Tennessee § 69-5-1108 Proceeds of bond sale

Tennessee Statutes

§ 69-5-1108 — Proceeds of bond sale

Tennessee § 69-5-1108

Title69

This text of Tennessee § 69-5-1108 (Proceeds of bond sale) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 69-5-1108 (2026).

Text

The proceeds of the bonds, when sold, shall be deposited with one (1) or more of the trustees as directors of such district shall direct, but so the same, or any part thereof, that may be placed in the hands of a county trustee other than the trustee of the county where the proceeding is pending, may be transferred to the trustee of the county where the proceeding is pending, if deemed best, to the end that the entire fund may be paid out by the trustee on proper warrants drawn. The county mayor of the county where the proceeding is pending shall draw all warrants upon, or against the funds, or proceeds of bonds to meet lawful demands of the district, as now provided by law, and draw warrants to transfer the funds as provided in this section. But any of the trustees before receiving any of

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The proceeds of the bonds, when sold, shall be deposited with one (1) or more of the trustees as directors of such district shall direct, but so the same, or any part thereof, that may be placed in the hands of a county trustee other than the trustee of the county where the proceeding is pending, may be transferred to the trustee of the county where the proceeding is pending, if deemed best, to the end that the entire fund may be paid out by the trustee on proper warrants drawn. The county mayor of the county where the proceeding is pending shall draw all warrants upon, or against the funds, or proceeds of bonds to meet lawful demands of the district, as now provided by law, and draw warrants to transfer the funds as provided in this section. But any of the trustees before receiving any of the proceeds of such bonds shall give bond to account for them as the law now provides.

Legislative History

Acts 1915, ch. 61, §6; Shan., § 3871a168; Code 1932, §4404; impl. am. Acts 1978, ch. 934, §§ 16, 36; T.C.A. (orig. ed.), §70-1513; Acts 2003 , ch. 90, § 2; T.C.A. § 69-6-1108.