MN HF770

$30,000,000 appropriated from bond proceeds to the Rural Finance Authority for agricultural loans to farmers, including the beginning farmer program, loan restructuring, seller-sponsored program, agricultural improvement loans, and livestock expansion/modernization loans

Loan priority must be given first to basic beginning farmer loans, second to seller-sponsored loans, and third to agricultural improvement loans

$30,000 appropriated for bond sale expenses to the commissioner of management and budget

Authorizes the sale and issuance of state bonds up to $30,030,000 to fund the appropriations

Rural Finance Authority must repay all debt service on bond proceeds, with loan participations priced to cover full interest, principal, and a reserve for potential losses