Montana Code 80-12-204. Evaluation of applicants
80-12-204. Evaluation of applicants. (1) The authority shall by rule establish:
Terms Used In Montana Code 80-12-204
- Authority: means the department of agriculture provided for in 2-15-3001. See Montana Code 80-12-102
- Bonds: means bonds or bond anticipation notes issued by the authority under the provisions of this chapter. See Montana Code 80-12-102
(a)procedures and standards for evaluating applications for loans to be approved by the authority for issuance of bonds; and
(b)a system for evaluating the applicants, considering the following criteria:
(i)the applicant’s net worth;
(ii)the applicant’s access to livestock and machinery;
(iii)the applicant’s training and experience in agriculture;
(iv)the applicant’s prospects for succeeding in an agricultural operation on the land proposed for purchase; and
(v)any other factors it may prescribe.
(2)The authority shall select the best qualified and most deserving applicants from among those applying for approval of loans for issuance of bonds.
(3)The authority may seek the advice of such lenders as the farmers home administration, the production credit association, the federal land bank, private lenders, or similar organizations in Montana and coordinate its program through these organizations.