5-3-109 - Indebtedness and property. - Tennessee Statutes

5-3-109. Indebtedness and property.

In the event of a favorable vote under § 5-3-104, the indebtedness of the petitioning county shall be and become the obligation of and against the absorbing county or counties, subject to limitations as set forth in any legislation hereinafter enacted and as set forth in the consolidation plan; and in a like manner the title to all the property, real, personal or mixed, or of whatever character, that belongs to the petitioning county, shall pass to and be and become the property of the absorbing county or counties.

[Acts 1939, ch. 224, § 8; C. Supp. 1950, § 136.7 (Williams, § 136.8); T.C.A. (orig. ed.), § 5-309.]