Tennessee Code 67-4-2911 – Remittance of taxes collected
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Terms Used In Tennessee Code 67-4-2911
- Collector: includes any person entrusted with the collection of public revenue. See Tennessee Code 1-3-105
- County: means a county or metropolitan government. See Tennessee Code 67-4-2903
- Governing body: means the county legislative body or metropolitan council. See Tennessee Code 67-4-2903
- Trustee: A person or institution holding and administering property in trust.
The taxes collected pursuant to this part shall be remitted by the collector to the county or metropolitan government trustee, who shall place the tax proceeds in the fund or funds designated by the governing body, but the tax proceeds shall be used exclusively for the purpose of funding capital expenditures for education, including the retirement of bonded indebtedness, the need for which is reasonably related to population growth.