Monday, March 29, 2010

Legilature fails to pass loan for Moroni Feed Company

The Utah Legislature adjourned without passing a bill that would have provided a $5-million loan to Moroni Feed Co. for working capital. But lawmakers did pass a bill designed to make $10-$12 million in loans available to the state’s hard-hit dairy industry. Dairy farms in Sanpete County could be among the beneficiaries. The legislation authorized transfer of $2 million from elsewhere in the Utah Department of Agriculture and Food (UDAF) budget to the rural rehabilitation loans. While the special, additional loan for the feed company did not make it through the session, the U.S. Department of Agriculture is currently working on a loan program for the turkey industry nationwide. That program would be entirely federal. The Sanpete Messenger