Tenn. town to buy Hybrid buses
The Tennessee Department of Economic and Community Development’s (ECD) Energy Division has awarded the City of Franklin a $200,000 grant to help purchase heavy duty electric hybrid passenger buses for the Franklin Transit Authority.
“Increasing our state’s energy efficiency by supporting communities that make it a priority is one way of promoting sound economic development policies that will help job creation in our state,” said Commissioner Matt Kisber. “This grant will allow them to accomplish some energy saving measures that will greatly improve the city’s energy efficiency.”
The energy grant program works in conjunction with the Governor’s Three-Star Community Program, which assists communities in preserving existing employment, creating new employment opportunities, improving family income and creating a strong leadership base for economic development.
The Energy Division of the Tennessee Department of Economic and Community Development, through federal funding from the U.S. Department of Energy, provides a broad range of energy efficiency programs to business and industry, state and local governments, schools and residential consumers. All programs focus on energy efficiency measures and promote energy cost savings. For more information, visit www.tnecd.gov or call the Energy hotline at 1-800-342-1340.
Weekly formula rate announced
Tennessee Department of Financial Institutions Acting Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 11.25 percent per annum.
The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 7.25 percent as published by the Federal Reserve on Decmeber 26.
Gonzales said the rate remains in effect until the average prime loan rate as announced by the Federal Reserve Bank changes.