Rules For Loan Program

The district shall adopt rules: (1) prescribing the form and content of applications for loans and plans for the resource conservation practice; (2) governing the application of the criteria and preferences for awarding loans; (3) providing for the servicing of loans, including arrangements for obtaining security interests and the establishment of reasonable fees or charges; (4) providing for the confidentiality of financial statements submitted; (5) prescribing the conditions for making loans; (6) establishing the interest rate, if any, for the loans; and (7) determining the type and amount of security interest in real estate that will be accepted and any conditions to be made upon the security interest.