Report on Debt Obligation
Pursuant to Tenn. Code Ann. § 9-21-151, the State Funding Board has approved a Report on Debt Obligation, Form CT-0253. Public entities in Tennessee issuing debt must use this form for reporting. The State Funding Board additionally approved exemptions and clarifications to the Report of Debt Obligation.
The Report on Debt Obligation, Form CT-0253, must be filed with the governing body of the public entity issuing the debt not later than forty-five (45) days following the issuance or execution of a debt obligation by or on behalf of any public entity, with a copy (including attachments, if any) filed with the Division of Local Government Finance by email to: LGF@cot.tn.gov.
Public entities that fail to comply with the requirements of Tenn. Code Ann. § 9-21-151 will not be allowed to enter into any further debt obligations until they have complied with the law.
PLEASE NOTE: A public entity sending a Report on Debt Obligation, Form CT-0253, to the Division of Local Government Finance must identify in block 18 of the form (1) the authorized representative who reviews the form, and (2) the individual who prepares the form. A public entity submitting a form must provide contact information including an email or mailing address in order to receive an acknowledgement.
Report on Debt Obligation - Form CT-0253 - Revised February 6, 2020