According to T.C.A. § 9-21-207(a)(2), what happens if no petition is filed within 20 days?

Under T.C.A. § 9-21-207(a)(2), if no petition is filed within the designated 20-day period, the result is that no election regarding the bond issue will take place. This provision is in place to ensure that there is a mechanism for public input and scrutiny of proposed bond issues. Without a petition from the public to trigger a vote, the proposed bond cannot move forward to an election phase. This safeguards against the imposition of bond issuances without establishing a direct interest or concern from the community.

This context reinforces the importance of public engagement in the financial decisions affecting local governments, ensuring transparency and accountability in municipal finance. The other options suggest actions that would occur despite the lack of public petitioning, which would not be aligned with the requirements outlined in the statute.