MN SF1209

$30,000,000 appropriated to the Rural Finance Authority to purchase loan participation interests or make direct agricultural loans to farmers

Funds support five programs: beginning farmer program, loan restructuring program, seller-sponsored program, agricultural improvement loan program, and livestock expansion and modernization loan program

Loan priority order: basic beginning farmer loans first, seller-sponsored loans second, agricultural improvement loans third

Authorizes issuance of up to $30,030,000 in state bonds, with $30,000 allocated for bond sale expenses

Rural Finance Authority must repay all debt service; loan participations must cover full interest, principal, and loss reserves