80-12-103 . Agricultural loan authority -- general powers. The authority may: (1) retain professional consultants and advisers; (2) adopt rules governing its procedures; (3) purchase agricultural loans made by financial institutions; (4) issue bonds, in accordance with 80-12-301 , necessary to provide funds for implementing this chapter; (5) invest any funds generated by sale of bonds in the permissible investments outlined in 17-6-211 until such time as the funds are needed for any of the authority's other functions; (6) procure insurance or guaranties in amounts and in the form the authority considers desirable or necessary, from any party, including a governmental agency, against any loss in connection with its loan agreements; and (7) use the assistance and services of the farmers home administration, the production credit association, the federal land bank, or private lenders in approving loans for issuance of bonds.
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