The board may participate in loans made to finance agricultural resource projects by purchasing from a lender up to 75 percent of the amount of each eligible loan. If the loan participated in is for $500,000 or less, the loan may be for 100 percent of the cost of the project. If the loan participated in exceeds $500,000, the loan may not exceed 80 percent of the cost of the project. The lender shall service the loan or cause it to be serviced in a manner that equally protects the lender's and the board's interests.
1987 c 386 art 9 s 11
Structure Minnesota Statutes
Chapters 17 - 43 — Agriculture
Chapter 41A — Agricultural Development
Section 41A.02 — Definitions; Actions By The State.
Section 41A.021 — Successor Status.
Section 41A.022 — Minnesota Energy And Economic Development Authority; Successor Status.
Section 41A.0235 — Board Meetings By Telephone Or Other Electronic Means.
Section 41A.03 — Loan Guaranties.
Section 41A.035 — Agricultural Resources Loan Participation.
Section 41A.036 — Small Business Development Loans.
Section 41A.04 — Application And Approval.
Section 41A.05 — Minnesota Agricultural And Economic Development Account And Bonds.
Section 41A.06 — Project Taxes And Other Charges.
Section 41A.09 — Ethanol Development.
Section 41A.11 — Twenty-five By Twenty-five Goal.
Section 41A.12 — Agricultural Growth, Research, And Innovation Program.
Section 41A.14 — Agriculture Research, Education, Extension, And Technology Transfer Grant Program.
Section 41A.16 — Advanced Biofuel Production Incentive.
Section 41A.17 — Renewable Chemical Production Incentive.
Section 41A.18 — Biomass Thermal Production Incentive.
Section 41A.19 — Report; Incentive Programs.
Section 41A.20 — Siding Production Incentive.
Section 41A.21 — Oriented Strand Board Production Incentive.