Agricultural product utilization and business loan guarantee fundestablished.
348.409. 1. There is hereby established in the state treasury the"Agricultural Product Utilization and Business Development Loan GuaranteeFund". The fund shall consist of money appropriated to it by the generalassembly, charges, gifts, grants, bequests from federal, private or othersources, and investment income on the fund. Notwithstanding the provisionsof section 33.080, RSMo, no portion of the fund shall be transferred to thegeneral revenue fund.
2. All moneys received by the authority for payments made onpreviously defaulted guaranteed loans shall be paid promptly into the statetreasury and deposited in the fund.
3. The fund shall be administered by the authority.
4. Beginning with fiscal year 1997-98, the general assembly mayappropriate moneys not to exceed two and one-half million dollars for theestablishment and initial funding of the fund.
5. Moneys in the fund, both unobligated and obligated as a reserve,which in the judgment of the authority are not currently needed forpayments of defaults of guaranteed loans, may be invested by the statetreasurer, and any income therefrom shall be deposited to the credit of thefund.
Agricultural product utilization and business loan guarantee fundestablished.
348.409. 1. There is hereby established in the state treasury the"Agricultural Product Utilization and Business Development Loan GuaranteeFund". The fund shall consist of money appropriated to it by the generalassembly, charges, gifts, grants, bequests from federal, private or othersources, and investment income on the fund. Notwithstanding the provisionsof section 33.080, RSMo, no portion of the fund shall be transferred to thegeneral revenue fund.
2. All moneys received by the authority for payments made onpreviously defaulted guaranteed loans shall be paid promptly into the statetreasury and deposited in the fund.
3. The fund shall be administered by the authority.
4. Beginning with fiscal year 1997-98, the general assembly mayappropriate moneys not to exceed two and one-half million dollars for theestablishment and initial funding of the fund.
5. Moneys in the fund, both unobligated and obligated as a reserve,which in the judgment of the authority are not currently needed forpayments of defaults of guaranteed loans, may be invested by the statetreasurer, and any income therefrom shall be deposited to the credit of thefund.
Agricultural product utilization and business loan guarantee fundestablished.
348.409. 1. There is hereby established in the state treasury the"Agricultural Product Utilization and Business Development Loan GuaranteeFund". The fund shall consist of money appropriated to it by the generalassembly, charges, gifts, grants, bequests from federal, private or othersources, and investment income on the fund. Notwithstanding the provisionsof section 33.080, RSMo, no portion of the fund shall be transferred to thegeneral revenue fund.
2. All moneys received by the authority for payments made onpreviously defaulted guaranteed loans shall be paid promptly into the statetreasury and deposited in the fund.
3. The fund shall be administered by the authority.
4. Beginning with fiscal year 1997-98, the general assembly mayappropriate moneys not to exceed two and one-half million dollars for theestablishment and initial funding of the fund.
5. Moneys in the fund, both unobligated and obligated as a reserve,which in the judgment of the authority are not currently needed forpayments of defaults of guaranteed loans, may be invested by the statetreasurer, and any income therefrom shall be deposited to the credit of thefund.
