Any money granted by the state consolidation committee to any county or counties shall be used by the counties in the payment of the outstanding indebtedness of the county receiving the grant, and this grant shall have as its purpose the equalization of the burden of bonded indebtedness between the counties being absorbed and absorbing.
Structure 2021 Tennessee Code
Chapter 3 - Consolidation of Counties
§ 5-3-106. Dissolution of County — Transfer of Functions, Etc
§ 5-3-109. Indebtedness and Property
§ 5-3-110. Transfer of Court Records
§ 5-3-113. Debt Reorganization — Definition of Terms
§ 5-3-115. Debt Reorganization — Laws Relating to Particular County
§ 5-3-116. Debt Reorganization — Bond Interest and Maturity