Rules & Regulations of the State of Tennessee
Title 1715 - Utility Management Review Board
Chapter 1715-03 - Utility Relocation Loan Program
Section 1715-03-.03 - DETERMINATION OF ELIGIBILITY

1. The applicant is a local government as defined in this chapter;

2. The applicant shall certify that the additional debt, together with the applicant's existing debt, is within the debt limitation provisions of the general laws of the State;

3. The applicant will comply with all applicable laws, rules, and regulations of the State; and

4. As determined from the detailed engineering report and other available information, the estimated revenues to be derived from the project under the applicant's proposed schedule of fees and charges will provide for proper operation, maintenance, depreciation, administration, reasonable expansion of the utility facilities and repayment of present and proposed indebtedness. For this purpose, if the project described in the application is to be an integral part of existing utility facilities, the revenues to be derived from operation of the entire system shall be utilized in determining the adequacy of the applicant's proposed schedule of fees and charges.

1. A letter from the local government;

2. A letter from the Tennessee Department of Transportation describing the project and requiring the local government to relocate its utility facilities;

3. An engineering report describing the project, including all estimated costs;

4. Estimated time of construction;

5. Cash flow projections;

6. Evidence of inability to obtain other financing, including but not limited to letters from lending institutions; and

7. Three (3) years of audited financial statements.