§ 4-8-404 — David Crockett commission fund - Exhaustion of private funds before use of state funds

(a) The monument or statue of David Crockett may be erected using a combination of state and private funds. However, it is the general assembly's intent that any available private funding is used to the full extent possible and that no state funds shall be used for such project until all private funding is exhausted. (b) (1) There is created a separate account within the state treasury to be known as the David Crockett commission fund. (2) The David Crockett commission fund is composed of: (A) Funds appropriated by the general assembly for the David Crockett commission fund; and (B) Gifts, grants, and other donations received by the commission for the David Crockett commission fund from nonstate sources. (3) Money in the David Crockett commission fund may be used by the commission for the purposes for which the commission was created. (4) At the end of each fiscal year, the commissioner of finance and administration shall carry forward any amounts remaining in the David Crockett commission fund. (5) Moneys in the David Crockett commission fund must be invested by the state treasurer pursuant to title 9, chapter 4, part 6, for the sole benefit of the David Crockett commission fund, and interest accruing on investments and deposits of such fund must be returned to such fund and remain part of the David Crockett commission fund. (6) After the termination of the commission pursuant to § 4-8-405 , any moneys remaining in the David Crockett commission fund must remain in the fund and be expended for the upkeep and maintenance of the monument or statue until all funds in the account are exhausted.

Legislative History

Amended by 2018 Tenn. Acts, ch. 878, s 2, eff. 7/1/2018. Acts 2012, ch. 1064, § 4.