Section 285.272 – Pledge and Agreement of State With Holders of Notes or Bonds.
285.272 Pledge and agreement of state with holders of notes or bonds. Sec. 22. The state pledges and agrees with the holders of any notes or bonds issued under this act, that the state will not limit or alter the rights vested in the authority to fulfill the terms of an agreement made with the […]
Section 285.273 – Default by Authority; Appointment and Powers of Trustee; Notice by Trustee.
285.273 Default by authority; appointment and powers of trustee; notice by trustee. Sec. 23. (1) If the authority defaults in the payment of principal of or interest on an issue of notes or bonds after the notes or bonds become due, whether at maturity or upon call for redemption, and that default continues for a […]
Section 285.258 – Combining Program With Other State or Federal Programs.
285.258 Combining program with other state or federal programs. Sec. 8. A program authorized by this act may be combined with any other state or federal program in order to facilitate the acquisition of agricultural land, agricultural improvements, and depreciable agricultural property by beginning farmers. History: 1982, Act 220, Imd. Eff. July 10, 1982
Section 285.259 – Beginning Farmer Loan Program; Development; Exercise of Powers by Authority; Participation in Federal and State Programs; Requirements for Providing Loan to Beginning Farmer; Acceleration of Loan; Assumption of Mortgage; Transfer of Interest; Participation Interest in Mortgage Loan.
285.259 Beginning farmer loan program; development; exercise of powers by authority; participation in federal and state programs; requirements for providing loan to beginning farmer; acceleration of loan; assumption of mortgage; transfer of interest; participation interest in mortgage loan. Sec. 9. (1) The authority shall develop a beginning farmer loan program to facilitate the acquisition of […]
Section 285.260 – Making, Purchasing, or Participating in Loans, Grants, or Deferred Payment Loans to Beginning Farmers; Secured or Unsecured Loans and Grants; Insurance; Interest Rate; Terms and Conditions; Rules.
285.260 Making, purchasing, or participating in loans, grants, or deferred payment loans to beginning farmers; secured or unsecured loans and grants; insurance; interest rate; terms and conditions; rules. Sec. 10. (1) The authority may make, purchase, or participate in loans, grants, or deferred payment loans to beginning farmers to finance the acquisition of agricultural land, […]
Section 285.261 – Loans to Mortgage Lenders; Requirements and Conditions.
285.261 Loans to mortgage lenders; requirements and conditions. Sec. 11. (1) The authority may make and contract to make loans to mortgage lenders on terms and conditions it determines are reasonably related to protecting the security of the authority’s investment and to implementing the purposes of this act. Mortgage lenders are authorized to borrow from […]
Section 285.262 – Purchasing Mortgage or Secured Loans From Mortgage Lenders; Commitment to Purchase; Requirements and Conditions.
285.262 Purchasing mortgage or secured loans from mortgage lenders; commitment to purchase; requirements and conditions. Sec. 12. (1) The authority may purchase and make advance commitments to purchase mortgage or secured loans from mortgage lenders at prices and upon terms and conditions the authority determines. However, the total purchase price for all mortgage or secured […]
Section 285.263 – Bonds and Notes; General Obligations; Negotiability; Issuance Subject to Agency Financing Reporting Act.
285.263 Bonds and notes; general obligations; negotiability; issuance subject to agency financing reporting act. Sec. 13. (1) The authority may issue its negotiable bonds and notes in a principal amount, which in the opinion of the authority is necessary to provide sufficient funds for achieving its corporate purposes, the payment of interest on bonds and […]
Section 285.264 – Bonds and Notes; Authorization; Requirements; Sale.
285.264 Bonds and notes; authorization; requirements; sale. Sec. 14. The notes and bonds shall be authorized by resolution of the members of the authority; shall bear a date or dates; and shall mature at a time or times, in the case of any note, or any renewal of a note, not exceeding 10 years, from […]
Section 285.265 – Resolution Authorizing Notes or Bonds; Provisions.
285.265 Resolution authorizing notes or bonds; provisions. Sec. 15. A resolution authorizing notes or bonds or an issue of notes or bonds may contain provisions, which shall be a part of the contract with the holders of the notes or bonds, as to: (a) Pledging all or any part of the fees and charges made […]