 2013, ch. 176, § 4. Compiler's Notes. Acts 1998, ch. 582, § 11 provided that if any court of last resort should determine the tax levied by Acts 1997, ch. 316 to be invalid, then immediately upon the effective date of the court's order, the prior sections amended by Acts 1998, ch. 582, §§ 7-10 shall be revived as in effect prior to January 1, 1998, and the reference in Acts 1998, ch. 582, § 1 to § 67-3-1303 shall be deleted and § 67-3-904 shall be substituted instead. Acts 1998, ch. 582, § 13 provided that the amendments by §§ 7-11 of that act apply retroactively to January 1, 1998. Acts 2013, ch. 176, § 1 provided that the act, which deleted subsection (a), shall be known and may be cited as the “Hawkins-Wilson Act.” Acts 2013, ch. 176, § 11 provided that nothing in the act, which deleted subsection (a), shall be construed so as to impair the obligation of any contract made by the state of Tennessee upon any bond of the state issued under title 9, chapter 9 outstanding as of July 1, 2013.