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Form a Business

Authority as to issuance and sale of bonds; incontestability of bonds.

Memphis Charter, art. 78, § 880
in effect
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Sec. 880. - Authority as to issuance and sale of bonds; incontestability of bonds. This Act shall, without reference to any other Act of the general assembly of the State of Tennessee, be full authority to the City of Memphis to issue and sell bonds as in this Act authorized, which shall have all the qualities of negotiable paper under the law merchant, and shall not be invalid for any irregularity or defect in the proceedings for the issue and sale thereof, and shall be incontestable in the hands of bona fide purchasers for value. No proceedings on the part of said City in respect to the issuance of any such bonds shall be necessary except such as are required by this Act. (Priv. Acts 1935, ch. 108, § 13, 1st Spec. Sess.)
Source: City of Memphis, Code of Ordinances and Charter and Related Laws (Municode Library, library.municode.com)URL: https://library.municode.com/tn/memphis/codes/charter?nodeId=PTICHRELA_ART78PUWOAC_S880AUISSABOINBOFetched: 10/28/2026

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