Tennessee § 68-221-509 Allocation of loan funds - Criteria

Tennessee Statutes

§ 68-221-509 — Allocation of loan funds - Criteria

Tennessee § 68-221-509

Title68

This text of Tennessee § 68-221-509 (Allocation of loan funds - Criteria) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 68-221-509 (2026).

Text

In allocating loan funds to municipalities, the department shall give consideration to, and apply, the following standards and criteria:

(1)The need and desirability for water to be supplied by the proposed waterworks construction;

(2)The need for upgrading the quality of water of an existing waterworks;

(3)The ability of the municipality to secure borrowed money from other sources and costs thereof;

(4)If the purpose of the loan is to extend water service into an area outside the boundaries of incorporated towns and cities or special districts, the greater capability of another municipality to provide water in the area, if such other municipality is permitted by law to serve the area and will make a commitment satisfactory to the department to extend such service into the area;

(5)Th

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In allocating loan funds to municipalities, the department shall give consideration to, and apply, the following standards and criteria: (1) The need and desirability for water to be supplied by the proposed waterworks construction; (2) The need for upgrading the quality of water of an existing waterworks; (3) The ability of the municipality to secure borrowed money from other sources and costs thereof; (4) If the purpose of the loan is to extend water service into an area outside the boundaries of incorporated towns and cities or special districts, the greater capability of another municipality to provide water in the area, if such other municipality is permitted by law to serve the area and will make a commitment satisfactory to the department to extend such service into the area; (5) The enhancement of the economic development of the state, the region or the locality; (6) The upgrading of the quality of life of the state, the region or the locality; (7) The achievement of a political equity or balance across the state and between such diversities or interests as cities and counties, urban areas and rural areas, and grand divisions; and (8) In the case of a special district, the financial stability of the district, and no funds shall be made available to a district when there is reason to believe that the funds may not be repaid.