No county, incorporated city, or town shall subscribe to the capital stock of any railroad company under this chapter unless its railroad runs through the county or within one (1) mile of the incorporated city or town making the subscription; provided, that any county within which the railroad or any of its branches terminates may subscribe under this chapter.
Right to subscribe to stock
Tenn. Code Ann. § 65-7-102, under Subscription to Railroad Stock by Counties and Municipalities.
Tenn. Code Ann. § 65-7-102