House Journal: Page 1898: Thursday, April 29, 1999

10   eligible lending institution under the traditional

11   livestock producers linked investment program
12   established under section 12.43A."
13     2.  Page 1, line 6, by striking the words "eighty-
14   eight" and inserting the following:  "one hundred
15   eight".
16     3.  Page 1, line 14, by inserting after the word
17   "12.43A" the following:  "and the value-added
18   agricultural linked investment loan program as
19   provided in section 12.43B".
20     4.  Page 1, by striking lines 16 and 17 and
21   inserting the following:  "amount as follows:
22     (1)  At least twenty million dollars shall be
23   invested in order to support the traditional livestock
24   producers linked investment loan program as provided
25   in section 12.43A.
26     (2)  At least twenty million dollars shall be
27   invested in order to support the value-added
28   agricultural linked investment loan program as
29   provided in section 12.43B."
30     5.  Page 1, line 24, by inserting after the figure
31   "12.43A." the following:  "The treasurer of state in
32   cooperation with the agricultural products advisory
33   council established in section 15.203 shall adopt
34   rules for the administration of the value-added
35   agricultural linked investment loan program as
36   provided in section 15.204."
37     6.  By striking page 1, line 25, through page 3,
38   line 3, and inserting the following:
39     "3. Certificates A certificate of deposit, which
40   is placed by the treasurer of state with an eligible
41   lending institution on or after July 1, 1996, pursuant
42   to this division may be renewed at the option of the
43   treasurer. The following shall apply to the
44   certificate of deposit:
45     a.  The For a linked investment other than a
46   qualified linked investment, the initial certificate
47   of deposit for a given borrower shall have a maturity
48   of one year. and The certificate of deposit may be
49   renewed for eight additional one-year periods on 
an
50   annual basis for a total term not to exceed five
Page 2  
 1   years.
 2     b.  For a qualified linked investment, the initial
 3   certificate of deposit for a given borrower shall have
 4   a maturity of one year.  The certificate of deposit
 5   may be renewed on an annual basis for a total term not
 6   to exceed three years.
 7     Sec. ___.  Section 12.41, Code 1999, is amended by
 8   adding the following new subsection:

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