Limitation on amount of interest deferrals and loan guarantees

Act 108 of 1984, § 11, under AGRICULTURAL DEVELOPMENT ACT.

Act 108 of 1984, § 11

Section 11. Limitation on amount of interest deferrals and loan guarantees.

The sum of all outstanding interest deferrals and loan guarantees at any time shall not exceed $25,000,000. Under no circumstances shall the Secretary of Agriculture, the Secretary of Commerce or the committee have power to pledge the credit or taxing power of the Commonwealth.

Compiler's Note: The Secretary of Commerce, referred to in this section, was renamed the Secretary of Community and Economic Development by Act 58 of 1996.