Minnesota Administrative Rules

1655.0011 APPLICABILITY AND PURPOSE.

Subpart 1.

Applicability.

This chapter establishes the criteria and procedures to be used by the RFA in administering the livestock expansion loan program authorized by Minnesota Statutes, section 41B.045.

Subp. 2.

Purpose.

The purpose of the RFA livestock expansion loan program and for the issuance of bonds to finance the program is to promote livestock in the state and encourage the adoption of efficient, state of the art production facilities and practices. This is accomplished by participating in loans made to applicants who meet the eligibility requirements in this chapter. The repayment of the loans must be secured by mortgage liens on real property.

Statutory Authority:

MS s 41B.07

History:

20 SR 2427

Published Electronically:

September 10, 2007