The county trustee, for receiving and paying out money received from the sale of bonds and warrants issued and sold under this part, shall be entitled to a commission of one half of one percent (0.5%) for receiving the same, and one half of one percent (0.5%) for paying out the same. The trustee shall pay over to the trustee's successor in office any of the moneys and funds remaining in the trustee's hands at the expiration of the trustee's term of office, when the successor trustee has executed bond, as provided by § 69-5-908. It is the duty of such succeeding trustee to execute such bond, and for failure to do so, the succeeding trustee shall be liable to the penalties provided by § 69-5-908. Whichever trustee actually disburses the funds so arising from the sale of bonds or warrants shall be entitled to the commission of one half of one percent (0.5%); provided, that the succeeding trustee shall not be entitled to any commissions for receiving such funds from the predecessor trustee.
Structure 2021 Tennessee Code
Title 69 - Waters, Waterways, Drains and Levees
Chapter 5 - Drainage and Levee Districts
Part 9 - Bond Issues and Warrants
§ 69-5-901. County May Issue and Sell Drainage Bonds
§ 69-5-902. Payment of Assessments Before Issuance of Bonds
§ 69-5-903. Terms of Bonds — Signing — District to Be Indicated
§ 69-5-904. Bonds a Charge on Land in District Only
§ 69-5-905. Denominations of Bonds
§ 69-5-906. Multi-County Districts — Issuance and Payment of Bonds
§ 69-5-907. Payment in Installments — Bond to Secure Installments
§ 69-5-908. Bond of County Trustee
§ 69-5-909. Warrants Issued Instead of Bonds
§ 69-5-910. Surplus Funds From Sale of Bonds or Warrants
§ 69-5-911. Prepayment of Deferred Installments
§ 69-5-912. Payment of Assessments With Bonds or Coupons
§ 69-5-914. Multi-County Districts — Payment by Bond or Coupon
§ 69-5-915. Single County Districts — Monthly Settlements by Trustees
§ 69-5-916. Multi-County Districts — Monthly Settlements by Trustees
§ 69-5-917. Disposition of Receipts — Maintenance or Administration Certificates
§ 69-5-918. Lien of Maintenance or Administration Certificates
§ 69-5-919. Proceeds From Sale of Maintenance or Administration Certificates
§ 69-5-920. Refunding Bonds Authorized — Terms
§ 69-5-921. Petition for Issuance of Refunding Bonds
§ 69-5-922. Refunding Bonds — Notice of Hearing
§ 69-5-923. Refunding Bonds — Petition and Notice in Multi-County Districts
§ 69-5-924. Hearing — Remonstrance
§ 69-5-925. Refunding Bonds — Release of Landowner From Assessment
§ 69-5-926. Refunding Bonds — Extended Assessments
§ 69-5-927. Refunding Bonds — Powers Conferred on Board of Directors
§ 69-5-928. Borrowing Money to Pay Bonds and Interest
§ 69-5-929. Appointment of Receiver for Defaulting Drainage District
§ 69-5-930. Powers of Receiver — Removal and Appointment of Another