Section 7-32-140 - Power to borrow and pay for improvements

The municipalities affected by this chapter shall have the authority and power to borrow money for the purpose of making payments for the improvements contemplated in this chapter in anticipation of realization of funds, either by the sale of bonds or special assessments. Such municipalities are further authorized to make payments out of any funds on hand or such funds as may be available for either that portion of the work to be assessed against the abutting property owners or owners of property in a flood plain or to be paid by the municipality itself. Nothing in this chapter or chapter 33 of this title shall be construed to prohibit the municipalities affected hereby from making payment of the entire cost of such improvements out of any funds that may be provided or available for such purposes.Acts 1913 (1st Ex. Sess.), ch. 18, § 23; Shan., § 1991a84; Code 1932, § 3491; T.C.A. (orig. ed.), § 6-1140; Acts 2001, ch. 267, § 6.