80-12-103. Agricultural loan authority -- general powers.
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80-12-103 . Agricultural loan authority -- general powers. The authority may:
(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.