7-83-307 - Funds for payment of preliminary expenses. - Tennessee Statutes

7-83-307. Funds for payment of preliminary expenses.

(a)  Any municipality situated within the territorial limits of a district may advance funds to such district to pay the preliminary organization and administration expenses of the district, on such terms of repayment as the governing body of such municipality shall determine.

(b)  Notwithstanding the provisions of any law to the contrary, any such municipality is authorized and empowered to borrow money for a period not to exceed one (1) year from the date of such borrowing, for the purpose of making such advances.

[Acts 1935 (E.S.), ch. 4, § 13; C. Supp. 1950, § 3708.59 (Williams, § 3708.62); T.C.A. (orig. ed.), § 6-2715.]