Part 1.
TEXAS DEPARTMENT OF AGRICULTURE
Chapter 24.
TEXAS AGRICULTURAL FINANCE AUTHORITY: FARM AND RANCH FINANCE PROGRAM
4 TAC §24.11
The Board of Directors (the Board) of the Texas Agricultural
Finance Authority (the Authority) of the Texas Department of Agriculture proposes
an amendment to §24.11, concerning the Authority's Farm and Ranch Finance
Program. The amendment is proposed to correct information regarding where
copies of the Authority's credit policy may be obtained.
Robert Wood, assistant commissioner for rural economic development, has
determined that for the first five year period that the amended section is
in effect there will be no anticipated fiscal implications to state or local
government as a result of enforcing or administering the proposal.
Mr. Wood has also determined that for each year of the first five years
the amended section is in effect, the public benefit anticipated as a result
of enforcing the amended section will be to provide correct information to
interested persons wishing to review the Authority's credit policy. There
is no anticipated effect on microbusinesses or small businesses. There will
be no anticipated economic costs to persons required to comply with the proposal.
Comments on the proposal may be submitted to Robert Wood, Assistant Commissioner
for Rural Economic Development, Texas Department of Agriculture, P.O. Box
12847, Austin, Texas 78711. Comments must be received no later than 30 days
from the date of publication of the proposal in the
Texas Register
.
The amendment to §24.11 is proposed under the Texas Agriculture
Code (the Code), §59.022, which provides the Authority's Board with the
authority to adopt rules it considers necessary to administer the Farm and
Ranch Finance Program.
The Texas Agriculture Code, Chapter 59 is affected by the proposed amendment.
§24.11.Criteria for Approval of a Loan.
(a) - (b)
(No change.)
(c)
The Authority has adopted a Credit Policy and Procedures
document which contains additional criteria and guidelines used by the Authority
in the loan review and approval process. The Credit Policy and Procedure document
is adopted by reference herein. Copies may be obtained from the
Texas
Agricultural
Finance
Authority
[
This agency hereby certifies that the proposal has been reviewed
by legal counsel and found to be within the agency's legal authority to adopt.
Filed with the Office of
the Secretary of State on June 3, 2005.
TRD-200502236
Dolores Alvarado Hibbs
Deputy General Counsel
Texas Department of Agriculture
Earliest possible date of adoption: July 17, 2005
For further information, please call: (512) 463-4075
The Board of Directors (Board) of the Texas Agricultural Finance Authority
(the Authority) of the Texas Department of Agriculture proposes amendments
to Chapter 25, Subchapter A (Subchapter A), §25.3 and §§25.7
- 25.11, concerning the Authority's Rural Development Finance Program, and
the repeal of Chapter 25, Subchapter B (Subchapter B), §§25.20 -
25.34, concerning the Authority's Private Activity Bond Financing Program.
The amendments to Subchapter A are proposed to clarify eligibility requirements
and requirements for the use of the program and to make the program more efficient.
The amendments are also made to make Subchapter A consistent with the current
operation of the program as a rural municipal finance program which provides
financial assistance to city and county governments; economic development
corporations; hospital districts; rail districts; utility districts; special
districts; agricultural districts; and private water and wastewater corporations
in rural areas to improve or assist in the economic development of the rural
area.
The amendments to §25.3 change the definition of "Applicant" to delete
references to business entities, change the definition of "Committment" to
make that definition consistent with the current operation of the program,
and delete the definition of "Guarantied loan amount". Section 25.7 is amended
to delete paragraph (a)(6), which relates to applicants that are business
entities. Section 25.8 is amended to delete language relating to the timeframe
to close a commitment. Sections 25.9 and 25.10 are amended to delete language
that relates to business entities, making the section consistent with the
current operation of the program. Section 25.11 is amended to correct the
information regarding where copies of the Authority's credit policy may be
obtained.
The repeal of all sections in Subchapter B is proposed to delete unnecessary
sections. The Authority's Private Activity Bond Financing Program is no longer
in operation and the rules for this program are no longer needed.
Robert Wood, assistant commissioner for rural economic development, has
determined that for the first five year period that the amended sections and
the repeal of Subchapter B are in effect there will be no anticipated fiscal
implications to state or local government as a result of enforcing or administering
the proposal.
Mr. Wood has also determined that for each year of the first five years
the amended sections and the repeal are in effect, the public benefit anticipated
as a result of enforcing the amended sections will be to provide a more efficient
program to further create an economic benefit to rural areas of the state
and to generate a greater number of eligible applicants for the Authority's
Rural Development Finance Program. The public benefit anticipated as a result
of enforcing the repeal of Subchapter B will be the elimination of unnecessary
rules. There is no anticipated effect on microbusinesses or small businesses.
There will be no anticipated economic costs to persons required to comply
with the proposal.
Comments on the proposal may be submitted to Robert Wood, Assistant Commissioner
for Rural Economic Development, Texas Department of Agriculture, P.O. Box
12847, Austin, Texas 78711. Comments must be received no later than 30 days
from the date of publication of the proposal in the
Texas Register
.
Subchapter A. RURAL DEVELOPMENT FINANCE PROGRAM
4 TAC §§25.3, 25.7 - 25.11
The amendments to §25.3 and §§25.7 - 25.11
are proposed under the Texas Agriculture Code (the Code) §58.022, which
provides the Authority's Board with the authority to adopt rules and procedures
necessary for the administration of its programs including the setting and
collection of fees in connection with the program; and, the Code §58.023,
which provides the Authority's Board with the authority to adopt rules to
establish criteria for eligibility of applicants under the Authority's financial
assistance programs
The Texas Agriculture Code, Chapter 58 is affected by the proposed amendments.
§25.3.Definitions.
The following words and terms, when used in this chapter, shall have
the following meanings, unless the context clearly indicates otherwise.
(1)
(No change.)
(2)
Applicant--Any rural [
(3) - (7)
(No change.)
(8)
Commitment--Any form of financial assistance provided to
an applicant as approved by the board, including [
(9) - (11)
(No change.)
[
(12)
[
(13)
[
(14)
[
(15)
[
(16)
[
(17)
[
(18)
[
§25.7.Project Eligibility Requirements.
(a)
Projects. An applicant is eligible for a commitment from
the Authority if the proposed project meets the following criteria:
(1) - (3)
(No change.)
(4)
the applicant is a legal entity under the laws of the United
States of America and the State of Texas;
and
(5)
the applicant has a principal place of business in the
state
.
[
[
(b) - (c)
(No change.)
§25.8.Filing Requirements and Consideration of Applications.
(a) - (d)
(No change.)
(e)
Notification of approval. Upon conditional approval of
the qualified application by the board, the Authority will notify the applicant
in writing identifying the terms and conditions of the commitment provided.
The applicant must accept the conditions of the board within 30 days [
(f) - (i)
(No change.)
§25.9.Contents of Qualified Application.
(a)
Required information. The qualified application must set
forth the information necessary for the determination of eligibility and will
include the following, if applicable:
(1)
(No change.)
(2)
names, addresses, resumes, and references of owners, principal
investors, board members, and/or management[
(3)
articles of incorporation and bylaws, a certificate of
good standing with the secretary of state, or other instruments that establish
or describe the legal operation or structure of the applicant
and the
legal authority under which the financing is being requested
[
(4)
a [
(A)
information describing the products, services, or public
works to be offered;
(B)
a statement of how such products or services will help
to expand, develop, or diversify the rural economy of the state;
and
(C)
an estimate of the number of jobs created or retained by
the project
.
[
[
(5)
three years of
audited financial reports
[
[
(6)
[
[
(7)
[
(8)
[
(9)
[
[
[
(10)
[
[
(b)
(No change.)
§25.10.General Terms and Conditions of the Authority's Committment.
(a) - (h)
(No change.)
(i)
Reporting requirements for a commitment provided by the
Authority. The applicant shall provide to the Authority [
§25.11.Criteria for Approval of a Committment.
(a) - (b)
(No change.)
(c)
The Authority has adopted a Credit Policy and Procedures
document which contains additional criteria and guidelines used by the Authority
in the review and application approval process. The Credit Policy and Procedure
document is adopted by reference herein. Copies may be obtained from
the Texas Agricultural
Finance
Authority
[
This agency hereby certifies that the proposal has been reviewed
by legal counsel and found to be within the agency's legal authority to adopt.
Filed with the Office of
the Secretary of State on June 3, 2005.
TRD-200502237
Dolores Alvarado Hibbs
Deputy General Counsel
Texas Department of Agriculture
Earliest possible date of adoption: July 17, 2005
For further information, please call: (512) 463-4075
4 TAC §§25.20 - 25.34
(Editor's note: The text of the following sections proposed for
repeal will not be published. The sections may be examined in the offices
of the Texas Department of Agriculture or in the Texas Register office, Room
245, James Earl Rudder Building, 1019 Brazos Street, Austin.)
The repeal of §§25.20 - 25.34 is proposed
under the Texas Agriculture Code (the Code), §58.022, which provides
the Authority's Board with the authority to adopt rules and procedures necessary
for the administration of its programs including the setting and collection
of fees in connection with the program; and, the Code §58.023, which
provides the Authority's Board with the authority to adopt rules to establish
criteria for eligibility of applicant and lenders under the Authority's financial
assistance programs.
The Texas Agriculture Code, Chapter 58 is affected by the proposed repeals.
§25.20.Authority.
§25.21.Purpose.
§25.22.Definitions.
§25.23.Examination of Records.
§25.24.Written Communication with the Authority.
§25.25.Project Eligibility Requirements.
§25.26.Filing Requirements and Consideration of Applications.
§25.27.Inducement Resolution.
§25.28.Policies.
§25.29.Final Approvals.
§25.30.Fees.
§25.31.Closing the Bonds.
§25.32.Alternative Financing Options.
§25.33.Administration.
§25.34.Waivers.
This agency hereby certifies that the proposal has been
reviewed by legal counsel and found to be within the agency's legal authority
to adopt.
Filed
with the Office of the Secretary of State on June 3, 2005.
TRD-200502238
Dolores Alvarado Hibbs
Deputy General Counsel
Texas Department of Agriculture
Earliest possible date of adoption: July 17, 2005
For further information, please call: (512) 463-4075
4 TAC §26.12
The Board of Directors (the Board) of the Texas Agricultural
Finance Authority (the Authority) of the Texas Department of Agriculture proposes
an amendment to §26.12, concerning the Authority's Linked Deposit Program.
The amendment is proposed to correct information regarding where copies of
the Authority's credit policy may be obtained.
Robert Wood, assistant commissioner for rural economic development, has
determined that for the first five year period that the amended section is
in effect there will be no anticipated fiscal implications to state or local
government as a result of enforcing or administering the proposal.
Mr. Wood has also determined that for each year of the first five years
the amended section is in effect, the public benefit anticipated as a result
of enforcing the amended section will be to provide correct information to
interested persons wishing to review the Authority's credit policy. There
is no anticipated effect on microbusinesses or small businesses. There will
be no anticipated economic costs to persons required to comply with the proposal.
Comments on the proposal may be submitted to Robert Wood, Assistant Commissioner
for Rural Economic Development, Texas Department of Agriculture, P.O. Box
12847, Austin, Texas 78711. Comments must be received no later than 30 days
from the date of publication of the proposal in the
Texas Register
.
The amendment to §26.12 is proposed under the Texas Agriculture
Code (the Code), §44.007, which provides the Authority's Board with the
authority to adopt rules for the loan portion of the Linked Deposit Program;
and the Code, §58.022, which provides the Authority's Board with authority
to adopt rules and procedures necessary for the administration of its programs,
including the Linked Deposit Program.
The Texas Agriculture Code, Chapters 44 and 58 are affected by the proposed
amendments.
§26.12.Communications with the Authority.
All communications about the program should be directed to the Texas
Agricultural Finance Authority, Linked Deposit Program, Texas Department of
Agriculture, P.O. Box 12847, Austin, Texas 78711[
This agency hereby certifies that the proposal has been reviewed
by legal counsel and found to be within the agency's legal authority to adopt.
Filed with the Office of
the Secretary of State on June 3, 2005.
TRD-200502239
Dolores Alvarado Hibbs
Deputy General Counsel
Texas Department of Agriculture
Earliest possible date of adoption: July 17, 2005
For further information, please call: (512) 463-4075
The Board of Directors (the Board) of the Texas Agricultural Finance
Authority (the Authority) of the Texas Department of Agriculture proposes
amendments to §28.2 and §§28.7 - 28.11, §28.15, and the
repeal of §28.16, concerning the Authority's Financial Assistance Program.
The amendments are proposed to clarify eligibility requirements and requirements
for the use of loan proceeds and to make the program more efficient. More
specifically, the amendments are proposed to delete language relating to new
loans, and modify the sections that relate to renewals to make the sections
consistent with the current operation of the financial assistance program.
Under the existing program, no new loans will be made, the extension of credit
is limited to renewals or extensions of existing loans. The repeal of §28.16,
relating to criteria for a direct loan is proposed to delete unnecessary language.
Direct loans are no longer being offered under the program.
Section 28.2 is amended to make this section consistent with current law.
Section 28.7 is amended to make the section consistent with the current operation
of the financial assistance program. Section 28.8 is amended to clarify that
only applications for renewal of existing loans are being accepted under the
program. At subsection 28.8(d), an amendment is made to make this subsection
consistent with current law relating to approval of an application by the
board. Section 28.9 is amended to provide that program staff has the sole
discretion to determine what documents are acceptable to show information
required of an applicant. Section 28.10 is amended to clarify that financial
assistance is limited to a renewal of an existing obligation and to the amount
of or participation in an existing obligation. Section 28.11 is amended to
correct the information relating to where copies of the Authority's Credit
Policy and Procedure may be obtained. Section 28.15 is amended to make this
subsection consistent with current law relating to approval of an application
by the board.
Robert Wood, assistant commissioner for rural economic development, has
determined that for the first five year period that the amended sections are
in effect there will be no anticipated fiscal implications to state or local
government as a result of enforcing or administering the proposal.
Mr. Wood has also determined that for each year of the first five years
the amended sections are in effect, the public benefit anticipated as a result
of administering and enforcing the amended sections will be to provide a more
efficient program to further create an economic benefit to rural areas of
the state. There is no anticipated effect on microbusinesses or small businesses,
except that eligible entities that are granted financial assistance under
the Authority's Financial Assistance Program will benefit from that assistance.
There will be no anticipated economic costs to persons required to comply
with the proposal.
Comments on the proposal may be submitted to Robert Wood, Assistant Commissioner
for Rural Economic Development, Texas Department of Agriculture, P. O. Box
12847, Austin, Texas 78711. Comments must be received no later than 30 days
from the date of publication of the proposal in the
Texas Register
.
4 TAC §§28.2, 28.7 - 28.11, 28.15
The amendments to §28.2, §§28.7 - 28.11 and §28.15
are proposed under the Texas Agriculture Code (the Code), §58.022, which
provides the Authority's Board with authority to adopt rules and procedures
necessary for the administration of its programs.
The Texas Agriculture Code, Chapter 58 is affected by the proposal.
§28.2.Purpose.
The purpose of the Texas Agricultural Finance Authority (the Authority)
is to provide financial assistance to eligible agricultural businesses and
to other [
§28.7.Project Eligibility Requirements.
(a)
Projects. An applicant is eligible for assistance from
the Authority if the proposed project meets the following criteria:
(1)
the applicant currently has a project financed with
the Authority's assistance
[
(2)
the board determines that it is in the best interest
of the program to renew the existing obligation
[
(3)
the requested assistance amount is not more than
the existing obligation, and will be used to renew or extend the existing
obligation.
[
[(4)
the applicant must be a legal entity
under the laws of the United States of America;]
[(5)
the applicant has its principal place
of business in the state;]
[(6)
the applicant's principal owner or owners
provide personal guarantees for the loan satisfactory to the Authority;]
[(7)
for the Loan Guaranty Program, the lender
submits a preliminary letter of commitment to make the loan based on a partial
guaranty from the Authority;]
[(8)
for the Direct Loan Program, the lender
and borrower submit a preliminary letter of commitment that the lender will
service the loan based upon the approval of a direct loan by the Authority.]
(b) - (c)
(No change.)
§28.8.Filing Requirements and Consideration of Applications.
(a)
Application forms. An applicant or lender seeking a
renewal of an existing
loan guaranty from the Authority may use the
application forms provided by the Authority.
(b)
Submission of a qualified application. Applicants are
required to obtain a commitment from a lender to participate in [
(c)
(No change.)
(d)
Board review. Staff will submit a report on each qualified
application to the board, provided that the board has directed staff to present
only those applications which meet those minimum underwriting standards established
in the Credit Policy and Procedures, which shall include a recommendation
for approval or denial. If staff determines that an application does not meet
the minimum underwriting standards established in the Credit Policy and Procedures,
then staff shall notify the applicant and the lender in writing to this effect,
and shall advise them of which minimum underwriting standards are not met.
If staff determines during the underwriting process, that the minimum standards
not met are mitigated by other factors in the application, then staff can
present the application to the board identifying the waivers to the Credit
Policy and Procedures and the mitigating factors. If staff cannot determine
mitigating factors for the waivers, then staff will notify the applicant and/or
the lender that they may appeal the determination of the staff to the board,
but shall have the burden of convincing the board that the minimum standards
not met should be waived. The board may, in its discretion, recommend the
imposition of conditions and requirements in connection with approval of a
qualified application. Approval of a qualified application will be by a majority
of [
(e)
Notification of approval. Upon conditional approval of
the qualified application by the board, the Authority will notify the lender
and the applicant in writing identifying the terms and conditions of the financial
assistance provided. The board may set certain time limits regarding the acceptance
of loan commitments by the applicant and lender and time limits regarding
the closing of loans by the applicant and lender
.
[
(f) - (i)
(No change.)
§28.9.Contents of Qualified Application.
(a)
Required information. The qualified application must set
forth the information necessary for the determination of eligibility and will
include the following, if applicable
(staff may determine that documents
already in the Authority's files may suffice for any of the following)
:
(1)
applicant's name, address and telephone numbers;
(2)
names, addresses, resumes, and references of owners, principal
investors, board members, and management, including percentage of ownership
of the business;
(3)
articles of incorporation and bylaws, a certificate of
good standing with the secretary of state, or other instruments that establish
or describe the legal operation or structure of the business;
(4)
a business plan which includes the following:
(A)
information describing the products or services to be
offered; and
(B)
how such products or services will help to expand, develop,
or diversify Texas agriculture or the rural economy of the state;
(C)
an estimate of the number of jobs created or retained
by the project; and
(D)
a statement of what percentage of Texas products and suppliers
will be used by the project:
(5)
letters of commitment from other funding sources;
(6)
if available, three years of historical balance sheets,
cash flow statements, income statements, and federal tax returns;
(7)
a pro forma balance sheet which incorporates the new financing,
to be provided by the applicant and/or the lender;
(8)
pro forma cash flows, income statements, and balance sheets
for at least three years, including the underlying assumptions used, to be
provided by the applicant and/or the lender;
(9)
a statement of the interest rate used in the pro forma
statements;
(10)
a statement of any licensing requirements;
(11)
a statement that addresses the effect of the business
on the tax base of the area and any other positive and negative effects of
the project on the area;
(12)
assurance of compliance with local zoning laws and building
codes, and that the necessary public utilities are available or will be available
when needed by the project;
(13)
for construction projects, the approximate date construction
will commence, completion date, and date by which the project will be fully
operational; including copies of cost estimates for construction;
(14)
documentation that the preliminary design stage has been
completed;
(15)
disclosure of any and all business and familial affiliations
of the applicant, or its owners, principal investors, board members, and management
with members of the board, employees of the department, staff, and/or the
lender which could present a conflict of interest; and
(16)
personal history questionnaire and acknowledgment form
for all guarantors and/or owners with more than 20% ownership.
(b)
(No change.)
§28.10.General Terms and Conditions of the Authority's Financial Assistance.
(a)
Permissible use of financial assistance. The Authority's
financial assistance is to be used to finance the project identified on the
qualified application
and must be a renewal of an existing obligation
involving the Authority
.
[(b)
Minimum amount of financial assistance.
The Authority shall not provide financial assistance to an applicant where
the guarantied amount of the loan is less than $30,000.]
(b)
[
(c)
[
(d)
[
(e)
[
(f)
[
(g)
[
(h)
[
(i)
[
(1)
The lender shall report in writing to the Authority as
follows:
(A)
notification if the loan is placed on a watch list;
(B)
quarterly monitoring reports indicating loan balance, repayment
status, and any credit changes reported to lender as indicated on the prescribed
form; and
(C)
notification in the event of any breaches or defaults in
the terms, conditions, or covenants of the note, loan agreement, or other
loan documents.
(2)
The applicant shall provide annual financial statements
including a balance sheet, income statement and cash flow statement; payment
receipts of personal property taxes; and a statement of the annual employment
of the applicant's business to the lender. Annual financial statements should
be audited but, if not, they must be signed by the owner of the project. Annual
employment shall be expressed in terms of annual full-time equivalent positions.
The lender shall submit these reports to the Authority. If necessary, the
Authority may request other reports or documentation reasonably necessary
for an assessment of the applicant's compliance with the program.
§28.11.Criteria for Approval of Financial Assistance.
(a) - (c)
(No change.)
(d)
The Authority has adopted a Credit Policy and Procedures
document which contains additional criteria and guidelines used by the Authority
in the loan guaranty review and approval process. The Credit Policy and Procedure
document is adopted by reference herein. Copies may be obtained from the
Texas Agricultural
Finance
Authority
[
§28.15.Criteria for Approval of a Participation Purchased.
(a)
Eligibility requirements. The Authority may purchase an
undivided interest in a loan made by a lender provided that:
(1) - (2)
(No change.)
(3)
the undivided interest purchased by the Authority does
not exceed the maximum amount as stated in §
28.10(b)
[
(4)
(No change.)
(b) - (e)
(No change.)
(f)
Board review. Staff will submit a report on each participation
to be purchased to the board, which shall include a recommendation for approval
or denial. If staff determines that a participation does not meet the minimum
underwriting standards established in the Credit Policy and Procedures, then
staff shall notify the lender in writing to this effect, and shall advise
the lender of which minimum underwriting standards are not met. The lender
may resubmit the participation application for further consideration at such
time as the minimum standards are met. Approval of a participation will be
by a majority of [
This agency hereby certifies that the proposal has been reviewed
by legal counsel and found to be within the agency's legal authority to adopt.
Filed with the Office of
the Secretary of State on June 3, 2005.
TRD-200502240
Dolores Alvarado Hibbs
Deputy General Counsel
Texas Department of Agriculture
Earliest possible date of adoption: July 17, 2005
For further information, please call: (512) 463-4075
4 TAC §28.16
(Editor's note: The text of the following section proposed for
repeal will not be published. The section may be examined in the offices of
the Texas Department of Agriculture or in the Texas Register office, Room
245, James Earl Rudder Building, 1019 Brazos Street, Austin.)
The repeal of §28.16 is proposed under the Texas
Agriculture Code (the Code), §58.022, which provides the Authority's
Board with authority to adopt rules and procedures necessary for the administration
of its programs.
The Texas Agriculture Code, Chapter 58 is affected by the proposal.
§28.16.Criteria for a Direct Loan.
This agency hereby certifies that the proposal has been
reviewed by legal counsel and found to be within the agency's legal authority
to adopt.
Filed
with the Office of the Secretary of State on June 3, 2005.
TRD-200502241
Dolores Alvarado Hibbs
Deputy General Counsel
Texas Department of Agriculture
Earliest possible date of adoption: July 17, 2005
For further information, please call: (512) 463-4075
Subchapter A. GENERAL PROCEDURES
4 TAC §30.12
The Board of Directors (the Board) of the Texas Agricultural
Finance Authority (the Authority) of the Texas Department of Agriculture proposes
an amendment to §30.12, concerning the Authority's Young Farmer Loan
Guarantee Program. The amendment is proposed to correct information regarding
where copies of the Authority's credit policy may be obtained.
Robert Wood, Assistant Commissioner for Rural Economic Development, has
determined that for the first five year period that the amended section is
in effect there will be no anticipated fiscal implications to state or local
government as a result of enforcing or administering the proposal.
Mr. Wood has also determined that for each year of the first five years
the amended section is in effect, the public benefit anticipated as a result
of enforcing the amended section will be to provide correct information to
interested persons wishing to review the Authority's credit policy. There
is no anticipated effect on micro businesses or small businesses. There will
be no anticipated economic costs to persons required to comply with the proposal.
Comments on the proposal may be submitted to Robert Wood, Assistant Commissioner
for Rural Economic Development, Texas Department of Agriculture, P.O. Box
12847, Austin, Texas 78711. Comments must be received no later than 30 days
from the date of publication of the proposal in the
Texas Register
.
The amendment to §30.12 is proposed under the Texas Agriculture
Code, §58.022, which provides the Authority's Board with the authority
to adopt rules and procedures necessary for the administration of its programs,
including the Young Farmer Loan Guarantee Program.
The Texas Agriculture Code, Chapter 58 is affected by the proposed amendment.
§30.12.Criteria for Approval of a Loan Guarantee.
(a) - (b)
(No change.)
(c)
The Authority has adopted a Credit Policy and Procedures
document which contains additional criteria and guidelines used by the Authority
in the loan guarantee review and approval process. The Credit Policy and Procedure
document is adopted by reference herein. Copies may be obtained from the
Texas Agricultural
Finance
Authority
[
This agency hereby certifies that the proposal has been reviewed
by legal counsel and found to be within the agency's legal authority to adopt.
Filed with the Office of
the Secretary of State on June 3, 2005.
TRD-200502242
Dolores Alvarado Hibbs
Deputy General Counsel
Texas Department of Agriculture
Earliest possible date of adoption: July 17, 2005
For further information, please call: (512) 463-4075
Chapter 41.
FEVER TICKS
4 TAC §§41.1, 41.8, 41.9
The Texas Animal Health Commission proposes to amend Chapter
41, which is entitled "Fever Ticks". The proposed amendments to Chapter 41
include: (1) an amendment to §41.1, "Definition of Terms", to define
treatment methods for control of fever ticks on free ranging wildlife and
exotics. This proposal will provide a mechanism to ensure that deer, and other
wildlife capable of carrying fever ticks, are treated for fever ticks when
present in an infested pasture or when a pasture is vacated; (2) an amendment
to §41.8, "Dipping and treatment of livestock", to require treatment
of free ranging wildlife and exotics for control of fever ticks utilizing
treatment methods approved by the commission. Native deer and some exotic
species are known to be hosts for the
Boophilus tick
and natural movement of these animals from a quarantine area or quarantined
premises to clean areas could promote and propagate the spread of these ticks.
In order to ensure that deer or exotics do not spread the tick into a clean
pasture or area this amendment will provide the authority to require and specify
the mechanism for treatment, should treatment of free ranging wildlife or
exotics be necessary to eliminate fever ticks from an area or premises; (3)
The Commission is also adding language to §41.9, "Vacation and Inspection
of a Premise," regarding the release of restrictions on infested premises
that are vacated. The proposed amendments to this section clarify the starting
date for the vacation period, reclassify vacated premises to check premises
at the end of the vacation period, specify when the check premises restrictions
will be released and provide requirements for treatment of free ranging wildlife
and exotics on vacated premises. The proposed amendments to this section are
necessary for the following reasons: (a) recent empirical data and field trial
results indicate that fever ticks can survive longer on vacated pastures (pastures
on which there are no known hosts for fever ticks) than previously thought;
and (b) Deer and some exotics may continue to serve as hosts for ticks in
vacated pastures.
FISCAL NOTE
Mr. Mike Jensen, Assistant Executive Director of Administration, Texas
Animal Health Commission, has determined for the first five-year period the
rules are in effect, there will be no additional fiscal implications for state
or local government as a result of enforcing or administering the rules. The
commission does not believe the requirements create an adverse impact on a
small businesses or micro-businesses because the prohibition is limited to
areas where there is exposure to ticks.
PUBLIC BENEFIT NOTE
Mr. Jensen also has determined that for each year of the first five years
the rules are in effect, the public benefit anticipated as a result of enforcing
the rules will ensure, that if needed, deer and other animals capable of hosting
the ticks are treated in order to eradicate the pest in an area or premise
exposed to ticks, therefore there may be effects to individuals required to
comply with the rules as proposed.
LOCAL EMPLOYMENT IMPACT STATEMENT
In accordance with Government Code, §2001.022, this agency has determined
that the adopted rule will not impact local economies.
TAKINGS ASSESSMENT
The agency has determined that the proposed governmental action will not
affect private real property. These proposed rules are an activity related
to the handling of animals, including requirements concerning testing, movement,
inspection, identification, reporting of disease, and treatment, in accordance
with 4 TAC §59.7, and are, therefore, compliant with the Private Real
Property Preservation Act in Government Code, Chapter 2007. Furthermore this
activity, in part, involves the movement of animals considered to be property
of the state and not private property.
REQUEST FOR COMMENT
Comments regarding the proposed amendments may be submitted to Dolores
Holubec, Texas Animal Health Commission, 2105 Kramer Lane, Austin, Texas 78758,
by fax at (512) 719-0721 or by e-mail at comments@tahc.state.tx.us.
STATUTORY AUTHORITY
The amendments are proposed under the Texas Agriculture Code, Chapter 167, §167.003,
which provides for general powers and duties of the commission to eradicate
fever ticks and provides authority for adopting the necessary rules to fulfill
those duties. Section 167.004 authorizes the commission, by rule, to define
which animals can be classified as exposed to ticks. Section 167.006 authorizes
the commission to designate for tick eradication any county or part of a county
that the Commission believes contains ticks. Section 167.007 authorizes the
Commission to conduct tick eradication in the free area. Section 167.021,
entitled "General Quarantine Power" provides that "the commission may establish
quarantines on land, premises, and livestock as necessary for tick eradication."
Section 167.022, entitled "Quarantine of Tick Eradication Area" provides the
commission authority to designate a county or part of a county for tick eradication.
Section 167.023, entitled "Quarantine of Free Area" provides the commission
authority to establish quarantines in the Free Area. Section 167.024, entitled
"Movement In or From Quarantined Area" provides the requirement to get appropriate
authorization and compliance with the requirements prior to movement. Section
167.032 provides the commission may restrict movement of commodities which
are capable of carrying ticks.
The Commission is vested by statute, §161.041(a), with the requirement
to protect all livestock, domestic animals, and domestic fowl from disease.
The Commission is authorized, by §161.041(b), to act to eradicate or
control any disease or agent of transmission for any disease that affects
livestock. If the Commission determines that a disease listed in §161.041
of this code or an agent of transmission of one of those diseases exists in
a place in this state among livestock, or that livestock are exposed to one
of those diseases or an agent of transmission of one of those diseases, the
Commission shall establish a quarantine on the affected animals or on the
affected place. That is found in §161.061. As a control measure, the
Commission by rule may regulate the movement of animals. The Commission may
restrict the intrastate movement of animals even though the movement of the
animals is unrestricted in interstate or international commerce. The Commission
may require testing, vaccination, or another epidemiologically sound procedure
before or after animals are moved. That is found in §161.054. That authority
is found in §161.048. A person is presumed to control the animal if the
person is the owner or lessee of the pen, pasture, or other place in which
the animal is located and has control of that place; or exercises care or
control over the animal. That is under §161.002.
Section 161.007 provides that if a veterinarian employed by the Commission
determines that a communicable disease exists among livestock, domestic animals,
or domestic fowl or on certain premises or that livestock, domestic animals,
or domestic fowl have been exposed to the agency of transmission of a communicable
disease, the exposure or infection is considered to continue until the Commission
determines that the exposure or infection has been eradicated through methods
prescribed by rule of the commission. Section 161.005 provides that the commission
may authorize the executive director or another employee to sign written instruments
on behalf of the commission. A written instrument, including a quarantine
or written notice, signed under that authority has the same force and effect
as if signed by the entire Commission.
No other statutes, articles or codes are affected by the proposed amendments.
§41.1.Definition of Terms.
The following words and terms, when used in this chapter, shall have
the following meanings, unless the context clearly indicates otherwise.
(1) - (4)
(No change.)
(5)
Dipping or treating--If the Commission requires livestock
to be dipped, the livestock shall be submerged in a vat. A spray-dip machine
may be used in areas where a vat is not reasonably available. Careful hand
spraying may be used for easily restrained horses and show cattle, and when
specifically authorized, certain zoo or domestic animals. Livestock unable
to go through a dipping vat because of size or physical condition may be hand
sprayed. The treatment must be paint marked so that it can be identified for
at least 17 days.
If the Commission determines that free-ranging wildlife
and exotic animals, which are capable of hosting fever ticks, require treatment,
they shall be treated by methods and for the duration of time approved by
the Commission.
(6) - (20)
(No change.)
(21)
Tick--Any tick capable of transmitting bovine
Babesiosis
[
(22)
(No change.)
§41.8.Dipping and treatment of livestock.
(a)
Dipping
and treatment
of livestock; general.
All dipping prescribed in this section must be done under the supervision
of a representative authorized by the commission. The commission will authorize
for use in dipping only those dips that have been approved by the Animal and
Plant Health Inspection Service of the United States Department of Agriculture
and the Texas Animal Health Commission for use in official dipping to rid
animals of the tick. The concentration of the dipping chemical used must be
maintained in the percentage specified for official use by means of the approved
vat management techniques established for the use of the agent; or, if applicable,
by an officially approved vat side test or field test of the commission. The
owner or caretaker of the livestock is responsible for presenting the livestock
to the dipping vat, dipping the livestock, and removing the livestock, and
will provide such labor as is necessary to perform all required functions.
If the Commission requires livestock to be dipped, the livestock shall be
submerged in a vat. A spray-dip machine may be used in areas where a vat is
not reasonably available. Careful hand spraying may be used for easily restrained
horses and show cattle, and when specifically authorized, certain zoo or domestic
animals. Livestock unable to go through a dipping vat because of size or physical
condition may be hand sprayed. The treatment must be paint marked so that
it can be identified for at least 17 days.
The Commission may specifically
authorize other treatment methods for free-ranging wildlife or exotic species.
(b)
Required Dipping
or treatment
of Livestock.
(1) - (6)
(No change.)
(7)
Free-ranging wildlife or exotics
that are found on infested, exposed or vacated premises, and which are capable
of hosting fever ticks will be treated by methods approved by the Commission
and for the length of time specified by the Commission.
§41.9.Vacation and Inspection of a Premise.
(a)
Vacation of premise. Upon the removal of all livestock
from a premise, the premise remains classified as before for the period shown
on Table I (Pasture Vacation Schedule, South of Highway 90) or Table II (Pasture
Vacation Schedule, North of Highway 90), whichever is applicable. The starting
date is the date
of the first clean dipping during which
[
(b) - (c)
(No change.)
(d)
Free-ranging wildlife and exotic
animals that are found on vacated pastures or check premises and which are
capable of hosting fever ticks shall be treated by methods approved by the
Commission and for the length of time specified by the Commission.
This agency hereby certifies that the proposal has been reviewed
by legal counsel and found to be within the agency's legal authority to adopt.
Filed with the Office of
the Secretary of State on June 6, 2005.
TRD-200502261
Gene Snelson
General Counsel
Texas Animal Health Commission
Earliest possible date of adoption: July 17, 2005
For further information, please call: (512) 719-0700
4 TAC §51.8
The Texas Animal Health Commission (commission) proposes
amendments to Chapter 51, §51.8, regarding Cattle. The amendment is in
regards to entry requirements for cattle for tuberculosis.
The commission recently adopted a new §51.8(b)(3) to require that
all sexually intact dairy cattle originating from a tuberculosis free state,
or area, that are 6 months of age or older need to be officially identified,
and are accompanied by a certificate stating they were negative to an official
tuberculosis test conducted within 60 days prior to the date of movement.
The requirement also included that heifers which are less than six months
of age must enter on a entry permit obtained from the Commission and be moved
to a designated facility where the animals will be held until they are tested
negative at the age of six months. The original intent was to require "any
sexually intact animals" that enter Texas under 6 months of age (without a
test), to be restricted until they receive a negative test upon reaching 6
months of age. The Commission is proposing this amendment to correct this
oversight.
FISCAL NOTE
Mr. Mike Jensen, Deputy Director for Administration and Finance, Texas
Animal Health Commission, has determined for the first five-year period the
rule is in effect, there will be no additional fiscal implications for state
or local government as a result of enforcing or administering the rule. The
commission does not believe the requirements create an adverse impact on a
small businesses or micro-businesses. The impact to individuals is limited
to ensuring that the health status of these animals is known which protects
the livestock industry in this state.
PUBLIC BENEFIT NOTE
Mr. Jensen also has determined that for each year of the first five years
the rule is in effect, the public benefit anticipated as a result of enforcing
the rule will be clear and concise regulations which can be found in one chapter.
LOCAL EMPLOYMENT IMPACT STATEMENT
In accordance with Government Code, §2001.022, this agency has determined
that the adopted rule will not impact local economies and, therefore, did
not file a request for a local employment impact statement with the Texas
Workforce Commission.
TAKINGS ASSESSMENT
The agency has determined that the proposed governmental action will not
affect private real property. The proposed rule is an activity related to
the handling of animals, including requirements concerning testing, movement,
inspection, identification, reporting of disease, and treatment, in accordance
with 4 TAC, §59.7, and are, therefore, compliant with the Private Real
Property Preservation Act in Government Code, Chapter 2007.
REQUEST FOR COMMENT
Comments regarding the proposed amendments may be submitted to Delores
Holubec, Texas Animal Health Commission, 2105 Kramer Lane, Austin, Texas 78758,
by fax at (512) 719-0721 or by e-mail at "comment@tahc.state.tx.us."
STATUTORY AUTHORITY
The amendment is proposed under the following statutory authority as found
in Chapter 161 of the Texas Agriculture Code. The commission is vested by
statute, §161.041(a), with the requirement to protect all livestock,
domestic animals, and domestic fowl from disease. The commission is authorized,
by §161.041(b), to act to eradicate or control any disease or agent of
transmission for any disease that affects livestock. If the commission determines
that a disease listed in §161.041 of this code or an agent of transmission
of one of those diseases exists in a place in this state among livestock,
or that livestock are exposed to one of those diseases or an agent of transmission
of one of those diseases, the commission shall establish a quarantine on the
affected animals or on the affected place. That is found in §161.061.
As a control measure, the commission by rule may regulate the movement
of animals. The commission may restrict the intrastate movement of animals
even though the movement of the animals is unrestricted in interstate or international
commerce. The commission may require testing, vaccination, or another epidemiologically
sound procedure before or after animals are moved. That is found in §161.054.
An agent of the commission is entitled to stop and inspect a shipment of animals
or animal products being transported in this state in order to determine if
the shipment originated from a quarantined area or herd; or determine if the
shipment presents a danger to the public health or livestock industry through
insect infestation or through a communicable or noncommunicable disease. That
authority is found in §161.048.
Section 161.005 provides that the commission may authorize the executive
director or another employee to sign written instruments on behalf of the
commission. A written instrument, including a quarantine or written notice
signed under that authority, has the same force and effect as if signed by
the entire commission.
Section 161.061 provides that if the commission determines that a disease
listed in §161.041 of this code or an agency of transmission of one of
those diseases exists in a place in this state or among livestock, exotic
livestock, domestic animals, domestic fowl, or exotic fowl, or that a place
in this state where livestock, exotic livestock, domestic animals, domestic
fowl, or exotic fowl are exposed to one of those diseases or an agency of
transmission of one of those diseases, the commission shall establish a quarantine
on the affected animals or on the affected place.
No other statutes, articles, or codes are affected by the amendments.
§51.8.Cattle.
(a)
(No change.)
(b)
Tuberculosis requirements.
(1) - (2)
(No change.)
(3)
All sexually intact dairy cattle, that are 6 months of
age or older may enter provided that they are officially identified, and are
accompanied by a certificate stating that they were negative to an official
tuberculosis test conducted within 60 days prior to the date of entry.
All sexually intact dairy cattle
[
(4) - (7)
(No change.)
This agency hereby certifies that the proposal has been
reviewed by legal counsel and found to be within the agency's legal authority
to adopt.
Filed with the Office of
the Secretary of State on June 6, 2005.
TRD-200502262
Gene Snelson
General Counsel
Texas Animal Health Commission
Earliest possible date of adoption: July 17, 2005
For further information, please call: (512) 719-0700
and Agribusiness Development
Program
], Texas Department of Agriculture, P.O. Box 12847, Austin, Texas
78711[
, (512) 475-1619
].
Chapter 25.
TEXAS AGRICULTURAL FINANCE AUTHORITY: RURAL DEVELOPMENT
person, corporation, partnership,
cooperative, joint venture, sole proprietorship,
] city, county, [
state agency, institution of higher education,
] economic development
corporation, or other unit of
local
[
public
] government
filing an application with the Authority for a financial commitment.
a guaranty,
]
a direct loan,
a bond purchase,
a participation commitment, or a
conduit issuance for a political subdivision [
or any other entity
]
providing economic development to a rural area of the state.
(12)
Guarantied loan amount--With
respect to loans made by a lender and guarantied by the Authority, a sum measured
in terms of U.S. dollars that the Authority pays to a lender to acquire an
undivided interest in any loan, or in the case of default by borrower, the
Authority agrees to pay a lender, not to exceed up to 90 percent of the loan
amount or $5 million, whichever is less. The guaranty percentage approved
by the board will be that stated in the guaranty agreement negotiated between
the Authority and the lender. The lender is required to negotiate an agreement
to sell the Authority a participation in the guarantied loan in an amount
of no more than 80 percent of the guarantied amount. The Authority will pay
the lender a servicing fee as approved by the board.]
(13)
] Interest rate--The interest
rate charged on a commitment approved by the Authority board for an eligible
applicant.
(14)
] Lender--A lending institution,
including a bank, trust company, banking association, savings bank, mortgage
company, investment banker, credit union, underwriter, life insurance company,
or any affiliate of those entities, and also including any other financial
institution or governmental agency that customarily provides financing for
rural economic development loans or mortgages, or any affiliate of such institution
or agency.
(15)
] Project--An enterprise or
project, which would further economic development of a rural area.
(16)
] Qualified application--A
completed application, including all documents and information required by
the Authority and submitted by the lender or applicant for a project, that
is consistent with the purpose of rural economic development.
(17)
] Rural area--A rural area
means an area which is predominately rural in character, and the board defines
and considers to be a rural area.
(18)
] Staff--The staff of the
Authority or staff of the department performing work for the Authority.
(19)
] State--The State of Texas.
; and
]
(6)
if the applicant is a corporation,
partnership, cooperative or joint venture, the applicant's principal owner
or owners provide personal guarantees satisfactory to the Authority.]
to accept the commitment and 90 days to close the commitment, provided that
the board may approve one additional extension of the commitment for a period
of no more than 60 days. The Authority will prepare the closing documents
in cooperation with the Authority's legal counsel and notify borrower of the
closing date established
].
, including percentage of
ownership of the business, if applicable
];
and/or the business
];
business
] plan which includes the following:
; and
]
(D)
a statement of what percentage
of Texas products and suppliers will be used by the project.]
historical balance sheets, cash flow statements, income statements, and federal
and/or state tax returns
];
(6)
a pro forma balance sheet,
which incorporates the new financing, to be provided by the applicant and/or
the lender;]
(7)
] pro forma cash flows, income
statements and balance sheets for at least three years, including the underlying
assumptions used, to be provided by the applicant and/or the lender;
(8)
a statement of the interest
rate used in the pro forma statements;]
(9)
] a statement of any licensing
requirements
, and state or federal regulations that impact the project
;
(10)
] a statement that addresses
the effect of the
project
[
business
] on the tax base
of the area and any other positive and negative effects of the project on
the area;
(11)
] assurance of compliance with
local zoning laws and building codes, and that the necessary public utilities
are available or will be available when needed by the project;
and
(12)
for construction projects,
the approximate date construction will commence, completion date, and date
by which the project will be fully operational; including copies of cost estimates
for construction;]
(13)
documentation that the preliminary
design stage has been completed;]
(14)
] disclosure of any and all
business and familial affiliations of the applicant, or its owners, principal
investors, board members, and management with members of the board, employees
of the department, staff, and/or the lender which could present a conflict
of interest
.
[
; and
]
(15)
if applicable, a personal
history questionnaire and acknowledgment form for all guarantors and/or owners
with more than 20% ownership.]
or lender, whichever
is applicable,
] annual
audited
financial
reports
[
statements including a balance sheet, income statement and a cash flow statement
]; payment receipts of
any applicable
personal property taxes;
and a statement of the annual employment of the
applicant
[
applicant's business to the Authority
]. Annual employment shall be expressed
in terms of annual full-time equivalent positions. If necessary, the Authority
may request other reports or documentation reasonably necessary for an assessment
of the applicant's compliance with the program.
and Agribusiness
Development Division
], Texas Department of Agriculture, P.O. Box 12847,
Austin, Texas 78711[
, (512) 475-1619
].
Subchapter B. PRIVATE ACTIVITY BOND FINANCING PROGRAM
Chapter 26.
TEXAS AGRICULTURAL FINANCE AUTHORITY: LINKED DEPOSIT PROGRAM
, (512) 475-1614
].
Chapter 28.
TEXAS AGRICULTURAL FINANCE AUTHORITY: FINANCIAL ASSISTANCE PROGRAM RULES
agricultural-related
] rural economic development projects
that the board of the Authority considers to present a reasonable risk and
have a sufficient likelihood of repayment. The Authority is mandated to support
the expansion, development, and diversification of production, processing,
marketing, and exporting of Texas agricultural products and to promote the
development of [
agricultural-related
] rural economic development
projects. These rules establish standards of eligibility and the application
procedures for the Authority's financial assistance programs.
the project provides significant benefits
for the expansion or development of diversified, innovative, or value-added
production, processing, marketing, or exporting of Texas agricultural products
or provides significant benefits for other agricultural-related economic development
projects; provided that the board shall give priority to agricultural businesses
that include producers of Texas agricultural products; provided, also, that
the board will give preference to applicants, the majority ownership of which
is held by citizens of the United States; and if the applicant is a corporation,
the board will give preference to a corporation organized under the laws of
the State of Texas with majority ownership by Texas residents; provided further,
that the board will give preference to applicants who are Texas residents
doing business in the state and to applicants who can demonstrate that the
financed activities will take place predominantly in the state; provided that
the board will also give preference to those agricultural businesses that
demonstrate a significant new technology or market opportunity for Texas producers;
provided, finally, that the board may decline to assist those businesses whose
primary purpose is to establish or expand conventional agricultural production
];
the project will
create or retain employment, directly or indirectly
];
and
there is a reasonable level of equity in the project,
which is determined on a case-by-case basis by the Authority and the lender;
provided that the applicant must provide at least 10% of the total cost of
the project for an existing business and at least 25% of the total costs of
the project for a start-up;
]
the
direct loan program or
] the loan guaranty program before qualified applications
will be accepted by the Authority. Staff will be available prior to submission
of the qualified application to assist lenders or applicants in determining
project eligibility.
a quorum of the
] board
members present
[
, except
for the approval requirements identified in §28.10(c) of this title (relating
to General Terms and Conditions of the Authority's Financial Assistance)
].
Applications submitted to the Authority for the participation program will
not be considered if the eligible project does not meet the minimum underwriting
standards established in the Credit Policy and Procedures established by the
Authority.
;
]
However
[
however
], in no event shall the time period exceed
30 days to accept the commitment and 90 days to close the loan, provided that
the board may approve one additional extension of the commitment for a period
of no more than 60 days. Under the loan guaranty program, the lender will
prepare the written agreements and documents necessary to close the loan guaranty
in accordance with the terms and conditions set forth in the notice of conditional
approval. The Authority will send the lender and the applicant final notice
of guaranty approval after review of the closing documents by the Authority's
legal counsel. [
Under the direct loan program, the Authority will prepare
the closing documents in cooperation with the Authority's legal counsel and
notify lender and/or borrower of the closing date established. The lender
will disburse the loan according to the terms of the note and/or loan agreement.
]
(c)
] Maximum amount financial assistance.
The Authority shall not provide a loan guaranty, or a participation purchased
to an applicant, including its affiliates, that [
at any one time
]
exceeds
the current dollar amount of the existing obligation involving
the Authority
[
$2 million except that by a two-thirds vote of the
board, the total aggregate participation purchase or loan guaranty may exceed
$2 million but may not exceed $5 million. The assistance in the form of a
loan guaranty shall not exceed 90% of the total loan. The Authority board
will apply the following as a guideline when approving guaranty applications:
a guaranty may not exceed 75% on guaranties of $2 million and over; a guaranty
may not exceed 80% for guaranties between $1 million and $1,999,999; a guaranty
may not exceed 85% for guaranties between $500,000 and $999,999; and a guaranty
may not exceed 90% for guaranties between $30,000 and $499,999. The financial
assistance in the form of a guaranty shall never exceed 90% of the total loan
or $5 million, whichever is less. Furthermore, the Authority may make, guaranty,
insure, coinsure, or reinsure a loan up to the limits described above for
a single eligible business which already has an active loan and will consider
the guaranty percentage under which the active loan was guarantied, if the
action is approved by a two-thirds vote of the members present. The Authority
may provide financial assistance to the entity designated to carry out the
boll weevil eradication program in accordance with the Texas Agriculture Code,
74.1011 and to a state agency or institution of higher education for an agricultural-related
business in amounts approved by the board. The maximum direct loan is $250,000
as established in 28.16(a) of this title (relating to Criteria for a Direct
Loan)
].
(d)
] Extent of participation in
a guaranteed loan. The Authority shall participate in each and every guaranteed
loan in an amount not to exceed 80% of the Loan Guaranty Amount, not to exceed
the limits in subsection
(b)
[
(c)
] of this section.
(e)
] Interest. The interest rate
on the guaranteed loan (not including guaranty fees) shall be the rate charged
by the lender and approved by the Authority, subject to the definition established
in 28.3 of this title (relating to Definitions).
(f)
] Maturity. The maturity of
the direct loan, participation purchased, or loan guaranty approved by the
Authority must not exceed the useful life of the collateral and may be negotiated
between the Authority, the lender, and/or the borrower.
(g)
] Security. Loans
should
[
must
] be secured by collateral of a type, amount, and value
which, when considered with other criteria, affords reasonable assurance of
repayment.
(h)
] Fees. The board has adopted
the following fee schedule which will be used as a guideline to calculate
the fees payable by the applicant to the Authority within 10 days of the initial
funding of the loan. However, the Authority may approve fees as it deems appropriate
on a case-by-case basis. A nonrefundable application fee will be required
with the qualified application. If the qualified application is approved,
the application fee will be credited as part of the total fees charged. Any
and all legal fees incurred by the board in issuing a direct loan or loan
guaranty will be an obligation of the applicant.
(i)
] Closing the financial assistance
provided. The lender, the applicant, and the commissioner of agriculture or
his designee may attend the verification and signing of the closing documents
as prepared by staff and/or the lender.
(j)
] Reporting requirements for
loan guaranties and participations purchased.
and Agribusiness
Development Division
], Texas Department of Agriculture, P.O. Box 12847,
Austin, Texas 78711[
, (512) 475-1619
].
28.10(c)
] of this title (relating to General Terms and Conditions of
the Authority's Financial Assistance); and
a quorum of the
] board
members present
[
, except for the approval requirements identified in Section 28.10(c)
]
of this title.
Chapter 30.
TEXAS AGRICULTURAL FINANCE AUTHORITY: YOUNG FARMER LOAN GUARANTEE PROGRAM
and Agribusiness
Division
], Texas Department of Agriculture, P.O. Box 12847, Austin,
Texas, 78711[
, (512) 475-1619
].
Part 2.
TEXAS ANIMAL HEALTH COMMISSION
Babesiasis
] (cattle tick fever or bovine piroplasmosis).
when
] 100% of the livestock on the premise have been dipped and continued
on an official dipping schedule until removed from the premise. The premise
will be reclassified
to a Check Premise, as provided by subsection (b)
of this section,
upon the expiration of the time shown in Tables I (Pasture
Vacation Schedule, South of Highway 90) or II (Pasture Vacation Schedule,
North of Highway 90), whichever is applicable
. The Check Premise restrictions
will be released
[
, or
] when determined by the commission
that the premise has no infestation.
Chapter 51.
ENTRY REQUIREMENTS
Heifers
] that are less
than six months of age must obtain a entry permit from the Commission, as
provided in §51.3(a) of this title, to a designated facility where the
animals will be held until they are tested negative at the age of six months.
Animals which originate from a tuberculosis accredited herd, and/or animals
moving directly to an approved slaughtering establishment are exempt from
the test requirement. In addition all sexually intact dairy cattle originating
from a state or area with anything less than a tuberculosis free state status
shall be tested negative for tuberculosis in accordance with the appropriate
requirements for states or areas with a status as provided by Title 9 of the
Code of Federal Regulations, Part 77, Sections 77.10 through 77.19, for that
status, prior to entry with results of the test recorded on the certificate
of veterinary inspection.
Chapter 59.
GENERAL PRACTICES AND PROCEDURES