ARM 8.97.2006. PERMISSIBLE USES OF LOAN FUNDS

(1) A state CRP loan recipient may use loan proceeds for an agricultural enterprise project, including, but not limited to: (a) refinancing of existing indebtedness incurred in the acquisition of a farm or ranch or for the improvements thereto; (b) acquisition of agricultural equipment or agricultural machinery, or for the refinancing of existing indebtedness incurred for such acquisition; (c) acquisition of real property used for agricultural purposes only; (d) working capital for operation of a farm or ranch; or (e) for any combination of (a) through (d) above. (2) A CRP loan recipient may not use loan proceeds for any project which does not qualify as an agricultural enterprise project.