Tennessee § 49-3-323 - [Reserved.]
Full text of Tennessee Tennessee Code Annotated § 49-3-323 — [Reserved.], with citation guidance and answers to common questions.
§ 49-3-323. [Reserved.]
In any fiscal year in which an LEA is unable to operate, or to continue to operate, transportation services with available funds, the LEA may request a loan from any county or municipal fund that has sufficient anticipated end of year fund balance to finance the loan during the fiscal year, or from the state, in an amount adequate to operate transportation services for the school year. The loan must be approved by the county legislative body if a county board of education makes the request, or the municipal legislative body if a municipal board of education makes the request, and the comptroller of the treasury or the comptroller's designee, in either case. The loan shall be with interest at the formula rate pursuant to § 47-14-105 . The loan, both principal and interest, shall be repaid from the school operating funds of the LEA in the next fiscal year. If the state makes the loan and principal and interest are not repaid by the end of the fiscal year in which repayment is due, then the state shall withhold the amount due from state-shared revenue that would otherwise be distributed to the county, municipality or special school district. Acts 1992, ch. 927, § 1; 2010, ch. 868, § 78.
Frequently Asked Questions About Tennessee § 49-3-323
What does Tennessee Code Annotated § 49-3-323 cover?
Section 49-3-323 ("[Reserved.]") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Tennessee § 49-3-323?
A common citation format is "Tennessee Code Annotated § 49-3-323" (Tennessee). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 49-3-323 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Tennessee.