All proceeds arising from the collection of assessments levied for such improvements shall, as soon as collected, be deposited by the city treasurer in some bank to be designated by the legislative body of the municipality. Such collections shall not be deposited with the general funds of the city, but shall be considered a separate deposit to the account of “Public Improvement,” and shall be drawn out on checks or orders directing the amount designated in the checks or orders to be paid out of the “Public Improvement” funds.
Structure 2021 Tennessee Code
Title 7 - Consolidated Governments and Local Governmental Functions and Entities
Chapter 33 - Improvement Bonds
§ 7-33-101. Power to Issue Bonds to Pay Improvement Costs
§ 7-33-114. Assessments Set Aside for Payment of Bonds
§ 7-33-117. Collection of Assessments Notwithstanding Tax Levy
§ 7-33-118. Assessments and Bonds Unaffected by Irregularities
§ 7-33-119. Assessments Pledged for Payment of Bonds
§ 7-33-120. Segregation and Deposit of Assessment Collections