Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Disaster Finance topic
No spam. Unsubscribe anytime.
Greene County files CT053 disclosure for $17.64M HEAL loan tied to Hurricane Helene recovery
Summary
County officials filed the required CT053 disclosure for a $17,642,222 TEMA HEAL loan dated Nov. 24, 2024 to fund Helene disaster recovery; the form shows 0% interest and repayment from FEMA grant funds by Nov. 24, 2034.
Greene County announced on Jan. 21 that it filed the CT053 debt-obligation report required by the Tennessee Comptroller to disclose a Helene Emergency Assistance Loan (HEAL) arranged through the Tennessee Emergency Management Agency (TEMA).
The CT053 form submitted to the comptroller lists a loan face amount of $17,642,222 dated Nov. 24, 2024, with a final maturity date of Nov. 24, 2034. The filing characterizes the loan as a TEMA loan tied to FEMA disaster-recovery grant funds and states the loan will be repaid from grant funds expected from FEMA; the CT053 shows the stated interest type as 0% under the TEMA program notation.
Why it matters: The HEAL loan is tied to Hurricane Helene recovery work and significant county-level disaster financing. The CT053 filing is a public disclosure the county must make to the comptroller and to the governing body; it is intended to inform commissioners and the public about the loan terms and repayment plan.
What the filing says: The CT053 report (dated in the record) describes the purpose as general government disaster recovery, including equipment and repair of water and wastewater systems, and lists that 100% of proceeds are allocated to that purpose. The filing identifies Stephens Inc. (advisor) and Bass, Berry & Sims (continuing-disclosure posting contact) on the form; the county's finance officials certified the report for presentation to the governing body.
Next steps and oversight: The CT053 record notes the county will post continuing-disclosure information to EMMA as required and deliver the CT053 to members of the governing body. County leaders said the loan will be repaid from FEMA grant funds on or before the Nov. 24, 2034 maturity date.
What officials said: The filing was acknowledged in the commission meeting and will be posted per comptroller directions; the form includes contact names for ongoing disclosure and the certification of the county mayor.
What to watch: How FEMA grant reimbursements are scheduled and whether any repayment obligations fall on the county if grant reimbursements are delayed or reduced. County staff said the loan will be repaid from FEMA funds and that continuing-disclosure filings will be posted to EMMA.
