Reviewed Date: 01/05/2023
The Industrial Building Revenue Bond Act of 1951 authorizes the issuance of industrial revenue bonds that are not backed by the city’s full faith and credit, in order to build, reconstruct, acquire, or improve industrial buildings. In order for bonds to be issued under this Act, a three-fourths majority vote of the registered voters in the municipality voting in a referendum on the issue must approve of the bond issuance. T.C.A. §§ 7-37-101 through 7-37-116.