MN SF2917

Appropriates $40,000,000 from bond proceeds to the Rural Finance Authority for agricultural loans to farmers under five programs: beginning farmer loans, loan restructuring, seller-sponsored loans, agricultural improvement loans, and livestock expansion loans.

Requires loan participations to be priced to provide full interest and principal coverage with a reserve for potential losses, with priority given first to beginning farmer loans, second to seller-sponsored loans, and third to agricultural improvement loans.

Mandates the Rural Finance Authority repay all debt service on the bond proceeds under Minnesota Statutes section 16A.643.

Appropriates $40,000 from bond proceeds to the commissioner of management and budget for bond sale expenses.

Authorizes the commissioner of management and budget to sell and issue up to $40,040,000 in state bonds according to Minnesota Statutes sections 16A.631 to 16A.675 and the Minnesota Constitution.