Tennessee Statutes
§ 54-9-204 — County highway bond account - Expenditure of funds
Tennessee·Title 54
In accordance with the bond resolution, the county trustee shall place in a special account, known as the county highway bond account, the amounts of state-aid road funds and state aid funds received for county highway purposes, but not exceeding fifty percent (50%) of the state aid funds, pledged to the payment of the principal of and interest on the bonds. The funds shall be expended for no other purpose. When an amount has been accumulated sufficient to pay the principal amount of the bonds, plus interest, the county trustee shall not place additional funds in the account.
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Tennessee § 54-9-204 (County highway bond account - Expenditure of funds) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Acts 1959, ch. 320, § 4; T.C.A., § 54-847; Acts 1983, ch. 320, § 9; 1988, ch. 750, § 56.
Nearby Sections
15
§ 54-1-101
Duties of commissioner§ 54-1-118
Contracting with University of Tennessee§ 54-1-125
§ 54-1-125§ 54-1-129
Informational signs§ 54-1-131
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