Minn. R. agency 109, ch. 1650, AGRICULTURAL DEVELOPMENT BOND BEGINNING FARMER LOAN PROGRAM, pt. 1650.0501
Current through Register Vol. 49, No. 19, November 4, 2024
Parts 1650.0501 to 1650.0571 establish the criteria and procedures to be used by the RFA in administering the agricultural development bond beginning farmer loan program authorized by Minnesota Statutes, chapter 41C.
The purpose of the agricultural development bond or "aggie bond" beginning farmer loan program is to facilitate the acquisition of agricultural land and improvements and depreciable agricultural property by beginning farmers. This is accomplished through the issuance of tax exempt bonds, which provides eligible farmers with borrowed capital at below market interest rates.
Minn. R. agency 109, ch. 1650, AGRICULTURAL DEVELOPMENT BOND BEGINNING FARMER LOAN PROGRAM, pt. 1650.0501
Statutory Authority: MS s 41C.13