MN SF3752

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

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

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

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

All debt service on bond proceeds must be repaid by the Rural Finance Authority, with loan participations priced to cover full interest, principal, and a reserve for potential losses