(20 ILCS 3610/7) (from Ch. 5, par. 1257)
Sec. 7.
An application for a payment adjustment shall be transacted on
forms provided by the Authority. An operating loan subject
to a payment
adjustment shall not exceed $150,000; shall be due
and payable within 14 months after the operating loan is granted; it
shall be made at
a fixed or variable interest rate not to exceed the lesser of
13% or the prevailing farm
operating loan rate; and notice of the lender's approval of the application
for such operating loan subject to a payment adjustment shall be received
by the Authority prior to June 15, 1986. Priority shall be given
to those applications which are received by the Authority the
earliest. The Authority may approve payment adjustments in an aggregate
amount not to exceed $25,000,000. Payment adjustments shall be distributed
on an equitable basis throughout agricultural farm regions of the
State of Illinois.
(Source: P.A. 84-1; 84-1106.)
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