90-9-311. General criteria underlying agricultural development project loans. The council may make an agricultural development project loan only upon a favorable determination that the proposed agricultural development project:
     (1) is consistent with the findings and purposes of the act because it incorporates innovative agricultural technology;
     (2) has prospects for collaboration between the public and private sectors of the state's economy;
     (3) has prospects for achieving commercial success and for creating new jobs in the state;
     (4) has potential for commercial success related to the specific product, process, or business development methodology proposed;
     (5) can provide matching funds;
     (6) has potential to benefit existing agricultural business;
     (7) can be reasonably expected to provide an economic return within a reasonable period of time;
     (8) involves processing or adding value to agricultural products produced in the state; and
     (9) has a management structure that allows ongoing postdisbursement involvement by the council.

     History: En. Sec. 1, Ch. 284, L. 1989.