Montana Code 80-12-103. Agricultural loan authority — general powers
80-12-103. Agricultural loan authority — general powers. The authority may:
Terms Used In Montana Code 80-12-103
- Authority: means the department of agriculture provided for in 2-15-3001. See Montana Code 80-12-102
- Bonds: means bonds or bond anticipation notes issued by the authority under the provisions of this chapter. See Montana Code 80-12-102
(1)retain professional consultants and advisers;
(2)adopt rules governing its procedures;
(3)purchase agricultural loans made by financial institutions;
(4)issue bonds, in accordance with 80-12-301, necessary to provide funds for implementing this chapter;
(5)invest any funds generated by sale of bonds in the permissible investments outlined in 17-6-211 until such time as the funds are needed for any of the authority’s other functions;
(6)procure insurance or guaranties in amounts and in the form the authority considers desirable or necessary, from any party, including a governmental agency, against any loss in connection with its loan agreements; and
(7)use the assistance and services of the farmers home administration, the production credit association, the federal land bank, or private lenders in approving loans for issuance of bonds.