Session of 1999
         
House Concurrent Resolution No. 5039
         
By Committee on Agriculture
         
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  9             A  CONCURRENT  RESOLUTION urging the United States Congress
10             to provide increased funding for the Guaranteed Farm Ownership loan
11             program and the Interest Assistance program.
12      
13             WHEREAS,  This is a crucial time in our history for persons in the
14       agricultural community; and
15             WHEREAS,  Many states have used all of the United States Depart-
16       ment of Agriculture (USDA) guaranteed farm ownership funding money;
17       and
18             WHEREAS,  The State of Kansas has only enough funding money left
19       for guaranteed operating loans for about 170 farms and it is expected that
20       these funds will run out in March, 1999; and
21             WHEREAS,  All of USDA's loan programs are experiencing substantial
22       increases in demand and the Guaranteed Farm Ownership loan program
23       has experienced a 92% increase in demand in one year; and
24             WHEREAS,  Over 5,000 banks participate in USDA guaranteed loan
25       programs, write over 80% of all the guaranteed loans and provide assis-
26       tance to over 48,000 farmers and ranchers; and
27             WHEREAS,  The Guaranteed Farm Ownership loan program allows
28       banks to work with farmers to restructure their debt over a longer period
29       of time, reduce their interest rates, provide for deferral of their payments,
30       and provide loan write-downs; and
31             WHEREAS,  This program and others like it provide credit and other
32       financial relief to farmers during this difficult and volatile period in the
33       history of the United States agricultural community; and
34             WHEREAS,  There is an urgent need for additional guaranteed loan
35       authority that would allow bankers to help farmers meet their immediate
36       financial needs: Now, therefore,
37             Be it resolved by the House of Representatives of the State of Kansas,
38       the Senate concurring therein: That the Legislature of the State of Kan-
39       sas urges Congress to provide increased funding for the Guaranteed Farm
40       Ownership loan program and the Interest Assistance program; and
41             Be it further resolved: That the Secretary of the State is hereby directed
42       to send enrolled copies of this resolution to the President of the United
43       States, the President of the United States Senate, the Speaker of the

HCR 5039

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  1       United States House of Representative, the Secretary of Agriculture of
  2       the United States Department of Agriculture and each member of the
  3       Kansas Congressional delegation.
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