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Polk County commission adopts resolution to request return of unclaimed funds from state treasury
Summary
The Polk County Commission passed a resolution requesting payment from the Tennessee State Treasurer of unclaimed funds remitted on behalf of the county and its agencies; the resolution cites Tennessee Code provisions and lists a total remittance amount presented during the meeting.
Polk County commissioners voted to adopt a resolution requesting that the Tennessee State Treasurer pay unclaimed balances previously remitted on behalf of Polk County and its agencies back to the county.
Meeting materials and a staff reading referenced the Uniform Unclaimed Property Act and several Tennessee Code sections; meeting remarks cited TCA provisions governing municipal requests for unclaimed balances. Staff read aloud an aggregate remittance amount of $6,067,325.49 that was presented as the total of the listed remittances in exhibit A attached to the resolution.
Commissioners moved and seconded the resolution, held a roll call vote and approved the measure. The resolution directs the county executive to take steps required by state law to request the unclaimed balances and authorizes retaining a sufficient amount to ensure payment of any future claims as allowed by TCA provisions cited in the resolution.
Ending: The resolution takes effect on adoption and staff will proceed with the state treasurer process identified in the resolution and meeting materials.
