5-3-117 - Debt reorganization Bond format and additional terms. - Tennessee Statutes

5-3-117. Debt reorganization Bond format and additional terms.

(a)  The governing body shall also by resolution determine the form of the bonds, the officers by whom they shall be executed and the place or places in Tennessee or in any other state at which the principal and interest shall be payable. In case any of the officers whose signatures or facsimile signatures appear on the bonds or coupons shall cease to be such officers before the delivery of such bonds, such signatures or facsimile signatures shall nevertheless be valid and sufficient for all purposes, the same as if they had remained in office until such delivery.

(b)  The bonds may be made registrable as to principal alone, or as to both principal and interest, under such terms and conditions as may be determined by the governing body, and provisions may be made for the exchange of fully registered bonds for coupon bonds and of coupon bonds for fully registered bonds.

[Acts 1939, ch. 225, § 4; C. Supp. 1950, § 136.13 (Williams, § 136.15); T.C.A. (orig. ed.), § 5-317.]