29-17-913 - Payment of judgments Interest. - Tennessee Statutes

29-17-913. Payment of judgments Interest.

(a)  All judgments rendered against a municipality, county or the state shall be paid out of the general funds of the municipality, county or state, whichever may be the condemner, together with interest at the rate of two percentage points (2%) greater than the prime loan rate established, as of the date of the taking, by the federal reserve system of the United States on any excess of the amount awarded an owner over the amount deposited with the clerk.

(b)  All judgments rendered against a levee or drainage district, which condemns property in accordance with § 29-17-901(a)(2), shall be paid from funds collected as provided in title 69, chapter 6, together with interest at the rate of six percent (6%) on any excess of the amount awarded an owner over the amount deposited with the clerk.

[Acts 1959, ch. 216, § 13; T.C.A., § 23-1540; Acts 1981, ch. 248, §§ 4, 5; 1981, ch. 263, § 2; 1994, ch. 800, § 1; T.C.A. § 29-17-813; Acts 2006, ch. 863, § 1.]