Tennessee § 5-3-123 - State consolidation grants — Issuance.
Full text of Tennessee Tennessee Code Annotated § 5-3-123 — State consolidation grants — Issuance., with citation guidance and answers to common questions.
§ 5-3-123. State consolidation grants — Issuance.
The proceeds derived from the sale of bonds issued under the authority of §§ 5-3-122 — 5-3-125 shall be deposited in a special fund to be used by the state consolidation committee for use as described in subsection (b). Within sixty (60) days after an entire county has consolidated with any other county, according to law, the state consolidation committee shall make a grant out of the proceeds of state bonds as described in subsection (a), to both the absorbed county and the absorbing county. This grant shall be made, not to exceed fifty thousand dollars ($50,000) each, both to the absorbing county and absorbed county. In the event that a portion of any county is absorbed by another county, the state consolidation committee shall make a grant, which shall be computed as follows: The amount of money to be granted for the portion of the absorbed county shall be that proportion of fifty thousand dollars ($50,000) that the amount of the assessed valuation being absorbed bears to the total taxable valuation of the whole county, a portion of which is being absorbed. In the event that only a portion of a county is absorbed by another county, the state consolidation committee shall grant as much money to the absorbing county as is granted to the absorbed county. Acts 1939, ch. 226, § 2; C. Supp. 1950, § 136.19 (Williams, § 136.22); T.C.A. (orig. ed.), § 5-323. Textbooks. Tennessee Jurisprudence, 8 Tenn. Juris., Counties, § 6.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 5-3-123
What does Tennessee Code Annotated § 5-3-123 cover?
Section 5-3-123 ("State consolidation grants — Issuance.") 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 § 5-3-123?
A common citation format is "Tennessee Code Annotated § 5-3-123" (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 § 5-3-123 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.