§ 4-31-204. Loans — Prerequisites to Action Under § 4-31-203
Prior to an exercise of powers conferred by § 4-31-203(b), the authority shall: Require the lender to certify that the loan at the time of making was, is or will be in all respects a prudent investment; Require the lender to certify that it would not have made the loan if the authority had not […]
§ 4-31-205. Bonds and Notes
For the purpose of providing moneys to assist lenders in providing moneys to finance agricultural enterprises, the authority, in addition to the powers otherwise granted by law, has the power and is hereby authorized to issue from time to time negotiable bonds and notes of the authority. The proceeds of such bonds and notes may […]
§ 4-31-206. False Statements — Felony
It is unlawful for any person to knowingly make, utter or publish a false statement of substance or aid or abet another person in making, uttering or publishing a false statement of substance for the purpose of influencing the authority to make a loan or deposit to finance an agricultural enterprise or to purchase a […]
§ 4-31-201. Short Title
This part shall be known and may be cited as the “Tennessee Agricultural Development Act.”
§ 4-31-202. Legislative Findings
The general assembly finds and declares that: The high cost and limited availability of agricultural financing threatens to halt needed expansion or even perpetuation of many farm operations and related enterprises in Tennessee; These conditions severely limit the ability of young persons to begin farming or to carry on family farming traditions; Resulting shortages in […]
§ 4-31-203. Loans — General Power of Authority
The authority may make, and undertake commitments to make, loans to or deposits with lenders under the agricultural development loan program for the financing of certain agricultural enterprises under terms and conditions that shall: Require the proceeds thereof to be used by such lenders to make loans for agricultural enterprises; and Require that no loans […]