2006 Minnesota Statutes

469.142 PURPOSES.
The purposes of a rural development financing authority are:
(1) to acquire, construct, improve, and equip projects comprising real and personal property
within or outside the state, used or useful for producing or processing products of agriculture,
including assembling, fabricating, manufacturing, mixing, storing, warehousing, distributing,
or selling;
(2) to investigate, improve, and develop methods of constructing, operating, and financing
such projects;
(3) to provide for the operation and maintenance of each project under an operating or
lease agreement with a person, firm, or corporation considered qualified by experience and
financial resources to assure that to the limit of its design and capacity it will make facilities for
efficient and economical processing of agricultural products available throughout the term of the
agreement to all producers contracting therefor;
(4) to promote agricultural, industrial, and scientific research in cooperation with state
institutions of higher learning and profit or nonprofit private corporations, associations, or
foundations;
(5) to assist in promoting new job opportunities through the development of natural resources
and the agricultural industry by cooperating with private companies and with agencies of the
federal and state governments and with agencies and political subdivisions of other states and of
foreign nations to engage in the processing of agricultural products;
(6) to enter into contracts with or to employ financial, management, and production
consultants, and scientific and economic specialists to develop and assist in promoting the
purposes of the authority and to assist in operating, maintaining, constructing, and financing
authority projects;
(7) to employ a financial management company to assist in organizing, initiating, developing,
and operating projects for the authority under terms and conditions agreed upon between the
authority and the company and to include any fee charged or to be charged by the company in the
total capital costs of each project to be financed; and
(8) to provide financial or other assistance to rail users as defined in section 222.48,
subdivision 6 , for the purpose of making capital investment loans for rail line rehabilitation.
History: 1987 c 291 s 143