469.148 APPLICATIONS FOR LOAN GUARANTIES.
The authority, or a county exercising the powers of an authority pursuant to section
469.144,
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
41A.01
to
41A.06, 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
41A.01 to
41A.06, 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