§ 35-75-102 — Legislative declaration

Colorado § 35-75-102

• Jurisdiction: Colorado
• Title 35: Agriculture
• Art.: Colorado Agricultural Development

Text

(1) The general assembly hereby finds
and declares that:

(a) The high cost and lack of available agricultural loans for farmers and
other agricultural enterprises, with the resultant decrease in crop, livestock, and
business productivity and resultant inability on the part of farmers and other
agricultural enterprises to acquire modern agricultural equipment and processes,
makes it difficult for farmers and other agricultural enterprises to maintain their
present employment levels or to increase employment and lessens the supply of
agricultural commodities available to fulfill the needs of the citizens of this state;

(b) As a result of the continuing increase in the costs of maintaining
operations, including costs of construction and rehabilitation, taxes, heating and
electricity expenses, maintenance and repair expenses, and the cost of land, the
state of Colorado suffers from structural economic weaknesses which contribute to
a decline in capital investment, unemployment, and underemployment; and

(c) The insufficiency of gainful employment in rural areas puts additional
pressure on the state's welfare, public health, and crime prevention programs.

(2) The general assembly further finds that:

(a) Farm credit and agricultural loan financing is not currently available at
interest rates which are consistent with the needs of farmers and other agricultural
enterprises;

(b) The problems set forth in this section cannot alone be remedied through
the operation of private enterprise but can be alleviated through the creation of an
agricultural development authority to encourage the investment of private capital
in the agricultural sector through the use of public financing for the purpose of
making loans available at interest rates lower than those available in the
conventional farm credit markets. Creation of such an agricultural development
authority to coordinate and cooperate with farmers and other agricultural
enterprises is essential to alleviating these conditions.

(c) Alleviating the conditions and problems set forth in this section by the
encouragement of private investment through an agricultural development
authority is a public purpose, and public money provided by the sale of revenue
bonds may be borrowed, expended, advanced, loaned, and granted for such use.
Such activities shall not be conducted for profit and are proper governmental
functions best accomplished by the creation of an agricultural development
authority vested with the powers and duties specified in this article.

(d) This article is enacted to protect the health, safety, and welfare of the
people of this state.

(3) The agricultural development authority created by this article shall make
financing available for farmers and other agricultural enterprises to serve those
people which private industry is unable to serve.

Legislative History

Source: L. 81: Entire article added, p. 1731, � 1, effective June 19.