Rule §28.25 Project Costs

Published: 2015

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(a) Eligible costs. Financing received under this program may be used to provide working capital for operating a farm, ranch, or agriculture-related business, including: the lease of facilities, the purchase of machinery and equipment, or for any other agriculture-related business purpose, including the purchase of real estate, as defined in the plan. (b) Ineligible costs. Use of financing received under this Program for any costs other than those identified in the plan shall be considered ineligible costs. A loan guarantee is voidable by the board or the commissioner if the borrower uses loan proceeds for any costs not identified in the plan.

Source Note: The provisions of this §28.25 adopted to be effective September 1, 2009, 34 TexReg 5902