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SF 2698 Senate Long Description

Requiring and providing for the rural finance authority to establish +and implement a wind turbine loan program to finance the purchase of wind+ turbines and associated equipment to be located on farms for production of +electricity to sell on the electrical grid; establishing a revolving fund for the+ deposit of loan repayments and appropriating money in the fund to the +commissioner of agriculture for the loan program; specifying borrower eligibility +requirements and providing for RFA direct loans or loan participation, specifying +interest rate and loan amortization limits and security requirements; +authorizing the RFA to impose an application fee, setting the initial fee, requiring +crediting of fees received to the revolving fund; specifying certain loan +criteria; authorizing the issuance of revenue bonds to finance the program(je)