Renewable Resource Loans to Private Entities

Loans for private water development projects are available from the department.  Loans to individual private entities may not exceed the lesser of $200,000 or 80 percent of the fair market value of the security given for the project.  Private loans to individuals must be secured with real property.  Loans up to $300,000 are available for such organizations as water user associations and ditch companies.  These loans are scored by the revenue produced by the system.  Irrigation system improvements -- for example, the conversion from flood irrigation to sprinkler irrigation -- are the most common type of projects funded through private loans.

To finance loans, the law provided authority to issue general obligation renewable resource bonds up to a total outstanding balance of $20 million.

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