State Codes and Statutes
Statutes > Tennessee > Title-9 > Chapter-11 > 9-11-1169-11-116. Enforcement powers of state director.
The state director shall require such periodic information from a unit operating under the provisions of this chapter and make such audits as the state director deems necessary, to the end that it may be ascertained that the budget of the unit is kept balanced during the life of bonds issued under the provisions of this chapter. The annual budget of each unit operating under the provisions of this chapter shall be submitted to the state director at least three (3) weeks prior to its adoption. The state director must thereupon determine whether or not the budget will be in balance in accordance with the provisions of this chapter. If the budget does not comply with the provisions of this chapter, the state director shall have the power and authority to direct the governing body of the unit to adjust its estimates or to make additional tax levies sufficient to comply with the provisions of this chapter. No budget shall be adopted by the governing body of a unit which shall have issued bonds under the provisions of this chapter until it shall have been approved by the state director. The state director shall approve the budget only when the director is satisfied that it complies with the provisions of this chapter.
[Acts 1937, ch. 300, § 17; C. Supp. 1950, § 3516.26 (Williams, § 3516.27); T.C.A. (orig. ed.), § 9-1116.]
