Tenn. Code Ann. § 12-2-305
This is the official text of Tenn. Code Ann. § 12-2-305, part of Tennessee’s Code Ann — part of the compiled statutory law of Tennessee, published by the state as "Code Ann." Browse the sections below, each linked to its official government source.
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Provision in lease to convey title upon retirement of obligations
Official statutory text
Every lease and sublease made by a municipality with a not-for-profit corporation under § 12-2-302(3) shall include a provision requiring such not-for-profit corporation to transfer and convey all of its right, title and interest in and to the project covered thereby immediately upon the payment and retirement of all bonds and other obligations issued by such not-for-profit corporation for the purpose of financing the cost of such project. Acts 1965, ch. 328, § 5; impl. am. Acts 1968, ch. 523, § 1 (17.06); T.C.A., § 12-233.
Every lease and sublease made by a municipality with a not-for-profit corporation under § 12-2-302(3) shall include a provision requiring such not-for-profit corporation to transfer and convey all of its right, title and interest in and to the project covered thereby immediately upon the payment and retirement of all bonds and other obligations issued by such not-for-profit corporation for the purpose of financing the cost of such project.
Acts 1965, ch. 328, § 5; impl. am. Acts 1968, ch. 523, § 1 (17.06); T.C.A., § 12-233.
Every lease and sublease made by a municipality with a not-for-profit corporation under § 12-2-302(3) shall include a provision requiring such not-for-profit corporation to transfer and convey all of its right, title and interest in and to the project covered thereby immediately upon the payment and retirement of all bonds and other obligations issued by such not-for-profit corporation for the purpose of financing the cost of such project.
Acts 1965, ch. 328, § 5; impl. am. Acts 1968, ch. 523, § 1 (17.06); T.C.A., § 12-233.
Status: in_force
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