LD 1020
pg. 10
Page 9 of 18 An Act To Authorize a General Fund Bond Issue To Stimulate Economic Growth and ... Page 11 of 18
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LR 2244
Item 1

 
A.__To provide technical assistance to agricultural
enterprises in this State for the design, construction or
improvement of commodity storage buildings, production
machinery and packing and marketing facilities;

 
B.__To provide loans for the purchase, construction or
renovation of buildings, equipment, docks, wharves, piers or
vessels used in connection with a commercial agricultural
enterprise;

 
C.__To provide loans for the purchase or improvement of
land:

 
(1)__In connection with development of new cranberry
acreage;

 
(2)__For irrigation reservoirs or to provide direct
access to water for irrigation;

 
(3)__Necessary for the start-up of a new agricultural
enterprise;

 
(4)__For the expansion of an existing agricultural
enterprise when the land acquisition is necessary to
comply with land use regulations; or

 
(5)__For the improvement of pastureland, including
seeding and actions to promote rotational grazing; and

 
D.__For the development of a business plan in accordance
with the provisions of section 436-A.

 
2.__Support for dairy farmers. At the time of a loan insurance
commitment from the authority, the commissioner may pledge money
in the fund as security for, and apply money in the fund to the
payment of principal, interest and other amounts due on, a term
loan insured by the authority to an eligible dairy farmer. In
order to provide monetary support for Maine milk producers, the
commissioner may take actions and direct the authority to take
actions to provide support, including:

 
A.__Entering into agreements necessary to sell, assign or
otherwise pledge amounts in the aggregate principal amount
of loans and undivided interests in a pool of loans; and

 
B.__Assigning or pledging any cash balances in the fund,
mortgages or other security to provide assurance that
amounts provided as monetary support by the commissioner to
milk producers are returned to their original sources.


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