MN SF1517

$50,000,000 appropriated from bond proceeds to the Rural Finance Authority for agricultural loans to farmers, including beginning farmer loans, loan restructuring, seller-sponsored loans, agricultural improvement loans, and livestock expansion/modernization loans

$50,000 appropriated for bond sale expenses to the commissioner of management and budget

Authorizes issuance of up to $50,050,000 in state bonds to fund the appropriations

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

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