Section 9-13-102 - Reduction of assessment of utility property as prerequisite for loan

Such loans shall be made only to such municipalities or counties as can be shown to have incurred unanticipated losses of revenue necessitated or prompted by decrees or orders of competent courts reducing the assessments of railroad or public utility properties which are centrally assessed by the comptroller of the treasury and the state board of equalization.Acts 1966 (2nd Ex. Sess.), ch. 3, § 2; T.C.A., § 9-1302; Acts 1995, ch. 305, § 95.