New York Codes, Rules and Regulations
Title 21 - Miscellaneous
Chapter XLII - New York State Environmental Facilities Corporation
Part 2607 - New York Beginning Farmer Loan Program Regulations
Section 2607.2 - Definitions
Universal Citation: 21 NY Comp Codes Rules and Regs ยง 2607.2
Current through Register Vol. 46, No. 39, September 25, 2024
(a) Unless defined herein, terms used in this Part shall have the meaning set forth under sections 1281 and/or 1285-r of the Public Authorities Law (PAL). Terms used in this Part or to be used in complying with this Part have the following meanings:
(1) Act means the New York State
Environmental Facilities Corporation Act, constituting title 12 of article 5 of
the PAL, as amended and as may be amended.
(2) Allowable costs means all costs of an
eligible project which the corporation determines are properly allocable to
that project in accordance with applicable laws and regulations.
(3) Application means a completed instrument
on a form approved by the corporation.
(4) Bond means any instrument of indebtedness
issued by the corporation to provide funding for a project.
(5) Bond purchaser means any lender as that
term is defined in section 1285- r of the PAL.
(6) Commissioner means the commissioner of
the New York State Department of Agriculture and Markets.
(7) Corporation means the New York State
Environmental Facilities Corporation, or its successor, unless otherwise
indicated.
(8) Department means the
New York State Department of Agriculture and Markets.
(9) Eligible project means project as that
term is defined in PAL section 1285-r.
(10) Loan means any loan made by the
corporation to a beginning farmer.
(11) New York Beginning Farmer Loan Program
(NYBFLP) means the program for providing State assistance loans for eligible
projects established pursuant to section established pursuant to section 1295-r
of the PAL.
(12) Note means any
instrument of indebtedness issued by a beginning farmer to the corporation or
bond purchaser.
(13) President
means the president of the New York State Environmental Facilities
Corporation.
(14) State means the
State of New York.
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