469.148 APPLICATIONS FOR LOAN GUARANTIES.
The authority, or a county exercising the powers of an authority pursuant to section
may undertake or participate in undertaking a project deemed to further the policies and purposes
of the agricultural resource loan guaranty program established and described in sections
, by applying to the Minnesota Agricultural and Economic Development Board for a
guaranty by the state of a portion of a loan for the project to be secured by the applicant, or
by another eligible borrower. For this purpose it may do all acts required of an applicant or
of a borrower under the provisions of sections
, including the computation,
segregation, and application of tax increments by deposit in the loan guaranty fund under the
terms of the loan guaranty.
History: 1987 c 291 s 149; 1987 c 386 art 9 s 20