Tenn. Comp. R. & Regs. 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.
Notes
Authority: T.C.A. ยงยง 4-3-510 through 4-3-515, 4-5-201 et seq., 11-1-101, and Governor Haslam's Executive Order Number 25.
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.