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TENNESSEE STATUTES AND CODES
54-2-206 - Reservation of loan funds Allocation request.
54-2-206. Reservation of loan funds Allocation request.
Whenever any political subdivision notifies the state treasurer of its intent to use surplus lands access improvement funds, the funds shall be reserved for a period not to exceed eighteen (18) months from the date of the passage of the ordinance or resolution accepting the use of surplus lands access improvement funds for a loan to the political subdivision for the sole purpose of financing access improvement projects as defined in this part. During the eighteen-month period, the political subdivision shall make to the access improvement project committee, as provided in § 54-2-207, an official request for allocation of the funds.
[Acts 1971, ch. 262, § 6; T.C.A., § 54-218.]