Tenn. Comp. R. & Regs. 0400-60-05-.07

Current through October 22, 2024

Section 0400-60-05-.07 - LOAN TERM AND INTEREST RATE

The maximum loan term is seven (7) years. A participating local government may prepay the loan at any time without penalty. TDEC will announce the loan interest rate for local governments in distressed counties and the loan interest rate for local governments in non-distressed counties in an annual program directive memorandum.

Tenn. Comp. R. & Regs. 0400-60-05-.07

Original rules filed January 17, 2017; effective 4/17/2017. Rule renumbered from 0500-03-05.

Authority: T.C.A. §§ 4-3-510 through 4-3-515, 4-5-201 et seq., 11-1-101, and Governor Haslam's Executive Order Number 25.