Section 348.010

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS

Chapter 348

Effective - 28 Aug 1981   

  348.010.  Purposes. — 1.  It is hereby found and declared that:

  (1)  The high and increasing cost of agricultural land, improvements, and equipment creates an urgent demand for financing which is not available in the amounts needed and at reasonable interest rates in the present market, and the inability on the part of persons engaged in agriculture to acquire modern agricultural property at reasonable financing costs makes it difficult for such persons to continue their operations at present levels; and

  (2)  Such inability to continue agricultural operations decreases employment and results in unemployment and its attendant problems; and

  (3)  That environmental damage, resulting from air, water, and other pollution and from public water supply, solid waste disposal, noise and other environmental problems, seriously endangers the public health and welfare; and

  (4)  That the high cost of financing capital improvements and the need to comply with environmental quality standards impose a heavy economic burden on small business in this state; and

  (5)  That it is desirable to provide small business with additional and alternative methods of financing the costs of acquisition and installation of the devices, equipment, and facilities required to comply with the quality standards which have been established to reduce, control, and prevent pollution and related problems; and

  (6)  That the viability of small business is threatened by the high cost of obtaining funds to meet general capital improvement programs and that the continued existence of small business enterprise in this state is desirable and necessary for the maintenance and expansion of employment opportunities in and the preservation of the economic well-being of this state; and

  (7)  It is necessary, desirable, and in the best interest of the citizens of this state that provision be made for the establishment of a public corporation to promote the development of agriculture and small business and to reduce, control, and prevent environmental damage in this state by making available to persons engaged in agriculture in this state and to small businesses located in this state, at interest rates lower than would be otherwise obtainable, funds for use in agriculture operations or for use in the reduction, control, and prevention of environmental damage or, in the case of small business, for use in general capital improvement programs, and to vest such corporation with all powers that may be necessary to enable it to accomplish such purposes; and

  (8)  It is the intent of the general assembly that such public corporation shall give special consideration to small business, as defined in sections 348.005 to 348.180, in authorizing the issuance of bonds for the financing of agricultural property or pollution control facilities in order to assist small business in assuming the economic burdens imposed by the required financing of such agricultural property or pollution control facilities.

  2.  Sections 348.005 to 348.180 shall be liberally construed to accomplish the intentions expressed in this section.

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(L. 1981 H.B. 681 § 2)