161A.71 CONSERVATION PRACTICES REVOLVING LOAN FUND.
1. The division may establish a conservation practices revolving
loan fund composed of any money appropriated by the general assembly
for that purpose, and of any other moneys available to and obtained
or accepted by the committee from the federal government or private
sources for placement in that fund. Except as otherwise provided by
subsection 3, the assets of the conservation practices revolving loan
fund shall be used only to make loans directly to owners of land in
this state for the purpose of establishing on that land any new
permanent soil and water conservation practice which the
commissioners of the soil and water conservation district in which
the land is located have found is necessary or advisable to meet the
soil loss limits established for that land. A loan shall not be made
for establishing a permanent soil and water conservation practice on
land that is subject to the restriction on state cost-sharing funds
of section 161A.76. Revolving loan funds and public cost-sharing
funds shall not be used in combination for funding a particular soil
and water conservation practice. Each loan made under this section
shall be for a period not to exceed ten years, shall bear no
interest, and shall be repayable to the conservation practices
revolving loan fund in equal yearly installments due March 1 of each
year the loan is in effect. The interest rate upon loans for which
payment is delinquent shall accelerate immediately to the current
legal usury limit. Applicants are eligible for no more than ten
thousand dollars in loans outstanding at any time under this program.
"Permanent soil and water conservation practices" has the same
meaning as defined in section 161A.42 and those established under
this program are subject to the requirements of section 161A.7,
subsection 3. Loans made under this program shall come due for
payment upon sale of the land on which those practices are
established.
2. The general assembly finds and declares the following:
a. The erosion of topsoil on agricultural land by wind and
water is a serious problem within the state and one which threatens
to destroy the natural resource most responsible for Iowa's
prosperity.
b. It is necessary to the preservation of the economy and
well-being of the state to encourage soil conservation practices by
providing loans for permanent soil and water conservation practices
on agricultural land within the state.
c. The use of state funds for the conservation practices
revolving loan fund established under subsection 1 is in the public
interest, and the purposes of this section are public purposes and
uses for which public moneys may be borrowed, expended, advanced,
loaned, or granted.
3. The division may:
a. Contract, sue and be sued, and promulgate administrative
rules necessary to carry out the provisions of this section, but the
committee shall not in any manner directly or indirectly pledge the
credit of the state of Iowa.
b. Authorize payment from the conservation practices
revolving loan fund and from fees for costs, commissions, attorney
fees and other reasonable expenses related to and necessary for
making and protecting direct loans under this section, and for the
recovery of moneys loaned or the management of property acquired in
connection with such loans.
4. This section does not negate the provisions of section 161A.48
that an owner or occupant of land in this state shall not be required
to establish any new soil and water conservation practice unless
public cost-sharing funds have been approved and are available for
the land affected. However, the owner of land with respect to which
an administrative order to establish soil and water conservation
practices has been issued under section 161A.47 but not complied with
for lack of public cost-sharing funds, may waive the right to await
availability of such funds and instead apply for a loan under this
section to establish any permanent soil and water conservation
practices necessary to comply with the order. If a landowner does
so, that loan application shall be given reasonable preference by the
state soil conservation committee if there are applications for more
loans under this section than can be made from the money available in
the conservation practices revolving loan fund. If it is found
necessary to deny an application for a soil and water conservation
practices loan to a landowner who has waived the right to
availability of public cost-sharing funds before complying with an
administrative order issued under section 161A.47, the landowner's
waiver is void.
161A.71 CONSERVATION PRACTICES REVOLVING LOAN FUND.
1. The division may establish a conservation practices revolving
loan fund composed of any money appropriated by the general assembly
for that purpose, and of any other moneys available to and obtained
or accepted by the committee from the federal government or private
sources for placement in that fund. Except as otherwise provided by
subsection 3, the assets of the conservation practices revolving loan
fund shall be used only to make loans directly to owners of land in
this state for the purpose of establishing on that land any new
permanent soil and water conservation practice which the
commissioners of the soil and water conservation district in which
the land is located have found is necessary or advisable to meet the
soil loss limits established for that land. A loan shall not be made
for establishing a permanent soil and water conservation practice on
land that is subject to the restriction on state cost-sharing funds
of section 161A.76. Revolving loan funds and public cost-sharing
funds shall not be used in combination for funding a particular soil
and water conservation practice. Each loan made under this section
shall be for a period not to exceed ten years, shall bear no
interest, and shall be repayable to the conservation practices
revolving loan fund in equal yearly installments due March 1 of each
year the loan is in effect. The interest rate upon loans for which
payment is delinquent shall accelerate immediately to the current
legal usury limit. Applicants are eligible for no more than ten
thousand dollars in loans outstanding at any time under this program.
"Permanent soil and water conservation practices" has the same
meaning as defined in section 161A.42 and those established under
this program are subject to the requirements of section 161A.7,
subsection 3. Loans made under this program shall come due for
payment upon sale of the land on which those practices are
established.
2. The general assembly finds and declares the following:
a. The erosion of topsoil on agricultural land by wind and
water is a serious problem within the state and one which threatens
to destroy the natural resource most responsible for Iowa's
prosperity.
b. It is necessary to the preservation of the economy and
well-being of the state to encourage soil conservation practices by
providing loans for permanent soil and water conservation practices
on agricultural land within the state.
c. The use of state funds for the conservation practices
revolving loan fund established under subsection 1 is in the public
interest, and the purposes of this section are public purposes and
uses for which public moneys may be borrowed, expended, advanced,
loaned, or granted.
3. The division may:
a. Contract, sue and be sued, and promulgate administrative
rules necessary to carry out the provisions of this section, but the
committee shall not in any manner directly or indirectly pledge the
credit of the state of Iowa.
b. Authorize payment from the conservation practices
revolving loan fund and from fees for costs, commissions, attorney
fees and other reasonable expenses related to and necessary for
making and protecting direct loans under this section, and for the
recovery of moneys loaned or the management of property acquired in
connection with such loans.
4. This section does not negate the provisions of section 161A.48
that an owner or occupant of land in this state shall not be required
to establish any new soil and water conservation practice unless
public cost-sharing funds have been approved and are available for
the land affected. However, the owner of land with respect to which
an administrative order to establish soil and water conservation
practices has been issued under section 161A.47 but not complied with
for lack of public cost-sharing funds, may waive the right to await
availability of such funds and instead apply for a loan under this
section to establish any permanent soil and water conservation
practices necessary to comply with the order. If a landowner does
so, that loan application shall be given reasonable preference by the
state soil conservation committee if there are applications for more
loans under this section than can be made from the money available in
the conservation practices revolving loan fund. If it is found
necessary to deny an application for a soil and water conservation
practices loan to a landowner who has waived the right to
availability of public cost-sharing funds before complying with an
administrative order issued under section 161A.47, the landowner's
waiver is void.
161A.71 CONSERVATION PRACTICES REVOLVING LOAN FUND.
1. The division may establish a conservation practices revolving
loan fund composed of any money appropriated by the general assembly
for that purpose, and of any other moneys available to and obtained
or accepted by the committee from the federal government or private
sources for placement in that fund. Except as otherwise provided by
subsection 3, the assets of the conservation practices revolving loan
fund shall be used only to make loans directly to owners of land in
this state for the purpose of establishing on that land any new
permanent soil and water conservation practice which the
commissioners of the soil and water conservation district in which
the land is located have found is necessary or advisable to meet the
soil loss limits established for that land. A loan shall not be made
for establishing a permanent soil and water conservation practice on
land that is subject to the restriction on state cost-sharing funds
of section 161A.76. Revolving loan funds and public cost-sharing
funds shall not be used in combination for funding a particular soil
and water conservation practice. Each loan made under this section
shall be for a period not to exceed ten years, shall bear no
interest, and shall be repayable to the conservation practices
revolving loan fund in equal yearly installments due March 1 of each
year the loan is in effect. The interest rate upon loans for which
payment is delinquent shall accelerate immediately to the current
legal usury limit. Applicants are eligible for no more than ten
thousand dollars in loans outstanding at any time under this program.
"Permanent soil and water conservation practices" has the same
meaning as defined in section 161A.42 and those established under
this program are subject to the requirements of section 161A.7,
subsection 3. Loans made under this program shall come due for
payment upon sale of the land on which those practices are
established.
2. The general assembly finds and declares the following:
a. The erosion of topsoil on agricultural land by wind and
water is a serious problem within the state and one which threatens
to destroy the natural resource most responsible for Iowa's
prosperity.
b. It is necessary to the preservation of the economy and
well-being of the state to encourage soil conservation practices by
providing loans for permanent soil and water conservation practices
on agricultural land within the state.
c. The use of state funds for the conservation practices
revolving loan fund established under subsection 1 is in the public
interest, and the purposes of this section are public purposes and
uses for which public moneys may be borrowed, expended, advanced,
loaned, or granted.
3. The division may:
a. Contract, sue and be sued, and promulgate administrative
rules necessary to carry out the provisions of this section, but the
committee shall not in any manner directly or indirectly pledge the
credit of the state of Iowa.
b. Authorize payment from the conservation practices
revolving loan fund and from fees for costs, commissions, attorney
fees and other reasonable expenses related to and necessary for
making and protecting direct loans under this section, and for the
recovery of moneys loaned or the management of property acquired in
connection with such loans.
4. This section does not negate the provisions of section 161A.48
that an owner or occupant of land in this state shall not be required
to establish any new soil and water conservation practice unless
public cost-sharing funds have been approved and are available for
the land affected. However, the owner of land with respect to which
an administrative order to establish soil and water conservation
practices has been issued under section 161A.47 but not complied with
for lack of public cost-sharing funds, may waive the right to await
availability of such funds and instead apply for a loan under this
section to establish any permanent soil and water conservation
practices necessary to comply with the order. If a landowner does
so, that loan application shall be given reasonable preference by the
state soil conservation committee if there are applications for more
loans under this section than can be made from the money available in
the conservation practices revolving loan fund. If it is found
necessary to deny an application for a soil and water conservation
practices loan to a landowner who has waived the right to
availability of public cost-sharing funds before complying with an
administrative order issued under section 161A.47, the landowner's
waiver is void.
