9-13-209 - Payment of costs Administrative personnel. - Tennessee Statutes

9-13-209. Payment of costs Administrative personnel.

(a)  When a local government is granted a loan guarantee, any costs as determined and approved by the state funding board which are associated with providing the loan guarantee or technical assistance, including, but not limited to, the services of the director and other personnel, shall be borne by such local government; provided, that such costs shall not exceed five percent (5%) of the amount of the loan guarantee.

(b)  The comptroller of the treasury shall provide any staff necessary to administer this part; provided, that, whenever possible and feasible, the director will utilize employees of such local government, county technical assistance service, or municipal technical advisory service to assist in the administrative tasks.

[Acts 1984, ch. 996, § 10; 1995, ch. 63, § 1.]