1. Revenue from situs-based taxes. Counties within which new municipalities are incorporated shall continue to receive revenue from all state and local taxes distributed on the basis of situs of collection generated within the new municipality until July 1 following the incorporation, unless the incorporation takes place on July 1. In that case the city receives the revenue beginning July 1. This section also requires the city to notify the department of revenue of the incorporation. T.C.A. § 6-1-220; Acts 1998, Chapter 651.
2. State-shared revenues. Areas first incorporating on or after July 1, 1993, that produce no “local own source revenues in any fiscal year shall not receive any state-shared revenues during the next fiscal year.” T.C.A. § 6-1-201; Acts 1993, Chapter 320.
3. Deposits of municipal funds. Any depository of municipal funds must secure the funds by collateral in the same manner and under the same conditions as state deposits under title 9, chapter 4, parts 1 and 4, or as provided in the collateral pool created under title 9, chapter 4, part 5. T.C.A. § 6-4-402; Acts 1994, Chapter 752.