42-5-118 - Application of airport revenues and sale proceeds. - Tennessee Statutes

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42-5-118. Application of airport revenues and sale proceeds.

The revenues obtained by a municipality from the ownership, control or operation of any airport or air navigation facility, including proceeds from the sale of any airport or portion thereof or air navigation facility property, may, subject to any contractual obligations with respect thereto, be used by a municipality for any municipal purpose, and any use thereof made prior to March 17, 1961, for any municipal purpose is ratified, validated and confirmed.

[Acts 1957, ch. 375, § 12; 1961, ch. 322, § 4; T.C.A., § 42-317.]

State Codes and Statutes

Statutes > Tennessee > Title-42 > Chapter-5 > Part-1 > 42-5-118

42-5-118. Application of airport revenues and sale proceeds.

The revenues obtained by a municipality from the ownership, control or operation of any airport or air navigation facility, including proceeds from the sale of any airport or portion thereof or air navigation facility property, may, subject to any contractual obligations with respect thereto, be used by a municipality for any municipal purpose, and any use thereof made prior to March 17, 1961, for any municipal purpose is ratified, validated and confirmed.

[Acts 1957, ch. 375, § 12; 1961, ch. 322, § 4; T.C.A., § 42-317.]

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State Codes and Statutes

Statutes > Tennessee > Title-42 > Chapter-5 > Part-1 > 42-5-118

42-5-118. Application of airport revenues and sale proceeds.

The revenues obtained by a municipality from the ownership, control or operation of any airport or air navigation facility, including proceeds from the sale of any airport or portion thereof or air navigation facility property, may, subject to any contractual obligations with respect thereto, be used by a municipality for any municipal purpose, and any use thereof made prior to March 17, 1961, for any municipal purpose is ratified, validated and confirmed.

[Acts 1957, ch. 375, § 12; 1961, ch. 322, § 4; T.C.A., § 42-317.]