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Form a Business

Proceeds to be kept in depository in separate account.

Memphis Charter, art. 53, § 518
in effect
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Sec. 518. - Proceeds to be kept in depository in separate account. All proceeds arising from the collection of assessments levied for an improvement shall as soon as collected be deposited by the City Treasurer or tax receiver in some bank designated by the legislative body of such City, and such collection shall not be deposited with the general funds of the City, but shall be considered a separate deposit to the account of "public improvement," and shall be drawn out on checks or order directing the amount designated therein to be paid out of the public improvement fund. (Acts 1907, ch. 341, § 10)
Source: City of Memphis, Code of Ordinances and Charter and Related Laws (Municode Library, library.municode.com)URL: https://library.municode.com/tn/memphis/codes/charter?nodeId=PTICHRELA_ART53STIMUNFRFOASLA_S518PRBEKEDESEACFetched: 10/28/2026

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