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Senate Bill 781

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Item’s are ‘child’ level descriptions to ‘parent’ objects, (e.g. one page of a whole book).

  • SECTION 8. BE IT FURTHER ENACTED, That the proceeds of said bonds and of the bond anticipation notes herein authorized (except the proceeds of bonds the issuance of which has been anticipated by such bond anticipation notes) shall be placed by the Treasurer in a special fund to be designated "Tennessee Great Smoky Mountains Park Fund" and be disbursed only for the purposes provided in this Act. SECTION 9. BE IT FURTHER ENACTED, That by and with the consent of the Governor and Treasurer of State, who shall determine the rate or maximum rate of interest and the date or approximate date of payment, the State Treasurer is hereby authorized to borrow money at the lowest rate of interest obtainable, and to execute and issue notes of the State for the same, but only in the following circumstances and under the following conditions : (a) For anticipating the sale of any of said bonds, if the Treasurer shall deem it advisable to postpone the issuance of such bonds. (b) For the payment of interest upon or any installment of principal of any of said bonds then outstanding if there shall not be sufficient funds in the State Treasury with which to pay such interest or installments as they respectively fall due. (c) For the renewal of any loan evidenced by notes herein authorized. SECTION 10. BE IT FURTHER ENACTED, That notes issued in anticipation of the sale of said bonds shall be paid with funds derived from the sale of the bonds unless otherwise provided for by the General Assembly, and notes issued for the payment of interest and installments of principal shall be paid from funds provided by the General Assembly for the payment of such interest and principal when such funds are collected. Interest payments upon said notes may be evidenced by interest coupons in the Treasurer's discretion. SECTION 11. BE IT FURTHER ENACTED, That the full faith, credit, and taxing power of the State are here- —12—
Object
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Object’s are ‘parent’ level descriptions to ‘children’ items, (e.g. a book with pages).