Tennessee Code 69-5-922 – Refunding bonds – Notice of hearing
Terms Used In Tennessee Code 69-5-922
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Lands: includes lands, tenements and hereditaments, and all rights thereto and interests therein, equitable as well as legal. See Tennessee Code 1-3-105
- Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
- Property: includes both personal and real property. See Tennessee Code 1-3-105
- signed: includes a mark, the name being written near the mark and witnessed, or any other symbol or methodology executed or adopted by a party with intention to authenticate a writing or record, regardless of being witnessed. See Tennessee Code 1-3-105
Upon the filing of a petition as for issuance of refunding bonds, it is the duty of the county legislative body to set a date for the hearing of such petition and to direct the county clerk to cause to be published a notice in substantially the following form:
To all persons or corporations interested in lands or other property lying in ______________ District, ______________ County, Tennessee, take notice: That the aforementioned district, acting through its board of directors, has filed with the county legislative body of ______________ County, Tennessee, a petition requesting the county legislative body to provide for the refunding of the outstanding bonded indebtedness of such district, and that any person or corporation owning or having any interest in any land or property in the district may appear before the county legislative body at the court house in ______________, Tennessee, at the hour of ____________________ o’clock, ____________________ M., on ____________________ the ____________________ day of ______________ 20____________________, and show cause why such bonds should not be refunded.
You are further notified that in the event the county legislative body, pursuant to the hearing, should enter an order, providing for the issuance of refunding bonds, any landowner shall have the right at any time within two (2) weeks from and after the entering of such order within which to pay the full amount of the principal tax or assessment chargeable to such landowner’s land or any tract thereof, for the payment of the bonds proposed to be refunded, and any tract on which such tax or assessment shall be so paid shall thereupon be released from any tax or assessment for the payment of the refunding bonds so authorized to be issued, but shall remain subject to such other or additional taxes, if any, as may be levied pursuant to law. Take notice also that in the event a remonstrance or remonstrances against the issuance of refunding bonds be filed with the county legislative body on or prior to the date hereinabove set forth, signed by sixty percent (60%) or more of the landowners owning sixty percent (60%) or more of the aggregate acreage of lands within the district, then the county legislative body shall enter an order denying and dismissing the petition of the board of directors above referred to.
By order of the county legislative body of ______________ County, Tennessee, this ____________________ day of ____________________, 20____________________
______________
County Clerk
Such notice shall be published weekly for at least two (2) consecutive weeks in some newspaper published in the county and having a general circulation in the district, and the first of such publications shall occur at least ten (10) days prior to the date set for such hearing, and the last of such publications shall occur not more than seven (7) days prior to such date. A copy of such notice shall also be posted in a conspicuous place at the court house of the county where the hearing is to be held at least ten (10) days prior to the date set for such hearing.