Tennessee Code Title 9. Public Finances § 9-13-206

(1) Approved by the comptroller of the treasury or the comptroller's designee and guaranteed by the state funding board;

(2) Approved by the comptroller of the treasury or the comptroller's designee in the case of economic distress due to a natural disaster certified by the federal emergency management agency (FEMA);  or

(3) Approved by the comptroller of the treasury or the comptroller's designee after the local government has reasonably demonstrated to the comptroller or the comptroller's designee that a natural disaster has caused economic distress to the local government.