Source: http://www.mtas.tennessee.edu/print/book/export/html/143122
Timestamp: 2019-08-20 07:13:24
Document Index: 19386658

Matched Legal Cases: ['§ 49', '§ 9', '§ 49', '§ 9', '§ 49', '§ 49']

MTAS-47
Generally, a city school system is entitled to a pro rata share of funds from the issue of county school bonds (including capital outlay notes) financed by a countywide tax levy, based on average daily attendance in county and city schools. That is true whether the bonds are issued under T.C.A. §§ 49-3-1201, et seq., or T.C.A. §§ 9-21-101, et seq. Cities are authorized to waive their right to a share of these funds. T.C.A. § 49-3-1003, T.C.A. § 9-21-129. However, if the county school project is financed by the county through a loan from the Tennessee State School Bond Authority for "qualified zone academy projects" under T.C.A. §§ 49-3-1201, et seq., the county is not required to share the proceeds of the loan with the city school system. A "qualified zone academy project" means "buildings, structures, improvements and equipment for schools of any local government." T.C.A. § 49-3-1206(d)(2). The Office of State and Local Finance in the Comptroller's office serves as staff to the Tennessee State School Bond Authority and is available to assist with questions related to these projects.
Source URL (retrieved on 08/20/2019 - 3:13am): http://www.mtas.tennessee.edu/reference/distribution-funds