N.D. Cent. Code § 6-09.11-04: Loans to farmers - Purposes

The following purposes are eligible to be funded by bond proceeds or loan participations under this chapter:

1.Purchasing agricultural real estate;

2.Constructing, repairing, altering, or adding to any farm buildings on agricultural real estate owned or purchased by the farmer;

3.Making permanent improvements to agricultural real estate owned or purchased by the farmer for the purpose of increasing the productive value of the land or promoting conservation of the soil;

4.Purchasing farm equipment;

5.Purchasing livestock;

6.Paying off and discharging mortgages, encumbrances, and other charges or liens against or on the agricultural real or personal property owned or purchased by the farmer; and

7.Restructuring operating debt carryover.