Section 49-2-1103 - Administration of schools - Funds(a) The administration of schools established, maintained and operated pursuant to a contract entered into under this part may be placed under the board of education of the county, city or special school district in which the school is located; or the administration of the schools may be placed under a board of control created pursuant to the terms of the contract.(b) In the event a board of control is created, it shall elect its own chair and secretary and may designate as ex officio secretary the director of schools of the county, city or special school district in which the school is located. The board of control shall exercise all the administrative powers and functions with respect to the school that county boards of education are authorized to perform and exercise with respect to the operation of county schools.(c) The schools may be administered by such other persons and in such other manner as the terms of the contract may provide.(d) The county trustee or treasurer or other fiscal or disbursing officer, as the case may be, of the county, city or special school district in which the school is located, or such other disbursing officer as may be designated by the contract, shall have the same powers, rights and duties with respect to the receipt, protection and disbursement of the funds allocated to or for the use of the school as provided by law for other school funds.Acts 1957, ch. 12, § 4; T.C.A., § 49-413.