§ 1835-F — Loans to lenders funds

§ 1835-f. Loans to lenders funds. 1. The following shall constitute\nloans to lenders funds of the authority and shall be kept separate and\napart from all other funds of the authority: (a) the proceeds of sale of\nloans to lenders bonds and notes hereafter issued, (b) any moneys\nappropriated and made available by the state for the purposes of this\nsubtitle, (c) any moneys made available to the authority for the\npurposes of this subtitle from any other source, including without\nlimitation, any federal agency, (d) any moneys received by the authority\nas principal, interest and other payments on account of loans hereafter\nmade by the authority pursuant to this subtitle, (e) any fees, charges\nor other moneys received by the authority in respect of loans to lenders\nhereinafter made by the authority pursuant to this subtitle or on\naccount of applications therefor, and (f) any income or interest\nhereafter earned by or any increment hereafter added to any loans to\nlenders funds due to the investment thereof.\n 2. Subject to the terms of any agreement with lenders, bondholders and\nnoteholders, loans to lenders funds may be used by the authority solely:\n(a) to make loans to lenders for the purpose of financing loans for\nagricultural business projects in any area of the state, (b) to pay\nexpenses of the authority referred to in any of the clauses of\nsubdivision one of section eighteen hundred twenty-eight of this title,\n(c) to repay advances from the state for use as loans to lenders funds\nin accordance with any provision of law or repayment agreement between\nthe authority and the state, (d) to pay the principal, redemption\npremium or interest on loans to lenders bonds or notes, (e) to purchase\noutstanding loans to lenders bonds and notes or (f) to exercise any of\nthe powers conferred in this subtitle.\n